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ITM Power

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Full-year results revealed that annual pre-tax losses almost doubled to £46.7m on the back of £5.6m of revenues. The firm admitted that it has scrapped its 5GW annual capacity target by 2025, now aiming for 1.5GW per annum by 2023. It also scrapped its previous decision to open a second UK factory in
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The £7 million project was funded by Ofgem and led by gas network Cadent in partnership with Northern Gas Networks, with ITM Power supplying the electrolyser system. 100 homes and 30 university faculty buildings on a private gas network at Keele University in Staffordshire received the blended gas
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Following two years of construction, Shell launched Europe's largest hydrogen electrolysis plant at its Rhineland Refinery in Wesseling, Germany. The PEM electrolyser supplied by ITM Power is the largest of its kind to be deployed on a major industrial scale. The project will investigate the
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The second HyFive station was opened at East London's Centre of Engineering Manufacturing Excellence (CEME) in October 2016. This station uses a solar photovoltaic array to produce renewable hydrogen on-site for public and private fleets operating fuel cell electric vehicles to recharge.
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In 2020, the company set up the ITM Motive division to manage its HRS assets. In 2021, the division was established as a separate, wholly-owned subsidiary, owning and operating a portfolio of 12 publicly accessible HRS assets. It is currently the largest HRS operator in the UK.
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Another station, located at the National Physical Laboratory in Teddington, London, opened in May 2016. It was the first of three such stations launched under the pan-European HyFive Project, funded by the FCH JU and the UK Government Office of Low Emission Vehicles (OLEV).
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The project will use 100 megawatts of TRIDENT electrolyser stacks reserved from a capacity reservation agreement with Shell Deutschland, with production tentatively occurring from 2025 to 2026. However, its execution is dependent on a final investment decision.
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The trial was designed to determine the level of hydrogen which could be used by gas consumers safely and with no changes to their behaviour or existing domestic appliances. A second phase launched in August 2021 and is due for completion in 2022.
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In October 2020, the REFHYNE II consortium, which aims to install a 100-MW electrolyser at Shell's Energy and Chemicals Park, Rheinland, secured a EUR-32.4-million grant from the European Climate, Infrastructure and Environment Executive Agency.
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The third and final HRS under the HyFive project was opened in February 2017. Located at the Cobham Motorway Service Area on the M25 motorway, it was the first HRS in the UK to be located on a forecourt and Shell's first in the UK.
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ITM signed a collaboration agreement with Iwatani Corporation of America, a wholly-owned subsidiary of Japan's Iwatani Corporation, for the deployment of multi megawatt electrolyser-based hydrogen energy systems in North America.
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In January the company sold a 24MW PEM electrolyser unit, the largest in the world, to Linde. The unit will be installed at the Leuna Chemical Complex in Germany. Production is due to start in the second half of 2022.  
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The REFHYNE project aims to supply clean refinery hydrogen for Europe. Comprising a partnership including ITM Power and Shell, it is funded by the European Commission's Fuel Cells and Hydrogen Joint Undertaking (FCH JU).
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HyDeploy is an energy trial to establish the potential for blending up to 20% zero carbon hydrogen into the normal gas supply to reduce carbon dioxide emissions. It was the first trial of its kind in the UK.
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ITM Power was founded in June 2001 in Saffron Walden, Essex and originally manufactured fuel cells before expanding into electrolysers. In 2004, the company floated on the AIM Market raising £10 million.
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August marked the official opening of Bessemer Park in Sheffield. The facility has an electrolyser manufacturing capacity of 1GW per annum, making it the largest in the world to date.
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to develop ways of using clean energy on transport systems. ITM's assigned project was to build an electrolysis based hydrogen refueller to be used as transport fuel on the
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UKH2Mobility is a government and cross-industry programme to make hydrogen powered travel in the UK a reality. Industry signatories to the Memorandum of Understanding are:
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and the establishment of the joint venture, ITM Linde Electrolysis (ILE), to provide green gas solutions at industrial scale. ILE was incorporated in January 2020.
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ITM Power is currently engaged with industry and academia partners in several projects to deploy its technology and products in existing and emerging markets.
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within the world's largest electrolyser factory. It also operates from a further two Sheffield-based sites and an office located in Hesse, Germany.
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Deutschland. The company announced that future production capacity advanced electrolyser stacks would be secured by Shell under the agreement.
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is an energy storage and clean fuel company founded in the UK in 2001. It designs, manufactures, and integrates electrolysers based on
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The company raised £52 million via a second equity fundraise in 2019. This included a strategic investment of £38 million from
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in 2012. The refuelling station can provide hydrogen at 350 bar to vehicles and 150 bar to the university's laboratory.
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Sheffield. It also announced that its CEO for 13 years, Graham Cooley, would leave once a successor was appointed.
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In July 2012, ITM Power, along with four other companies, was selected by the Technology Strategy Board (now
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ITM enacted a third fundraise, raising £172 million in equity that included a £30 million investment from
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In October the company raised £250 million to expand manufacturing capacity to 5GW per annum by 2024.
1341:"Hydrogen on the M25 brings Britain closer to zero-carbon motoring – we're first to try the new pump" 658: 174:
using renewable electricity and tap water. Hydrogen produced via electrolysis is used for mobility,
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In March the company marked its first deployment in Japan with the sale of a 1.4MW electrolyser to
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In September 2015, it opened the HRS at the Advanced Manufacturing Park in Rotherham, Yorkshire.
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ITM Power installed an electrolyser driven hydrogen refuelling station (HRS) named Hfuel at the
1237: 1159: 1074: 407: 186: 40: 270: 8: 1049:"Zero-carbon hydrogen injected into gas grid for first time in groundbreaking UK trial" 985:"Refhyne II project to deliver a 100MW electrolyser for hydrogen production in Germany" 777: 1126: 765: 609: 1408: 1348: 1134: 1003: 781: 769: 677: 613: 761: 605: 68: 229:, UK. In 2011, ITM Power GmbH, the company's German subsidiary, was incorporated. 44: 877: 419: 57: 1401:"New hydrogen refuelling company to drive a greater adoption of fuel-cell cars" 484: 476: 171: 199: 1592: 1412: 1352: 1138: 773: 617: 480: 443: 34: 131: 1531: 1483: 185:(AIM) in 2004, becoming the first hydrogen company publicly listed on the 1024:"Consortium secures EU grant for 100-MW Refhyne II hydrogen electrolyser" 468: 437: 389: 321:
feasibility of introducing similar technology in other industry plants.
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In December the company finalised a capacity reservation agreement with
882: 401: 175: 725:"Italy's Snam takes strategic green hydrogen stake in UK's ITM Power" 632:"ITM Power links up with Birmingham University | TheBusinessDesk.com" 504: 297: 238: 193: 94: 1459:"ITM Motive aims to cater for growing numbers of hydrogen vehicles" 455: 847:"ITM Power launches £250m share sale to fund hydrogen gigafactory" 750:"ITM sells 24 MW PEM electrolyser to Linde, partners with Optimal" 1186:"University of Nottingham installs own hydrogen fuelling station" 100: 25: 1375:"Royal Dutch Shell places bet on hydrogen cars going mainstream" 1265:"Filling station's own hydrogen for cars that make no pollution" 449: 425: 1102:"UK hydrogen blending for public gas grid trial gets go-ahead" 821:"UK energy secretary officially opens ITM Power's Gigafactory" 569:"UK energy secretary officially opens ITM Power's Gigafactory" 189:(LSE). LSE has also granted the company a Green Economy Mark. 1555:"ITM Power set to offer energy storage for EcoIsland project" 1434:"ITM Power launches separate, wholly-owned Motive subsidiary" 1581: 873:"ITM Power's shares plunge as it warns of production delays" 1075:"HyDeploy blended hydrogen trial shows "promising" results" 254: 150: 1315:"Hydrogen vehicle refuelling station opens in East London" 958:"Shell fires up Europe's largest green hydrogen facility" 1238:"First 'zero-emissions' hydrogen filling station opens" 698:"ITM Power and Iwatani to collaborate in North America" 1290:"Hydrogen For Innovative Vehicles | www.fch.europa.eu" 907:"ITM Power inks capacity deal with Shell Deutschland" 1127:"Inside the race to use hydrogen to heat our homes" 933:"Shell starts green hydrogen production in Germany" 796:"ITM Power sells MW-scale electrolyser to Sumitomo" 1373:Ward, Andrew; Campbell, Peter (22 February 2017). 1212:"Futuristic vision moves a step closer to reality" 342:during the first phase which ended in March 2021. 1160:"Nottingham opens first hydrogen filling station" 487:, by having residents create fuel at their home. 1619:Renewable resource companies established in 2001 1590: 349: 1546: 722: 1524: 1372: 462: 1008:: CS1 maint: numeric names: authors list ( 682:: CS1 maint: numeric names: authors list ( 594:"ITM Power achieves London stock flotation" 225:Its first sale was an electrolyser for the 1609:Manufacturing companies based in Sheffield 1534:. The Economist magazine. 19 November 2011 24: 1552: 1498: 723:Edwardes-Evans, Henry (23 October 2020). 483:. The plan is to make the Isle of Wight 198: 1398: 1338: 1262: 1188:. The Green Car Website. Archived from 1099: 982: 870: 656: 473:Department of Energy and Climate Change 1591: 1553:Czyzewski, Andrew (10 November 2011). 1486:. The Economist Magazine. 30 July 2008 659:"Linde to take 20% stake in ITM Power" 303: 1624:British companies established in 2001 901: 899: 1614:Energy companies established in 2001 1214:. This is Nottingham. Archived from 871:Dempsey, Harry (14 September 2022). 844: 1599:Electric power companies of England 1476: 1204: 930: 13: 896: 14: 1635: 1573: 1532:"A self-sufficient Isle of Wight" 1339:Wiseman, Ed (22 February 2017). 428:Motor Manufacturing (UK) Limited 1451: 1426: 1399:English, Andrew (15 May 2020). 1392: 1366: 1332: 1307: 1282: 1263:Edmonds, Lizzie (8 June 2016). 1256: 1230: 1178: 1152: 1119: 1100:Burgess, James (26 July 2021). 1093: 1067: 1041: 1016: 976: 950: 924: 864: 838: 813: 788: 742: 380: 937:reNEWS - Renewable Energy News 845:Hume, Neil (14 October 2021). 716: 690: 650: 624: 586: 561: 536: 511: 497: 211: 192:ITM Power is headquartered in 1: 766:10.1016/S1464-2859(21)00105-X 610:10.1016/S1464-2859(04)00265-2 490: 440:European Technical Centre plc 183:Alternative Investment Market 471:) innovation agency and the 432:Scottish and Southern Energy 350:Hydrogen refuelling stations 220: 170:(PEM) technology to produce 7: 931:Ltd, Renews (2 July 2021). 548:www.londonstockexchange.com 523:www.londonstockexchange.com 332: 181:The company floated on the 10: 1640: 983:H2-View (8 October 2021). 760:(2): 14. 1 February 2021. 657:H2-View (3 October 2019). 413:Intelligent Energy Limited 396:Air Products and Chemicals 311: 206: 604:(8): 3–4. 1 August 2004. 463:Ecoisland Partnership CIC 145: 137: 127: 107: 89: 74: 64: 50: 32: 23: 356:University of Nottingham 227:University of Birmingham 168:proton exchange membrane 1604:Fuel cell manufacturers 1463:www.yorkshirepost.co.uk 291: 282: 260: 248: 232: 203: 962:www.businessgreen.com 702:Proactiveinvestors UK 202: 187:London Stock Exchange 271:Sumitomo Corporation 1244:. 17 September 2015 754:Fuel Cells Bulletin 598:Fuel Cells Bulletin 505:"Itm Power revenue" 392:Hydrogen Energy, SA 304:Industrial projects 141:£3.3 million (2018) 20: 1319:airqualitynews.com 1269:www.standard.co.uk 1081:. 9 September 2021 704:. 19 November 2019 204: 18: 1294:www.fch.europa.eu 1218:on 1 October 2012 1192:on 5 October 2012 1166:. 17 October 2012 1055:. 24 January 2020 1028:Renewablesnow.com 825:Renewablesnow.com 573:Renewablesnow.com 452:Motor Corporation 161: 160: 1631: 1585: 1584: 1582:Official website 1567: 1566: 1564: 1562: 1550: 1544: 1543: 1541: 1539: 1528: 1522: 1521: 1519: 1517: 1512:on 19 April 2012 1508:. 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Index


Traded as
LSE
ITM
ISIN
GB00B0130H42
Hydrogen economy
Sheffield
England
CEO
CTO
Electrolysers
www.itm-power.com
proton exchange membrane
green hydrogen
Power-to-X
Alternative Investment Market
London Stock Exchange
Sheffield

University of Birmingham
Linde plc
Snam S.p.A
Sumitomo Corporation
Shell
University of Nottingham
Air Liquide
Air Products and Chemicals
Daimler
Hyundai

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