Investec acts as Joint Bookrunner and Nomad to ITM Power
Investec acted as Joint Bookrunner and Nomad on ITM Power’s milestone £250m equity raise.
ITM Power raised £250m via a placing of new ordinary shares. Since 2019, Investec has helped ITM raise a total of £475m. This latest capital raise will allow ITM to significantly scale up and expand its operations and for continued technological and corporate development to take advantage of the forecast exponential demand growth in the global green hydrogen electrolyser market. The proceeds of the equity raise will enable ITM to expand its manufacturing capacity from 1GW to 5GW by 2025 including the establishment of its first international gigafactory. The transaction received strong support from existing and new investors, including ITM’s strategic partner, Linde A.G.
About ITM Power
ITM Power plc manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of renewable hydrogen for transport, renewable heat and chemicals. It is listed on AIM with a market capitalisation of c.£2.5bn.