This must be the share of the future...........A co with 15 employees mostly Boffins with a unique product under development that has massive potential in the alternative energy sector
My only regret is that I watched the sp rocket from 11op to 210p before getting into the nose cone

Sale of 1.1MW Power-to-Gas Plant to EnergyStock

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that EnergyStock, a subsidiary of Gasunie, the Dutch gas transmission network operator, has purchased an ITM Power 1.1MW rapid-response PEM electrolyser. The sale was won in a competitive tender process and includes an after-sales support contract. The electrolyser will be located at EnergyStock's Zuidwending salt cavern storage facility in northern Netherlands, and the generated hydrogen will be either used on-site within EnergyStock's systems, or dispensed into tube trailers for supply to future hydrogen refuelling stations. Power will be delivered to the equipment via TenneT's high voltage electricity network.


ITM Power CEO, Dr. Graham Cooley, said: "We are delighted to be working with EnergyStock in the rapidly developing Power-to-Gas energy storage market. Power-to-Gas is the lowest cost long duration energy storage technique known. Power-to-Gas Energy Storage is joined up energy systems thinking - it exploits the virtues of an existing asset (the gas grid) to decarbonise both electricity and gas networks. Using excess renewable power to provide renewable heat combines two problems into one elegant solution."

I am beginning to like this share 😃

WOW 62 million new shares at 40 p.

I would like a few more of these tucked under my belt 😃

It could be good as it shows they are gearing up for the future . Probably buy back in soon .

Can't say I'm impressed !......always the same story with these companies...I knew a fundraising was coming....what I'd like to see is how much profit is to be forecasted and when.....another massive dilution...WOW is not my reaction...more like...oh no.....

At least they will keep their heads above water.....

Yes i agree , but it's actually over 72 million shares as there's an open offer as well , quite surprised it's up over 10% but i'm sure some will sell a few later .

23 for 1....a bit mean I would say....market has responded favourably it seems....for the moment....though like AFC...I fear profits are years away.....

Circular and Investor Presentation

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to confirm that the Circular to Shareholders in respect of the proposed Firm Placing and Open Offer announced on Friday 29 September was posted to shareholders yesterday. The Circular contains a notice of an Extraordinary General Meeting of the Company setting out the resolutions necessary for approval of the Firm Placing and Open Offer.

The Extraordinary General Meeting is to be held at 11.15 a.m. on 18 October 2017, or as soon thereafter as the AGM convened for 11.00 a.m. on that day has concluded, at the offices of Tavistock Communications, 1 Cornhill, London EC3V 3ND.

Copies of the Circular and the Investor Presentation are now available on the ITM Power website at: http://www.itm-power.com/investors/aim-info

RSI & MACD back on the ascendancy.

Result of General Meeting, Open Offer And Total Voting Rights

On 29 September, ITM Power (AIM: ITM), the energy storage and clean fuel company, announced the Firm Placing to raise approximately £25.0m (before expenses) and Open Offer to raise up to £4.4m (before expenses). The Firm Placing and Open Offer was subject, inter alia, to the approval by Shareholders of the Resolutions set out in the Notice of General Meeting.

The Company is pleased to announce that all of the Resolutions were duly passed at the General Meeting held earlier today.

The Placing remains conditional on, inter alia, Admission taking place on 19 October 2017 (or such later time as the Company and Investec may agree, being not later than 31 October 2017).

Result of Open Offer

The Open Offer closed for acceptances at 11.00 a.m. on 17 October 2017 in accordance with its terms and was oversubscribed. The Company therefore announces that is has received valid acceptances in respect of 10,896,225 New Ordinary Shares pursuant to Qualifying Shareholders' Open Offer Entitlements representing a percentage take up of 100 per cent. of the new Ordinary Shares available under the Open Offer. Accordingly, the aggregate amount raised pursuant to the Open Offer is approximately £4.4 million and the aggregate amount raised pursuant to the Firm Placing and Open Offer is approximately £29.4 million.

Application has been made for the 73,396,225 New Ordinary Shares to be issued pursuant to the Firm Placing and Open Offer to be admitted to trading on AIM. It is expected that Admission and dealings in the 73,396,225 New Ordinary Shares will commence at 8.00 a.m. on 19 October 2017.

Upon Admission, the Enlarged Share Capital is expected to comprise 324,009,401 Ordinary Shares with one voting right per share. The Company does not hold any shares in treasury. Therefore, this figure of 324,009,401 Ordinary Shares may be used by Shareholders following Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of ITM Power under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms not otherwise defined in the text of this announcement have the meanings given in the Company's announcement dated 29 September 2017 in relation to the launch of the Firm Placing and Open Offer.

Directorate Change

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces that Peter Hargreaves, a Non-executive director since 2003, has notified the Company of his intention to step down from the Board with effect from 31 October.

more.....

Hydrogen heads roll but investors spot hope on horizon

sulomo - 30 Oct 2017 - 06:32 - 24284 of 24294 - 2
Here's the relevant bit from yesterday's Financial Times...

But there are more hopeful signs for the hydro-heads elsewhere. Sheffield-based ITM Power has been quietly building a global market in hydrogen technology, making electrolysers that convert electricity to hydrogen. The gas can then be used in fuel cells to power vehicles. It isinstalling filling stations in the UK withShell.

While carmakers have been slower to produce hydrogen models than electric ones, bus companies and even hauliers, which return to a fixed point, are beginning to embrace it. Compared with electric motors, the range is better and refuelling — around six minutes — quicker, says Graham Cooley, chief executive of ITM.

Electrolysers reduce the climate impact of making the gas. Creating a ton of hydrogen by traditional methods creates 12-16 tonnes of carbon dioxide. Using renewable electricity cuts that to zero. But the bigger prize is the decarbonisation of oil refineries and the chemical industry. They have to “crack†oil to release its useful parts, which takes huge amounts of energy and hydrogen.

ITM last month agreed with Shell to install a 10MW electrolyser — the world’s biggest of its type — at a German refinery. It would need 1,000MW to produce the 180,000 tonnes of hydrogen used annually by the plant in the Rhineland.

“Adoption is coming fast now,†says Mr Cooley, who points to a £37m order pipeline, more than half from overseas. “The numbers show the uptake in the market. I have no doubt we are on the cusp of a complete energy transformation.†Some investors appear to be converted. In October, ITM raised £29.4m, with some institutions which had sold their holdings in the past rejoining the register. “This is not development capital any more. It is working capital for expansion,†says Mr Cooley.

Birmingham City Council Approves £13.4m Pilot Scheme for 20 hydrogen-fueled buses

Trading Update

Trading and Operations Update
Deal pipeline increased by £5.9m in the past two months

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces an update on trading and operations for the period since the announcement of its successful placing and open offer on 29 September 2017. The Company maintains its focus on increasing commercial sales and currently has £20.2m of projects under contract and a further £22.4m of contracts in the final stages of negotiation. The total of £42.6m is an increase of £5.9m in the two months since the placing and open offer announcement.

Products in Build
ITM Power continues to process its current order book. Today, the Company has 12 units within its manufacturing facility in Sheffield which are either in build, undergoing factory acceptance testing or ready for shipment. An additional five units are being commissioned in the field ahead of coming online. Altogether, these 17 units constitute over 5MW of installed capacity. The production plan starting in 2018 already exceeds 15MW of capacity.

In line with the Company's growth strategy and manufacturing plans, the order backlog and opportunity pipeline demonstrates a clear trend towards bigger unit sizes and larger scale industrial applications. The backlog is also reflective of the Company's focus on commercial sales and shift away from its previous reliance on grant income. In order to accommodate the increased numbers and size of units in production, Heads of Terms are being negotiated for a relocation to a larger facility which will accommodate all functions of the Company.

Power-to-Gas; Energy Storage
The National Grid HyDeploy project is well underway and excellent progress has been made across the programme. The HyDeploy project seeks to address a key issue for the UK, namely how to reduce the carbon footprint as a result of heating homes. The UK has a world class gas grid delivering heat conveniently and safely to over 83% of homes. Emissions could be reduced by lowering the carbon content of gas through blending with hydrogen. HyDeploy is a Network Innovation Competition (NIC) funded project which aims to establish the level of hydrogen that can be safely blended with natural gas for transport and use in the UK gas network.

ITM Power has started work examining the potential deployment of large-scale Power-to-Gas energy storage within the boundaries of the Northern Gas Networks gas distribution system. The work, funded by the Department for Business, Energy and Industrial Strategy (BEIS) as part of the Energy Storage Feasibility Study Competition launched in January 2017, will be completed in Q1 2018.

BEIS is also undertaking a £25 million project to explore the potential use of hydrogen gas for heating UK homes and businesses. The project will run from 2017 to 2021 and will aim to define a hydrogen quality standard, and to explore, develop and test domestic and commercial hydrogen appliances.

Hydrogen Refuelling Station (HRS) Deployment
ITM Power has a total HRS portfolio today of 12 funded refuelling stations which it owns. Five stations are open to the public: Riverside (US), AMP (Rotherham), NPL (London), CEME (London) and Cobham (London). A further five HRS are in construction: Birmingham (bus HRS), Orkney (Kirkwall), Beaconsfield (Shell forecourt), Gatwick (Shell forecourt) and Swindon. A further two HRS also have Fuel Cells and Hydrogen Joint Undertaking (FCH JU) funding under the H2ME2 scheme. The UK refuelling network has been financially supported by Innovate UK, Office for Low Emission Vehicles (OLEV) and the FCH JU.

Planning permission has been granted for car and bus HRS at 19 sites in total with 14 different planning departments across the UK. Business development activities in the clean fuel area are now focussed on return-to-base commercial vehicles including buses, trains, trucks and shipping. ITM Power has entered into 17 hydrogen fuel supply contracts for refuelling fuel cell electric vehicles: Honda, Toyota GB PLC, Hyundai Motor UK Ltd, Commercial Group, Skanska, UlemCo Ltd, Arval UK Ltd, UK Government Car Service, Arcola Energy, Johnson Matthey, Europcar, The Science Museum, JCB, Anglo American, Green Tomato Cars, Yorkshire Ambulance Service and Northern Gas Networks.

Industry Developments:
On 13 November the Hydrogen Council published a first-of-a kind study detailing hydrogen's potential to be a key pillar of the energy transition. The study concluded that when deployed at scale, hydrogen could account for almost one-fifth of total final energy consumed by 2050. This would reduce annual CO2 emissions by roughly six gigatons compared to today's levels, and contribute roughly 20% of the abatement required to limit global warming to two degrees Celsius.

Marketing
The Company's marketing efforts have been focused on engagement with multi-national companies which operate within the energy and transport sectors. In addition, increasingly by invitation, ITM Power attends and presents at many industry specific trade fairs and conferences in the UK, mainland Europe and the United States. A regularly updated list of all the events the company will be attending can be found at http://www.itm-power.com/news-media/events

Graham Cooley, CEO, commented, "Our strong pipeline growth reflects the hydrogen and energy storage markets' rapid growth worldwide and ITM's focus on commercial sales. We have larger systems, compliant to operate all over the world, placing ITM Power in a great market position. This is a very exciting time for the energy industry, and ITM Power is at the forefront of a market which will revolutionise air quality and energy storage for future generations."

It's a great update , but whenever I've seen a program about renewable clean energy , not once did anyone mention Hydrogen , usual wind etc , so someone needs to get promoting it .

Half Year Results for the Period ended 31 October 2017

Significant commercial progress, financial position strengthened by £29.4m working capital fundraise

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces its half year results for the six month period ended 31 October 2017. Comparable figures, where stated, refer to the corresponding period in 2016 unless otherwise indicated.

Commercial Progress:

· As at today, £27.0m (£17.0m) of projects under contract and a further £10.4m (Jan-2017: £1.4m) of contracts in the final stages of negotiation constituting a total backlog of £37.4m (Jan-2017: £18.3m), up 103% year on year

· Tender opportunity pipeline has grown steadily and is now over £200m, reflecting strong industrial demand

· 10MW refinery hydrogen project with Shell to build the world's largest PEM electrolyser at the Rhineland refinery, Germany

· World's first tidal-powered hydrogen generated at European Marine Energy Centre (EMEC) in Orkney

· First hydrogen bus route in the Pau region of France

· 20 tonne/day (50MW) hydrogen refuelling station designs launched in Las Vegas in September

· A new total of 20 hydrogen fuel contracts

Financial Highlights:

· Total income of £4.4m (2016: £3.0m), up 47%, comprising:

o Revenue - £1.7m (2016: £0.4m), up 325%

o Grant income plus grants receivable for capital projects - £2.7m (2016: £2.6m), up 4%

· Increase in fixed assets to £5.5m (2016: £3.8m), up 139%

· Loss from operations £2.9m (2016: £2.3m), increased by 26%

· Cash balance of £27.3m at period end (2016: £1.7m)

· Debtors balances of £12.8m (2016: £9.2m), up 39%

Operational Developments:

· New, larger factory premises identified and heads of terms agreed

· Expansion of the manufacturing and after sales support teams

· Creation of Australian subsidiary ITM Power Pty Ltd and appointment of Dr Neil Thompson as MD

Graham Cooley, CEO, commented: "The six months under review have seen significant advances in all areas of ITM Power's business. The announcement of the deployment of the worlds' largest PEM electrolyser at Shell's Rhineland refinery is a particularly important development seeing ITM Power enter the 10MW product class with a commercial product at scale. The Company's pipeline of deals has more than doubled since last year showing strong and consistent growth in both the refuelling and power-to-gas markets."

Roger Putnam, Chairman, added: "The Board is pleased with the result of the successful equity raise, which secured the working capital the Company needs to underpin the significant progress that has been achieved in growing the order pipeline of commercial sales. Our stronger financial position will help us to continue to strengthen our relationships with a number of major blue-chip companies as we progress our international business. With the establishment of our new company in Australia I welcome Neil Thompson to the development team."