By Rhea Healy2017-03-14T10:58:00+00:00
ITM Power, an energy storage and clean fuel company, has gained full planning permission to build hydrogen (H2) refuelling stations at four sites across the UK.
The Sheffield-based business has gained full planning permission at two sites in its home borough and four sites in Birmingham and Swindon. Additional sites have also been identified around London and near Leeds, Oxford, Bristol and Cardiff.
ITM Power currently operates four publicly accessible H2 refuelling stations in the UK, one on the M1 motorway funded by InnovateUK and three funded by the Fuel Cell and Hydrogen Joint Undertaking (FCH JU) and Office for Low Emission Vehicles (OLEV) under the HyFive Project.
With these new planning consents, the company has £17.35m ($21.2m) of revenue under contract and £6.41m ($7.8m) in the final stages of negotiation, constituting a total pipeline of almost £24m ($29m).
ITM Power’s CEO Dr. Graham Cooley emphasised that UK cities are now under increasing pressure to improve air quality, with these new stations part of the “significant headway” that the company has made in accelerating the roll out of commercial and passenger fuel cell electric vehicles.
ITM Power has conditionally raised a total of £5.7m ($7.1m) from the accelerated bookbuild offering and has released its interim results.
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