In addition, ITM Power intends to raise up to c.£6.8 million through an open offer of 17,053,126 new ordinary shares at 40 pence per share.

 

ITM Power has also entered into a 50/50 joint venture with Linde which will focus on delivering green hydrogen to large scale industrial projects.

 

Investec’s Chris Sim commented:

“Investec is excited to have supported ITM Power with its recent fundraising. Together with the transformative investment and joint venture with Linde, a world leader in industrial gas and engineering, this capital raising will provide the company with a strong platform for the next stage in its journey.”

 

ITM Power is a specialist manufacturer of integrated hydrogen energy systems and was the first United Kingdom-based fuel cell company to go public when the company floated on the Alternative Investment Market (AIM) in 2004.

For more information, please contact:

Luke O’Mahony, Investec (Public Relations) - 020 7597 5261 

luke.omahony@investec.co.uk

 

Sarah Oppler, Lansons (PR agency for Investec CIB) - 020 7597 9709

saraho@lansons.com

 

Investec Corporate and Investment Banking
Investec CIB is a division of Investec Bank plc, an international corporate and investment bank working with growth-orientated companies, institutions and private equity funds. Our people set us apart – empowered, straightforward and invested in our clients’ long-term success. We provide capital solutions, advice and ideas, along with bespoke investment solutions and access to capital markets. Founded in 1974, The Investec Group has grown successfully through its client focussed approach and its ability to serve diverse and evolving financial needs.

 

This press release is issued on behalf of Investec Bank plc. Registered address: 30 Gresham Street, London, EC2V 7QP. (Reg No. 489604).  Investec Corporate and Investment Banking is a brand name of Investec Bank plc, which is a member of the London Stock Exchange.

 

Investec Bank plc (Reg. no. 489604) is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.