ITM Power PLC Board Appointment (6494O)
21 May 2018 - 4:01PM
UK Regulatory
TIDMITM
RNS Number : 6494O
ITM Power PLC
21 May 2018
21 May 2018
ITM Power plc
("ITM Power" or the "Company")
Appointment of Andy Allen to the Board as Finance Director
ITM Power (AIM: ITM), the energy storage and clean fuel company,
is pleased to announce the appointment of Andrew Charles Allen, 36,
currently CFO, to the Board of the Company as Finance Director with
immediate effect.
Andy Allen qualified as a chartered accountant in Sheffield in
2007, and has an extensive background in auditing manufacturing
SMEs in South Yorkshire. Andy joined ITM Power in 2011 as Financial
Controller before becoming CFO in 2015.
Prof. Roger Putnam, Chairman of ITM Power, commented, "We are
delighted that Andy is joining ITM Power's Board. He has been an
integral part of the management team in his position as CFO and his
contribution in the period since he joined has been invaluable. We
are today recognising his contribution with this appointment."
For further information please visit www.itm-power.com or
contact:
ITM Power plc
Andy Allen, Finance Director +44 (0)114 244 5111
Investec Bank plc (Nominated Adviser and
Broker)
Jeremy Ellis / Chris Sim / Alexander Ruffman +44 (0)20 7597 5970
Tavistock (Financial PR and IR)
Simon Hudson / James Collins +44 (0)20 7920 3150
Andy Allen holds no shares in ITM Power but holds options over
50,000 shares at an exercise price of 55p. He is a director of
Mistral (Kenwood Road) Management Company Ltd. There is nothing
further to disclose in relation to his appointment under Schedule
2(g) of the AIM Rules for Companies.
About ITM Power plc
ITM Power manufactures integrated hydrogen energy solutions for
grid balancing, energy storage and the production of green hydrogen
for transport, renewable heat and chemicals. ITM Power was admitted
to the AIM market of the London Stock Exchange in 2004. In
September 2017 the Company announced the completion of a GBP29.4m
working capital fundraise. The Company signed a forecourt siting
agreement with Shell for hydrogen refuelling stations in September
2015 and subsequently a deal to deploy a 10MW electrolyser at
Shell's Rhineland refinery. Additional customers include National
Grid, RWE, Engie, BOC Linde, Toyota, Honda, Hyundai, Anglo American
among others. The Company's order pipeline stands at GBP33.6m of
projects under contract and GBP6.4m of contracts in the final
stages of negotiation, totaling GBP40.0m (subject to exchange rate
variation).
-ends-
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END
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