ITM Power, which makes hydrogen fuel cells, has risen significantly this morning after announcing a tie up with UK retailing giant Marks & Spencer.
Using ITM's platform to generate hydrogen, the six week trial will see M&S using several fuel cell vehicles as a direct substitute for part of the existing battery powered fleet.
The move is part of M&S's"Plan A" initiative which aims to deliver zero emission vehicles which offer a two minute refuel time.
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
ITM's Chief Executive, Graham Cooley, says: "The involvement of companies such as M&S is essential to developing commercially viable hydrogen solutions".
At 09:37, ITM's shares had gained 8%. Over the last 12 months, however, the stock is down 32%.
BS
-
-
Act now: First Direct’s £175 switching bonus ending soon
First Direct has launched a £12,500 prize draw on top of its £175 cash bonus - but they both finish soon, so you’ll need to be quick
-
Credit card providers slash 0% balance transfer deals
Customers face a double whammy of rising interest rates and shorter 0% balance transfer periods. We look at what’s going on in the credit card market and why you’ll need to act fast to get the top 0% balance transfer deal
