REG - ITM Power PLC - Strategic Investor Update <Origin Href="QuoteRef">ITM.L</Origin>

ITM PowerAnnouncement

02/03/2015 07:01

RNS Number : 1528G
ITM Power PLC
02 March 2015
2 March2015
ITM Power plc
("ITM Power" or "the Company")
Update on discussions with a potential strategic industry investor
On 29 January 2015, ITM Power (AIM: ITM), the energy storage and clean fuel company, announced that it was in advanced discussions with a potential strategic industry investor in relation to a significant investment for a material equity stake in the business.
ITM Power confirms that those negotiations remain ongoing and that it will update the market further when it is in a position to do so.
ITM Power plc
Graham Cooley, CEO
+44 (0)114 244 5111
Zeus Capital
Dan Bate / John Treacy / John Goold
+44 (0)20 7533 7727
Tavistock Communications
Simon Hudson / James Collins
+44 (0)20 7920 3150
About ITM Power plc:
ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and raised its initial funding of 10m gross in its IPO. Further funding rounds of 28.5m in 2006, 5.4m in 2012, 2m in 2013 and 10m in 2014 have been completed. The Company has now made the transition from a research and development company to a product manufacturer and technology provider. The Company currently has 8.76m of projects under contract and a further 2.61m of contracts in final stages of negotiation.
www.itm-power.com
-ends-

This information is provided by RNS
The company news service from the London Stock Exchange
  END
MSCPGUGAPUPAGQM