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ITM Power Plc

Multi-national companies show interest in ITM Power’s services

ITM Power plc (LON:ITM), the Sheffield-based energy storage and clean fuel company, today revealed that its services have attracted interest from multi-national companies.

In a trading update, ITM Power revealed that it has £22.64m of projects under contract, and a further £1.72m of contracts in the final stages of negotiation. Projects under contract have increased by £5.66m in the last 11 weeks.

ITM Power said it was increasingly receiving enquiries from multinational entities for “significantly larger platforms and for a broader range of applications”.

Dr Graham Cooley, the chief executive of ITM Power, commented: The increase in contracted projects over the last few months is testimony to the performance and cost reduction of ITM Power’s technology and to our vastly experienced sales team.

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Disclaimer: Statements in this article should not be considered investment advice, which is best sought directly from a qualified professional.