Hydrogen power specialist in £4.2 million move

Posted on 19 Nov 2018 and read 378 times
Hydrogen power specialist in £4.2 million move Sheffield-based ITM Power (www.itm-power.com) is set to create 45 new jobs in a multi-million-pound move to a new factory in Rotherham.

The company has submitted plans to move into a large industrial unit and start manufacturing hydrogen energy systems as part of a £4.2 million investment.

It would close its two existing sites (in Atlas, Sheffield, and on the Sheffield Business Park).

Graham Cooley, chief executive, said the move was a “very important step. The hydrogen industry is now moving very quickly, and ITM is a very successful part of that new industry.”

ITM Power is receiving a £400,000 grant from the Business Investment Fund, controlled by the Sheffield City Region organisation.

The company said that activity levels had ‘significantly increased’ in the year to May 2018, and it had raised £29.4 million via a share placing and open offer.

The group has an order book worth £24.1 million and further contracts worth £6.5 million in the final stages of negotiation.

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