The dust has settled on a rally to the top and a share price that nearly tripled temporarily. Stock market experts like to call it chart consolidation and profit taking. ITM (London: ITM) was successful in raising EUR 120 million in fresh capital. Now, the British manufacturer’s market capitalization is above long-term expectations despite its bright outlook. I think investors should put this one on the watchlist, but look for other, more promising options in the meantime.
ITM Power (London: ITM) based in the UK was able to increase bookings by GBP 4.87 million to GBP 23.54 million. Projects for which contracts should be awarded soon have a combined value of GBP 16.67 million, so that the expected backlog is at around GBP 40 million. An intriguing product development is ITM’s recent showcase of a 50-megawatt electrolyzer design at the Las Vegas trade show SPI. It reportedly made it possible to produce 20 tons of hydrogen per day.
This year’s June issue came with a detailed description of the electrolyzer market and in-depth reports on manufacturers and their products. But of course, the list wasn’t exhaustive, as numerous businesses have entered the segment and much had to be left unsaid. Many of those suppliers exhibited at Hannover Messe, showcasing their latest developments. Considering the great interest in our previous article on the technology, we thought to create a summary
ITM Power (NASDAQ: ITMPF) is the first R&D fuel cell business from the UK making the jump onto the British stock exchange. ITM manufacturers power-to-gas systems, H2 filling stations and electrolyzers. Currently, it is working on a module-based electrolyzer that could allow for combinations offering up to 100 MW capacity.
The parliamentary evening organized each year by the German Hydrogen and Fuel Cell Association (DWV) was held at the British embassy in Berlin in mid-November of 2015. More members of parliament than ever showed up to the event dedicated to Green Hydrogen for an Efficient Energy Transformation.