Strategic Investor Update

RNS Number : 1528G

ITM Power PLC

02 March 2015

 



2 March 2015

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	[phone]
Zeus Capital Dan Bate / John Treacy / John Goold	[phone]
Tavistock Communications Simon Hudson / James Collins	[phone]

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

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