ITM Power banks £46.5 million grant from UK government
ITM Power PLC (AIM:ITM) said a £46.5 million grant from the Department for Energy Security and Net Zero has been formally awarded, giving the electrolyser maker public-sector backing for its next-generation Chronos manufacturing line in Sheffield. The grant, first announced in April, comes alongside a £40 million equity investment from Great British Energy.
Jefferies lifts targets on ITM Power and Ceres Power as rally tests 2021 valuations
ITM Power PLC (AIM:ITM) and Ceres Power Holdings PLC (LSE:CWR, OTC:CPWHF) have staged two of the most dramatic recoveries on the London market this year, with their shares up 160% and 230% respectively since January. Jefferies has responded by sharply upgrading its price targets on both stocks while sounding a note of caution about valuations that are beginning to echo the hydrogen hype of 2021.
ITM Power soars on new Rheinmetall venture
ITM Power PLC (AIM:ITM) shares soared, rising more than 35% to 127.56p, after it announced it has teamed up with Rheinmetall AG on a defence-focused synthetic fuels project that could open a repeatable route for large-scale electrolyser deployments, as the pair target a planned Europe-wide network of decentralised e-fuel plants for NATO armed forces. The collaboration centres on Rheinmetall's Giga PtX project, which is designed to strengthen defence energy resilience, sovereign fuel capability and operational readiness.
ITM Power shares boosted as it lands £86.5m of govt backing
ITM Power PLC (AIM:ITM) shares advanced on Thursday, climbing around 12% to 72p, after announcing it had secured £86.5 million of UK government backing to build a 1GW manufacturing line for its next-generation Chronos electrolyser stack technology in Sheffield, giving the hydrogen specialist a sizeable balance-sheet lift and a clearer route to scaling domestic production. The package includes a £40 million strategic equity investment from Great British Energy and a proposed £46.5 million grant from the Department for Energy Security and Net Zero.
ITM Power up after winning more international contracts
ITM Power PLC (AIM:ITM) said it has secured two engineering contracts with a combined capacity of 70 MW, sending its shares up 6% to 66.3p. The first award is a basic design engineering package for an industrial customer in Australia, deploying multiple units of its Neptune V containerised green hydrogen plant.
ITM Power is signed up for German energy infrastructure projects
ITM Power PLC (AIM:ITM) has been selected by Stablegrid Group to supply technology for two energy infrastructure projects in Germany with a combined capacity of 710 MW. The projects will use electrolysers to support grid balancing by converting surplus renewable power into hydrogen stored in underground caverns.
ITM: Yield Is Most Unattractive Here
VanEck Intermediate Muni ETF tracks intermediate-term, investment-grade municipal bonds, offering tax-free income but only middling returns for the risk taken. ITM's low fees (0.18%) and index-tracking approach provide diversification and lower interest rate risk but limit income potential compared to more selective strategies. Tax-equivalent yields make ITM best suited for investors in higher tax brackets; those below a 24% marginal rate may find better after-tax returns elsewhere.
ITM Power shares advance on FEED contract
ITM Power PLC (AIM:ITM) shares advanced in Monday morning's deals, after it announced the signing of a Front-End Engineering Design (FEED) contract for a hydrogen project shortlisted in the UK's Hydrogen Allocation Round 2. The FEED will cover multiple 'NEPTUNE V' units, each of which will be a 5MW containerised green hydrogen plant.
ITM Power inks 20MW supply deal for Welsh hydrogen project
ITM Power PLC (AIM:ITM) has signed a supply agreement and binding heads of terms for a long-term services deal with MorGen Energy for the 20MW West Wales Hydrogen project at Milford Haven, UK. The project is part of the UK Government's Hydrogen Allocation Round 1 programme and has secured permits.
ITM Power shares rise as it lands pair of UK contracts
ITM Power PLC (AIM:ITM) shares traded up 9% in Tuesday's early deals after announcing contract wins for a pair of projects in the UK. The British technology and engineering small-cap in a statement, said it had been selected as the supplier for two green hydrogen projects in the UK.
ITM Power shares jump 18% on major green hydrogen deal in Asia-Pacific
Shares in ITM Power PLC (AIM:ITM) surged 18% in early trading on Monday after the company announced it had been selected to supply more than 300MW of electrolysers for a major green hydrogen project in the Asia-Pacific region. The UK-based clean energy firm said it had signed an agreement with a customer, who has not yet been named, confirming its role in the project, which aims to produce hydrogen for use in power generation and reduce carbon emissions.
ITM Power gets broker backing with 70p price target
Shares in ITM Power PLC (AIM:ITM) rose 8% to 31.08p on Tuesday after the hydrogen technology group lifted its revenue forecast for the year — a rare upside surprise that analysts say strengthens its recovery story. The Sheffield-based company, which develops electrolyser systems for green hydrogen production, now expects full-year revenue to come in between £25.5m and £26.5m.
