US Edition£85m Funding Boost Announced for Green Energy Firm
The funding includes a £40 million equity investment and a £46.5 million grant, supporting Chronos manufacturing and an update to ITM Power’s FY2026 cash forecast.
- The Sheffield-based ITM Power secured more than £86m in backing from government bodies to scale its hydrogen technology operations. The funding combines equity investment and grant support from British public institutions.
- Manufacturing the next-generation Chronos electrolyser stack is central to ITM's strategy for establishing itself at the heart of the British hydrogen economy. The investment enables large-scale domestic production of this advanced technology.
- Great British Energy invested £40m through a subscription to ITM shares, while the Department for Energy Security and Net Zero intends to award a £46.5m grant. Together these comprise the full backing package.
- Energy Secretary Ed Miliband stated the plan creates 'good industrial jobs for South Yorkshire,' while ITM updated its FY2026 cash forecast to $288m. The expanded financial position supports accelerated manufacturing buildout.
- ITM plans to establish a large-scale, automated British facility with annual capacity of 1GW for Chronos, which has already attracted strong orders. The facility positions the firm as a major hydrogen technology manufacturer.
13 Articles
13 Articles
ITM Power Plc (ITMPF) Pre Recorded Shareholder/Analyst Call Prepared Remarks Transcript
Dennis SchulzCEO & Director Good morning indeed, and thank you for the interest in the great news we are delighted to announce today. From our RNS this morning, you would have seen that the U.K. government has decided to back ITM Power with a combination of an equity investment and a grant, which is a strong vote of confidence in our technology and delivery credibility. It demonstrates the government’s commitment to promoting the U.K.’s sovereig…
ITM Power’s shares were released at the opening of the session with an advance of 10%. At noon they rose by almost 12%. The reason was an investment of £40 million from Great British Energy, the state electricity company specializing in investing in renewable sources, directly in the capital of ITM Power through a capital increase. In addition, ITM Power received a letter from the British energy department, granting it a subsidy of £46.5 million…
Hydrogen investment fuels South Yorkshire's next industrial era - to create over 400 new jobs
Hydrogen investment fuels South Yorkshire’s next industrial era – to create over 400 new jobs Major hydrogen project to create over 400 new jobs in technology that uses electricity to split water into hydrogen and oxygen. Major hydrogen project to create over 400 new jobs in technology that uses electricity to split water into hydrogen and oxygen, driving clean energy superpower mission with good jobs for British workers Great British Energy, t…
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
