ITM Power consortium wins UK grant for electric car project

Writer, Stock Market Wire
Wednesday, February 6, 2019 - 09:54

Energy storage and clean fuel company ITM Power confirmed it was part of a consortium awarded £3.1m by UK authorities to develop electric vehicles and a re-fueling station.

ITM Power said it would receive £1.8m for the re-fuelling station.

The company also announced that it had won sales and project awards of £7.1m over the last eight weeks, bringing the contract backlog to a total of £35.7m.

Of that total, £23.2m was under contract and a further £12.5m is in the final stages of negotiation.

'We welcome the continued commitment by OLEV to the rollout of hydrogen infrastructure in the UK and are delighted to be able to announce a major new station in the south of England which both provides fuel for vehicles but also backup capacity for our whole network,' chief executive Graham Cooley said.

'Today's announcement of our pipeline numbers reflects very positive progress over the last two months.'

At 9:54am: (LON:ITM) ITM Power PLC share price was +1p at 19.7p

Related content

ITM Power to supply electrolyser to Australian hydrogen project

Energy storage group ITM Power welcomed news that the Australian government would support a project for which it was supplying an electrolyser.

The government said...

Fri, 23/08/2019 - 13:42

ITM Power agrees to lease new manufacturing headquarters in Sheffield

Energy storage and clean fuel company ITM Power said it had agreed to lease new premises in Sheffield for its global manufacturing headquarters.

The company...

Mon, 22/07/2019 - 08:18

ITM Power expects total income to rise by fifth amid ramp up of projects deliveries in H2

ITM Power, the energy storage and clean fuel company said it expected annual total income to rise by a fifth after the delivery of completed...

Thu, 30/05/2019 - 09:47

ITM Power extends re-fuelling collaboration with Shell to 2024

ITM Power said it had extended a UK re-fuelling collaboration agreement with Shell, originally announced in September 2015.

The new agreement would run until 2024,...

Tue, 07/05/2019 - 14:58

ITM Power wins order from Toyota in Australia

ITM Power said Toyota's Australian unit had purchased one of the company's 0.25 megawatt electrolysers.

The sale is one of four in Australia first mentioned...

Tue, 19/03/2019 - 14:36