ITM Power extends Shell hydrogen refuelling deal
ITM Power has extended a hydrogen refuelling agreement with Royal Dutch Shell for five years.
Cboe Brexit Low 50
15,414.21
17:05 19/04/24
Cboe Europe 50
17,376.72
11:45 01/12/20
Cboe Europe All Companies
50.76
11:45 01/12/20
Cboe Europe Energy Sector
12,245.50
11:45 01/12/20
Cboe UK 100
788.44
17:05 19/04/24
Cboe UK 100 NTR
852.57
17:05 19/04/24
Cboe UK 350
13,880.95
17:05 19/04/24
Cboe UK 350 NTR
22,368.30
17:05 19/04/24
Cboe UK All Companies
13,767.27
17:05 19/04/24
Cboe UK All Companies NTR
22,827.20
17:05 19/04/24
Cboe UK Energy Sector
12,011.80
17:05 19/04/24
Cboe UK Energy Sector NTR
22,887.04
17:05 19/04/24
FTSE AIM All-Share
745.67
17:08 19/04/24
ITM Power
51.40p
16:35 19/04/24
Royal Dutch Shell 'A'
1,900.40p
16:30 28/01/22
Royal Dutch Shell 'B'
1,900.40p
16:30 28/01/22
The energy storage and clean fuel company said the new agreement would cover refuelling of hydrogen vehicles, including passenger cars, buses, trucks, trains and ships.
The companies signed an initial agreement in September 2015 and the partnership will now run until 2024. ITM shares rose 3.4% to 27.2p at 10:54 BST.
ITM’s chief executive Graham Cooley said: “We have been working together since 2015 and have developed a trusted partnership that forms a solid basis to expand in the UK and worldwide.”
ITM runs two hydrogen refuelling stations at Shell’s Cobham and Beaconsfield service stations and four further stations are funded. A station at Shell’s Gatwick site will open later in 2019 with another to follow in Derby by the end of the year and two London stations planned.
Mike Copson, Shell’s hydrogen business development manager, said: "The successes we have achieved at Shell Cobham and Shell Beaconsfield are a strong step toward making hydrogen a convenient and viable fuel choice, and we look forward to continuing to expand the UK's developing network."