ITM Power - Re: ITM Stream Log - ITM Power says it is...

ITM Power says it is scheduled to have five of its refuelling stations in operation in the UK by the end of the year, and a further three are in the final stages of negotiation. Its first London refuelling station, at the National Physical Laboratory in Teddington, will open in May, with the second, at the Centre for Engineering and Manufacturing Excellence in East London, opening in July. Last September it announced a deal with Shell for three forecourt refuelling stations, and it says these will be opened before year end. It added that three further UK refuelling stations in the final stages of negotiation. It also reported that ITM Power has become an approved supplier to BOC, part of the Linde group, and an approved subcontractor and supplier to Artelia, a leading fuel forecourt designer and architect. Last year ITM opened its first UK refuelling site at The Advanced Manufacturing Park, near the M1 motorway network in South Yorkshire. Andy Allen, CFO, ITM Power, commented: “We are in a strong financial position now that we have secured the working capital required to realise the existing pipeline. Client confidence in ITM Power has increased as a result of the stronger balance sheet. We look forward to updating the market as further sales are achieved.”