Ceres and ITM Power soar after ‘Green Day’ hydrogen lift
Hydrogen companies received a boost after the government earmarked hydrogen as key in its future energy strategy on Thursday
Company
LON:ITM
ITM Power specialise in the manufacture of integrated hydrogen energy systems. Founded in June 2001, the company floated on the Alternative Investment Market (AIM) in 2004 and was the first United Kingdom-based fuel cell company to go public. ITM Power operates out of two premises in Sheffield, UK with further offices in Germany, France the USA and Canada.
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Hydrogen companies received a boost after the government earmarked hydrogen as key in its future energy strategy on Thursday
New chief executive Denis Schulz said the company has to narrow its product focus
Hardware & electrical equipment
ITM's share price fell from 103.7p to 89p in early trading, after it warned it would miss full-year forecasts
Hardware & electrical equipment
Jefferies has cut its rating on the hydrogen electrolyser specialist has to ‘hold'
Hardware & electrical equipment
Warranty costs are set to soar due to the limited data available
Hardware & electrical equipment
The German bank's analysts noted that the hydrogen energy company has delayed and reduced its manufacturing scale-up plans
Archive
A look at some of the major movers in London on Friday
Hardware & electrical equipment
Is the hydrogen energy balloon deflating? JPMorgan seems to think so.
Hardware & electrical equipment
The project aims to supply hydrogen to the commercial market before 2023
A €15bn per year total addressable market is seen for electrolyser manufacturers by 2030
Pure-play hydrogen stocks (including Ballard Power, Plug Power, Ceres Power Holdings plc (LON:CWR), ITM and Nikola) are up 1,267% over a year and have added 115% in just the last month
Archive
Italy’s Snam SpA will brush aside Brexit and invest 33 million euros ($39 million) in ITM Power Plc, which produces electrolyzers, a crucial component in the hydrogen technology. The investment is part of a 150-million pound ($197 million)
A look back at some of the more interesting stories from London's AIM market this week
Hardware & electrical equipment
ITM and Iwatani both want to reduce pollutants and improve air quality in North America by offering low-carbon-intensity derived hydrogen as an energy source.
Hardware & electrical equipment
It is the company's eighth facility and the second of two developed as part of the European H2ME2 project