ITM Power PLC First Sales in Australia (9407M)
January 14 2019 - 1:00AM
UK Regulatory
TIDMITM
RNS Number : 9407M
ITM Power PLC
14 January 2019
14 January 2018
ITM Power plc
("ITM Power" or the "Company")
First Four Sales in Australia
ITM Power (AIM: ITM), the energy storage and clean fuel company,
is pleased to announce the sale of four 250kW electrolyser systems
totaling 1MW to three different customers across Australia. Further
details of these projects will be released in due course.
The four deployments represent an important step in entering
this significant new territory and will serve as reference plants
for ITM Power technology in both the mobility and industrial
hydrogen sectors in Australia. These commercial sales are of
standard ITM Power products, optimised and compliant for the
territory, which often requires operation in extreme thermal
environments.
This is the first step towards building a critical mass of units
in Australia so that the Company can optimise both commissioning,
after-sales support and spares holding.
Dr Neil Thompson, MD, ITM Power Pty Ltd said: "We are delighted
to have secured our first standard product sales in Australia. The
roll-out of these units starts to create a critical mass to deploy
after-sales support and spares, both of which create customer
confidence for future tender opportunities and give ITM Power an
early mover advantage in this important new market."
ITM Power CEO, Dr Graham Cooley, said: "Australia is a very
exciting new market for green hydrogen production and we are
pleased to be making these important deployments of reference
plants for ITM Power technology. Australia holds significant growth
opportunities for us and demonstrates the accelerating momentum in
the hydrogen sector."
For further information please visit www.itm-power.com or
contact:
ITM Power plc
Andy Allen, Finance Director +44 (0)114 244 5111
Investec Bank plc (Nominated Adviser
and Broker)
Corporate Finance: Jeremy Ellis /
Alexander Ruffman
Corporate Broking: Chris Sim / Helene
Comitis +44 (0)20 7597 5970
Tavistock (Financial PR and IR)
Simon Hudson / Nick Elwes / Barney
Hayward +44 (0)20 7920 3150
About ITM Power plc
ITM Power manufactures integrated hydrogen energy solutions for
grid balancing, energy storage and the production of green hydrogen
for transport, renewable heat and chemicals. ITM Power was admitted
to the AIM market of the London Stock Exchange in 2004. In
September 2017 the Company announced the completion of a GBP29.4m
working capital fundraise. The Company signed a forecourt siting
agreement with Shell for hydrogen refuelling stations in September
2015 and subsequently a deal to deploy a 10MW electrolyser at
Shell's Rhineland refinery. The company entered into a Strategic
Partnership Agreement with Sumitomo Corporation in July 2018 for
the development of multi-megawatt projects in Japan. Additional
customers and partners include National Grid, Cadent, Northern Gas
Networks, RWE, Engie, BOC Linde, Toyota, Honda, Hyundai, Anglo
American among others.
-ends-
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
DISGMGMMRFZGLZM
(END) Dow Jones Newswires
January 14, 2019 02:00 ET (07:00 GMT)
Itm Power (LSE:ITM)
Historical Stock Chart
From Apr 2024 to May 2024
Itm Power (LSE:ITM)
Historical Stock Chart
From May 2023 to May 2024