iTM .... PHE8 Sep 2021 07:59
hydrogen pioneers ITM power strengthen leadership
from
Alban Thurston
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September 6, 2021
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Sheffield-based ITM Power, the UK-based blade maker hoping to get rich in the global clean hydrogen gold rush, has spent the summer adding to its management team to supply over £ 150m worth of orders, including the world's largest PEM electrolyser.
In conjunction with the new renewable energy branch of its landlord Peel in UK industrial estates, ITM is offering its proprietary Proton Exchange Membrane (PEM) electrolysis technology, which is geared towards extracting green hydrogen from plastic waste.
The low-carbon gas produced in this way is a precursor for grid-scale electricity storage, for low-carbon fuels for transport, and for industrial processes in heating and manufacturing.
In June, the company reported a 62% increase in work in progress for the twelve months to April to £ 35.4 million and a tripling of its orders pipeline to a record £ 154 million.
In January, ITM won an order from Linde, its German partners and investors since January 2020 for the world's largest PEM electrolyser with 24 MW.
CEO Graham Cooley said the company was excited about the quality of the applicants at the senior hires announcement today. It is "reflected in the great people whose appointments we announced today," he said.
Martin Clay joins ITM Power as the first Operations Director. Before that, Clay was managing director of Kostal UK, a supplier of electromechanical switchgear for automobile manufacturers, quality manager at Kostal for 13 years and quality manager for production for two years.
With an FMCG background, Sharon Poulter joins as Marketing Director. She was drawn to the opportunity to work in a company whose products help protect the climate.
With a BSc in astrophysics and a PhD in rapid prototyping, Dr. Rosemary Gault as Head of Grant Partnership Funding at ITM. She draws her experience from positions at Boeing, the Advanced Manufacturing Research Center and the European Commission. In Brussels, she was responsible for research, drafting of funding, and offer development and analysis.
Barry Cunliffe returns as Project Risk Manager. Prior to this, he was ITM's Finance Director for five years until 2014 and led two equity financing rounds. During his hiatus, Cunliffe ran finance for a group of Sheffield engineering companies.
The recruitment round will be completed by Helen Baker Company Secretary, Neil Dwane as Capital Markets Advisor and Justin Scarborough as Financial Analyst in Investor Relations.
In November ITM completed a £ 172 million fundraising including a £ 30 million investment by Italian infrastructure engineers Snam. Cooley's customers and employees include Sumitomo, Ørsted, Scottish Power, Siemens Gamesa, Cadent, Northern Gas Networks, RWE, Engie, GNVert, Toyota, Hyundai and Anglo American.
Investors smiled at the new hires. At 2pm today, ITM Power's share price
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