Multi-national companies show interest in ITM Power's services

ITM Power, the Sheffield-based energy storage and clean fuel company, today revealed that its services have attracted interest from multi-national companies.

Graham Cooley of ITM Power in Sheffield

In a trading update, ITM Power revealed that it has £22.64m of projects under contract, and a further £1.72m of contracts in the final stages of negotiation.

Projects under contract have increased by £5.66m in the last 11 weeks.

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ITM Power said it was increasingly receiving enquiries from multinational entities for “significantly larger platforms and for a broader range of applications”.

Dr Graham Cooley, the chief executive of ITM Power, commented: “The increase in contracted projects over the last few months is testimony to the performance and cost reduction of ITM Power’s technology and to our vastly experienced sales team.”

ITM Power is helping to meet the need for clean fuel in the transport, renewable heat and chemicals sectors.

The company was admitted to the AIM market of the London Stock Exchange in 2004.