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
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
