ITM Power completes fundraising as revenues retreat
6th Aug 2013 14:44
Fuel cell developer ITM Power has completed a 2.0m-pound fundraising at a moderate discount in order to advance its key projects. The Aim company announced the 35p-priced institutional placing on the day of its final results, which showed revenues had collapsed from £480,000 to £87,000. The comp
Read moreITM Power joins French national infrastructure programme
5th Jul 2013 08:07
Clean energy group ITM Power has joined a French national hydrogen energy infrastructure programme that aims to propel the fuel source to the forefront of the country's renewable energy campaign. Two days after ITM issued a profit warning after revenues for the year were "revenues are significantl
Read moreITM Power cuts annual revenue forecast
3rd Jul 2013 13:30
ITM Power's shares plunged after the energy storage and clean fuel company said full-year revenues would be significantly lower than expected. The AIM-listed company's revenues for the year to April 30th 2013 are anticipated to dip to £87,000 due to delivery delays, according to a trading update on
Read moreITM Power achieves first sale in Russia
12th Mar 2013 13:10
ITM Power said on Tuesday it made its first sale in Russia to an undisclosed company. The fuel cell firm sold its first reference plant based on the company's HPac platform. "Russia is a fast growing energy market that is beginning to look more seriously at the renewable space," said Chief Executi
Read moreITM Power updates on patent portfolio
3rd Jan 2013 11:22
ITM Power, the clean fuel specialist, said its intellectual property portfolio portfolio had continued to grow in strength and in depth. The firm said that since the start of 2010 it had seen 21 patents granted across ten patent families, covering technologies, materials or processes relevant to IT
Read moreITM shakes hands over renewable power deal
3rd Aug 2012 09:28
ITM Power, an energy storage and clean fuel company, has teamed up with GMI Renewable Energy on a renewable power project. The pair are to offer integrated renewable power generation and hydrogen production for back-up power, industrial processes and refuelling solutions for materials handling equi
Read moreITM gets power play on Isle of Wight
18th Jul 2012 10:28
ITM Power, the clean fuel specialist, is to be a major player in a project to create a so called "smart grid" on the Isle of Wight. The project will see a hydrogen energy store and vehicle refuelling system integrated into the electricity grid of the island. The total project value is £4.66m, whic
Read moreITM Power does deal with EADS
25th Jun 2012 09:56
Shares in ITM Power, the energy storage and clean fuel company, jumped on Monday after it announced a deal with Airbus' parent company, EADS. Sheffield-based ITM has sold its first hydrogen generation system to EADS for use by its research arm, Innovation Works, in its energy and propulsion laborat
Read moreITM appoints new Director of Engineering
15th Jun 2012 13:07
ITM Power, the energy storage and clean fuel company, has appointed Dr Charles Johnstone as its Director of Engineering. Johnstone is a Chartered Engineer and is joining the company from Blanson, where he was Managing Director. He has a background in compliant product engineering and has worked
Read moreSmall caps round-up: Games Workshop, Record, ITM ...
20th Apr 2012 09:36
Miniature table-top war games firm Games Workshop said trading in the four months to the beginning of April has been broadly in line with the board's expectations. Specialist currency manager Record has posted assets under management equivalents of $30.9bn (£19.3bn) at March 31st, up from $25.4bn (
Read moreITM Power awarded grant
12th Apr 2012 14:47
ITM Power, an energy storage and clean fuel company, has been awarded a grant under the Technology Strategy Board's Smart Power Distribution and Demand competition. The project is due to start in July of this year and will last 12 months. "The UK quotient of renewable energy generation is due to
Read moreITM wins distribution deal for Asia and US
19th Mar 2012 09:09
ITM Power, the clean fuel company, has negotiated a distribution agreement with Singapore-based Horizon Fuel Cell Technologies, that will see its products marketed in Asia and the US. This could be a major step for the Sheffield based firm which has been hanging around the AIM market since 2004 but
Read moreCash burn and losses grow at ITM Power
25th Jan 2012 13:09
Interim losses may have increased at clean fuel outfit ITM Power but the company reckons 2012 could be a pivotal year as the group's technology starts to make a commercial impression. "One of the key challenges facing us has been to demonstrate that our technology has a competitive cost structure w
Read moreITM Power gets EU go-ahead
23rd Jan 2012 10:15
ITM Power, which specialises in energy storage and clean fuel, said it had CE compliance for its transportable hydrogen refuelling system, allowing commercial sales to begin in the EU. A CE mark signals compliance with EU Directives and therefore enables free movement of a product within the Europe
Read moreITM up on M&S tie up
20th Jan 2012 09:36
ITM Power, which makes hydrogen fuel cells, has risen significantly this morning after announcing a tie up with UK retailing giant Marks & Spencer. Using ITM's platform to generate hydrogen, the six week trial will see M&S using several fuel cell vehicles as a direct substitute for part of the exis
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