Notice of Trading Update

RNS Number : 1214U

ITM Power PLC

01 December 2021

 

1 December 2021

ITM Power plc

("ITM Power" or the "Company")

Notice of Trading Update

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces that it will issue a Trading Update, to report on progress during the six month period ended 31 October 2021 and to disclose the current pipeline, on Thursday 16 December 2021. There will be an analyst call on the day at 1500h GMT.  Those analysts wishing to join the call should register to receive an invitation by contacting  [e-mail]   .

The presentation given on the call will be available on the Company's website from 1500h GMT and will contain no new material disclosable information not in the Trading Update.

For further information please visit  www.itm-power.com  or contact:

ITM Power plc
James Collins, Investor Relations Justin Scarborough, Investor Relations	[phone] [phone]
Investec Bank plc (Nominated Adviser and Broker)	[phone]
Jeremy Ellis / Chris Sim / Ben Griffiths
Tavistock (Financial PR and IR)	[phone]
Simon Hudson / Tim Pearson / David Cracknell

About ITM Power plc:

ITM manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of renewable hydrogen for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004. In October 2019, the Company announced the completion of a £58.8m fundraising, including an investment by Linde of £38m, together with the formation of a joint venture to deliver renewable hydrogen to large-scale industrial projects worldwide. In November 2020, ITM Power completed a £172m fundraising, including a £30m investment by Snam, one of the world's leading energy infrastructure operators. In January 2021, the Company received an order for the world's then largest PEM electrolyser of 24MW from Linde. In October 2021, the Company, with Linde, announced the deployment of a 100MW electrolyser at Shell's Rhineland refinery, following the start-up of an initial 10MW facility at the site.

ITM Power operates from the world's largest electrolyser factory in Sheffield with a capacity of 1GW (1,000MW) per annum, with the announced intention to build a second UK Gigafactory in Sheffield with a capacity of 1.5GW expected to be fully operational by the end of 2023. The Group's first international facility, expected to have a capacity of 2.5GW per annum, is intended to be operational by the end of 2024, bringing total Group capacity to 5GW per annum. Customers and partners include Sumitomo, Ørsted, Phillips 66, Scottish Power, Siemens Gamesa, Cadent, Northern Gas Networks, Gasunie, RWE, Engie, GNVert, National Express, Toyota, Hyundai and Anglo American among others.

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