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    ITM   GB00B0130H42

ITM POWER PLC

(ITM)
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ScottishPower, BOC, ITM Propose to Deploy U.K.'s Largest Hydrogen Electrolyzer in Glasgow

04/12/2021 | 03:43am EDT

By Jaime Llinares Taboada

ITM Power PLC said Monday its partnership with ScottishPower and BOC has made a planning application to site a 20-megawatt hydrogen electrolyzer at the Whitelee wind farm, near Glasgow.

This would be the U.K.'s largest electrolyzer facility, and the proposed capacity doubles the previously planned scale in response to market demand, ITM said.

The project aims to supply hydrogen to the commercial market before 2023. It will be engineered and operated by BOC, using wind and solar electricity produced by ScottishPower, and incorporates an electrolyzer to be delivered by ITM, it said.

A decision on the planning application for the electrolyzer is expected by the end of autumn 2021, ITM said.

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

(END) Dow Jones Newswires

04-12-21 0342ET

Stocks mentioned in the article
ChangeLast1st jan.
IBERDROLA, S.A. 1.59% 11.52 Delayed Quote.-1.54%
ITM POWER PLC 13.55% 390.4 Delayed Quote.-24.34%
LINDE PLC 0.85% 298.93 Delayed Quote.13.44%
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04/13IBERDROLA S A  : Iberdrola brings green hydrogen to Glasgow
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Financials
Sales 2021 6,06 M 8,47 M 8,47 M
Net income 2021 -20,8 M -29,1 M -29,1 M
Net cash 2021 173 M 242 M 242 M
P/E ratio 2021 -98,2x
Yield 2021 -
Capitalization 2 150 M 3 007 M 3 007 M
EV / Sales 2021 326x
EV / Sales 2022 68,8x
Nbr of Employees 218
Free-Float 59,2%
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Technical analysis trends ITM POWER PLC
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 702,78 GBX
Last Close Price 390,40 GBX
Spread / Highest target 128%
Spread / Average Target 80,0%
Spread / Lowest Target 12,7%
EPS Revisions
Managers and Directors
NameTitle
Graham Cooley Chief Executive Officer & Executive Director
Andrew Charles Allen Finance Director & Executive Director
Roger Bridgland Bone No-Executive Chairman
Simon Bourne Executive Director & Chief Technology Officer
Rachel Louise Smith Executive Director
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