22 July 2011 – incorporation of ITM Power GmbH
The incorporation of ITM Power GmbH, a wholly owned German subsidiary company, has been announced along with the appointment of Philip Doran as its Managing Director. The Company is based in Frankfurt am Main.
The German market is seen as being important for the early uptake of hydrogen technologies. ITM Power have commented that their presence in Germany is essential if it is “to play a full role in the development of the European hydrogen infrastructure both in transportation and energy storage”. The shares remain a BUY.