Investor Update: ITM Power announces major strategic investment and £52mln fundraise

Headlines from the Proactive UK newsroom.

ITM Power (LON:ITM) has brought in a big partner as part of a major fundraise. German group Linde is subscribing for £38mln and will establish a joint venture with ITM to work on large scale industrial projects. ITM will raise a further £14mln through a placing and up to another £6.8mln via an open offer. 

Applied Graphene Materials (LON:AGM) has developed a composite material technology to be used in space. Partner Infinite Composites successfully incorporated AGM's graphene technology into two resin systems for cryogenic pressure vessels being considered for use in NASA spaceflight missions.

Tower Resources (LON:TRP) has given technical data to a potential partner for its blocks in Namibia. The interested party is a major international oil company that held preliminary discussions earlier this summer. 

Tobacco group Imperial Brands is parting company with Alison Cooper, its chief executive for the past nine years. Problems with its vaping range sparked a profit warning last week.

Clothes retailer Ted Baker slumped into a half year loss, slashed its interim dividend and warned things are not looking much better in the second half.

Stagecoach expects its legal action against the Department of Transport over being barred from bidding for rail franchises to come to court early next year. Its remaining bus business has seen mixed trading 

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