Shares in ITM Power, the energy storage and clean fuel company, jumped on Monday after it announced a deal with Airbus' parent company, EADS.
Sheffield-based ITM has sold its first hydrogen generation system to EADS for use by its research arm, Innovation Works, in its energy and propulsion laboratory.
It did not give details of the value of the sale.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"EADS is a very high quality organisation at the forefront of technology and we are delighted to have forged such a productive relationship," said ITM Chief Executive Dr Graham Cooley.
The firm's shares rose 12% following the announcement.
-
Saba Capital and Boaz Weinstein respond to investment trustsAs investment trust managers and industry experts accuse Saba of self-motivated opportunism, the hedge fund responds to specific "misleading claims" and sets out its stall
-
How to find top-quality companies with growing dividendsIan Mortimer, portfolio manager of Guinness Global Equity Income Fund, shares where he would put his money for sustainable and growing dividends
