ITM Power wins £3.5m hydrogen contract

Energy storage and clean fuel company ITM Power has won a £3.5m contract to install a three megawatt electrolyser system in Britain.

The AIM-listed will deploy 3MW of electrolysis in the country with some associated hydrogen energy equipment.

ITM currently has £21.79m of revenue under contract and £2.86m in the final stages of negotiation, making its total pipeline worth £24.65m.

Shares in ITM Power up 4.62% to 18.70p at 0815 BST.