2 March 2015
ITM Power plc
("ITM Power" or "the Company")
Update on discussions with a potential strategic industry investor
On 29 January 2015, ITM Power (AIM: ITM), the energy storage and clean fuel company, announced that it was in advanced discussions with a potential strategic industry investor in relation to a significant investment for a material equity stake in the business.
ITM Power confirms that those negotiations remain ongoing and that it will update the market further when it is in a position to do so.
|
ITM Power plc Graham Cooley, CEO |
+44 (0)114 244 5111 |
|
Zeus Capital Dan Bate / John Treacy / John Goold |
+44 (0)20 7533 7727 |
|
Tavistock Communications Simon Hudson / James Collins |
+44 (0)20 7920 3150 |
About ITM Power plc:
ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and raised its initial funding of £10m gross in its IPO. Further funding rounds of £28.5m in 2006, £5.4m in 2012, £2m in 2013 and £10m in 2014 have been completed. The Company has now made the transition from a research and development company to a product manufacturer and technology provider. The Company currently has £8.76m of projects under contract and a further £2.61m of contracts in final stages of negotiation.
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This information is provided by RNS