ITM Power does deal with EADS
Shares in ITM Power, the energy storage and clean fuel company, jumped on Monday after it announced a deal with Airbus' parent company, EADS.
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.
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Energy bills to rise by 1.2% in January 2025
Energy bills are set to rise 1.2% in the New Year when the latest energy price cap comes into play, Ofgem has confirmed
By Dan McEvoy Published
-
Should you invest in Trainline?
Ticket seller Trainline offers a useful service – and good prospects for investors
By Dr Matthew Partridge Published