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Hardware & electrical equipment

ITM Power's pipeline fills up some more

ITM Power announced a £4.87mln increase in its order pipeline

ITM Power plc (LON:ITM) will be launching a series of large-scale refuelling station designs at the Hydrogen + Fuel Cells North America fair.

The trade fair is part of the SolarPower International Conference in Las Vegas.

The AIM-listed energy storage and clean fuel company said the large-scale refuelling station designs are based around electrolyser configurations of up to 50 megawatts in size with the capability to produce up to 20 tonnes of hydrogen per day.

READ: ITM Power welcomes reports that the UK government is proposing a ban on sale of petrol and diesel cars by 2040

ITM said the designs were in response to industry demand for larger scale industrial installations for refuelling heavy logistics vehicles, such as road haulage vehicles, ships and trains.

"These new refuelling station designs are being launched in response to a dramatic increase in the number of enquiries for refuelling heavy logistics vehicles at large scale as the viability of hydrogen power continues to gather scale and momentum across a growing number of industrial applications,” said Dr Graham Cooley, chief executive officer of ITM Power.

“ITM Power is delighted to be in a prime position to support these important transportation sectors as they plan their transition to a greener vehicle fleet to reduce emissions. Air quality and fossil fuel emissions is now a high priority for governments worldwide," he added.

Meanwhile, the company had some good news for investors, revealing that it had added to its order pipeline over the last two weeks.

Another £4.87mln of orders have rolled in, meaning the company currently has £23.54mln of project under contract and £16.67mln of contracts in the final stages of negotiation.

Shares in ITM jumped 11.07% to 27.35p in afternoon trading.

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