IN BRIEF: ITM Power shares jump as picked for 'large-scale' project

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ITM Power PLC - Sheffield-based designer and manufacturer of electrolyser systems for green hydrogen production - Says it has been selected as a supplier for a ‘large-scale’ project in the Asia Pacific region. The customer wishes to remain anonymous at this stage. ITM Power will supply over 300 megawatt of electrolysers to produce green hydrogen for use in a power plant, which it says will avoid carbon emissions. The project has received funding approval from local authorities, but remains subject to a final investment decision. ITM Power Chief Executive Officer Dennis Schulz says: ‘We are delighted to work with our customer to advance the engineering, permitting and wider plant integration to drive this large-scale project to FID.’

Current stock price: 41.64 pence each, up 16% late Monday morning in London

12-month change: down 20%

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