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

There was a mention in IC - here - I don't have a subscription anymore.

I've been a holder/sufferer for @8 years.

And from over the road :- Hydrogen power: China backs fuel cell technology

Well here's hoping for a good recovery Skinny.....enormous potential....

Rising nicely....long may this continue....

Despite taking up the rights @40p, I'm just in the money.

Half Year Results for the Period ended 31 October 2018

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces half year results for the six month period ended 31 October 2018. Comparable figures, where stated, refer to the corresponding period in 2017 unless otherwise indicated.

Commercial Progress:

· As of today, £23.2m (£27.0m) of projects are under contract and a further £10.4m (£10.4m) are in the final stages of negotiation, making a total backlog of £33.6m (£37.4m).

· The tender opportunity pipeline has grown steadily and is now over £240m (£200m), representing 36 commercial tender responses within the last 12 months. The average project size of £6m (£3.5m) reflects strong industrial demand for larger systems.

· Hydrogen sales, with a new total of 29 (20) hydrogen fuel contracts, totalled £295k (£93k) over the last 12 months up with the strongest demand from Green Tomato Cars and the Metropolitan Police.

· The seventh ITM Power owned UK hydrogen refuelling station (HRS) opened in Swindon, next to the M4, in September 2018

· Gatwick and Derby HRSs are under construction and due to open at the end of Q1 2019.

· Civil works are underway on the Birmingham 3MW Bus Project, due to be operational in Q3 2019

· UK Government funding received for 100MW Power-to-Gas energy storage feasibility study in Cheshire.

· Green-light given for HyDeploy trial and further funding received for HyDeploy phase 2.

· Strategic partnership agreed with Sumitomo Corporation, covering Japan and Australasia, with commercial discussions continuing to progress as expected.

· The Company continues to make positive progress in Australia, with discussions with various counterparties progressing as planned.

Financial:

· Total income of £5.0m (£4.4m), comprising:

o Revenue - £1.2m (£1.7m)

o Grant income plus grants receivable for capital projects - £3.8m (£2.7m)

· As in previous years, revenue is expected to be weighted towards the second half of the year with an increased value of contracts expected.

· Loss from operations £5.3m (£2.9m), greater than originally anticipated, due to cost overruns on four 'first-of-a-kind' projects as well as significant investments made in people, resources and capacity during the period.

· Strong balance sheet: total financial assets constitute £24.9m with £15.6m of cash, £1.7m of cash on guarantee and deployed working capital (debtors less creditors) of £7.6m.

Operational Developments:

· Production and design staff materially expanded.

· New hires in Procurement, Legal, QHSE, Project Management, Manufacturing and Field Support.

· New factory manufacturing process design completed; tender processes underway.

· A dedicated team and project office established to focus on the 10MW Shell refinery project.

· Expansion of the German subsidiary team to support our European customer commitments and new German premises to hold spares and support a growing recurring maintenance income.

Graham Cooley, CEO, commented: "The six months under review have been a major transition for the company having expanded the skill base and delivered many MW scale industrial deployments. The company is highly regarded internationally and solid progress is being made on all fronts."

Roger Putnam, Chairman, added: "The Board is pleased with the significant progress that has been achieved over the last six months. Deploying increasing numbers of MW scale equipment in challenging industrial environments has certainly proved the company's credentials to many industrial partners and we look forward to a very busy second half."

Excellent update …..red will turn to blue.....

Good time to buy I think......on a not so serious note : they could include a laughing gas upgrade with a mask fitted next to the fuelling pumps....so at the same time with a normal fill you can opt for : 50p extra : you could take a sniff or two of it....would be wonders when you get back in the car and make the family get the giggles....no more problems with the kids on a trip after that....

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."