ITM Power (ITM)

Sector:

Energy Producers

Index:

FTSE AIM 50

56.25p
   
  • Change Today:
      0.95p
  • 52 Week High: 98.58
  • 52 Week Low: 45.12
  • Currency: UK Pounds
  • Shares Issued: 616.98m
  • Volume: 4,166,896
  • Market Cap: £347.05m
  • RiskGrade: 405

ITM Power partnership seeks approval for UK's largest onshore wind farm

By Josh White

Date: Monday 12 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Energy storage and clean fuel technology company ITM Power updated the market on the 'Green Hydrogen for Glasgow' project with partners ScottishPower and BOC on Monday, reporting that a planning application had now been made for a 20MW electrolyser to be sited at ScottishPower Renewables' Whitelee Wind Farm near Glasgow.
The AIM-traded firm said it would be the UK's largest onshore wind farm, and represented a doubling in the planned electrolyser scale capacity, in response to market demand.

ScottishPower expected a decision on the planning application by the end of autumn 2021.

The Whitelee Wind Farm was the first site for which planning permission had been sought as part of the 'Green Hydrogen for Glasgow' project, the ITM Power board said.

It explained that the project was designed to provide carbon-free transport and clean air for communities across the city, which was aiming to become the first net-zero city in the UK by 2030.

The proposed green hydrogen project was being led by ScottishPower, would be engineered and operated by BOC, using wind and solar power produced by ScottishPower Renewables, and incorporate a 20MW electrolyser from ITM Power.

It was planned to supply hydrogen to the commercial market before 2023.

The 'Green Hydrogen for Glasgow' project was announced in September as part of a wider 'Green Hydrogen for Scotland# partnership.

ITM said the submission was an important step for the partnership between ScottishPower, BOC and itself to create green hydrogen production facilities with clusters of refuelling stations across Scotland.

Those clusters would allow Scotland's "abundant" renewable wind and power generation capacity to be converted to hydrogen for use by vehicles.

"This is an exciting milestone based on market development for green hydrogen for the city of Glasgow, that will see the UK's largest electrolyser deployment to date being realised in Scotland," said chief executive officer Graham Cooley.

At 0821 BST, shares in ITM Power were down 2.17% at 479.94p.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

ITM Power Market Data

Currency UK Pounds
Share Price 56.25p
Change Today 0.95p
% Change 1.72 %
52 Week High 98.58
52 Week Low 45.12
Volume 4,166,896
Shares Issued 616.98m
Market Cap £347.05m
RiskGrade 405

ITM Power Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
0.40% above the market average0.40% above the market average0.40% above the market average0.40% above the market average0.40% above the market average
80% below the sector average80% below the sector average80% below the sector average80% below the sector average80% below the sector average
Price Trend
64.37% below the market average64.37% below the market average64.37% below the market average64.37% below the market average64.37% below the market average
45.45% above the sector average45.45% above the sector average45.45% above the sector average45.45% above the sector average45.45% above the sector average
Income Not Available
Growth
33.48% above the market average33.48% above the market average33.48% above the market average33.48% above the market average33.48% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average

What The Brokers Say

Strong Buy 5
Buy 4
Neutral 5
Sell 5
Strong Sell 0
Total 19
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ITM Power Dividends

No dividends found

Trades for 17-May-2024

Time Volume / Share Price
16:35 3,201,934 @ 56.25p
16:35 1,872 @ 56.25p
16:35 1,873 @ 56.25p
16:35 3,540 @ 56.25p
16:35 12,458 @ 56.25p

ITM Power Key Personnel

Finance Director Andy Allen

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