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111.50 -0.60 (-0.54%)

Bid:

111.60

Ask:

112.30

Spread: 0.70 (0.627%)

Market Cap: £769.57m

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IN BRIEF: ITM launches efficiency improving hybrid stack

Wed, 08th Nov 2023 10:03

ITM Power PLC - Sheffield, England-based maker of electrolysers to produce green hydrogen - Launches hybrid stack to provide customers opportunity to benefit from an approximate 10% efficiency improvement. A hybrid stack is a mix on on-location and cloud-based solutions used to support a firm's operations. It also reduces electrolyser operating costs. Says: "The Hybrid Stack makes available advancements incorporated into our latest Trident stack platform, to earlier MEP generation electrolysers. In this way, operators of ITM electrolyser systems maintain access to our technology improvements as they become available."

Chief Executive Officer Dennis Schulz says: "The Hybrid Stack makes our latest technology available to existing customers who can now take full advantage of efficiency improvements."

Current stock price: 63.18 pence, down 1.1%

12-month change: down 32%

By Sabrina Penty, Alliance News reporter

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