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.
ITM Power jumps 21% on upgraded guidance and stronger cash position
ITM Power PLC (AIM:ITM) shares climbed 21% in early trading on Tuesday after the company raised its revenue guidance and reported that it had been cash generative in the second half of the financial year. The hydrogen energy group said it now expects revenue for the year ending 30 April 2025 to reach between £25.5mn and £26.5mn, representing a 30% increase on the midpoint of its previous forecast.
Ceres Power and ITM still favoured as hydrogen winners by US bank
Hydrogen has gone off the oil recently as the sector continues to face delays, with financial investment decisions (FIDs) remaining limited. US bank Jefferies still sees potential for certain companies within the industry that are showing varying degrees of resilience and outlook improvements.
ITM Power left needing more orders, UBS says as targets cut
ITM Power PLC (AIM:ITM) needs to turn customer interest into order growth but is in the hands of a “lacklustre” green hydrogen market, according to UBS analysts. Analysts from the bank cut the clean technology company's share price target from 65p to 60p on Wednesday as a result, alongside issuing a ‘neutral' rating.
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ITM Power shares boosted by new contract win
ITM Power PLC (AIM:ITM) shares strengthened on Monday, rising around 20% at one stage, after announcing a 500 megawatt deal with “a global industrial customer”. Whilst the finer details of the deal will remain confidential, as part of the deal, the AIM-quoted company noted that the 500MW capacity reservation agreement will cover the period until the end of 2028.
See a Fork in the Road?
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