ITM Power PLC Directorate Change (7027R)
October 31 2019 - 3:00AM
UK Regulatory
TIDMITM
RNS Number : 7027R
ITM Power PLC
31 October 2019
31 October 2019
ITM Power plc
("ITM Power" or the "Company")
Board Changes
ITM Power (AIM: ITM), the energy storage and clean fuel company,
announces that Professor Roger Putnam CBE has decided to retire
from his role as Non-executive Chairman of the Company and
therefore will not stand for re-election at today's AGM and will
cease to be a director of the Company at the conclusion of the AGM.
ITM Power is pleased to announce that Sir Roger Bone, an existing
Non-executive Director of the Company, will be appointed as the new
Chairman.
Prof Roger Putnam said: "Following nine years as Chairman of ITM
Power, I have decided that now is the right time to step down from
the role. The Company has been transformed since I first became
Chairman and, following the recently completed fundraising and
joint venture with Linde, is in as strong a position as it has ever
been. I wish Sir Roger, the Board and the ITM Power staff all the
best over the coming years."
Sir Roger Bone said: "On behalf of the Board I would like to
thank Roger Putnam for all that he has done for the Company over
the years and for his highly valued leadership of the Company
during his tenure as Chairman. I am delighted to be appointed as
the new Chairman at this exciting time for the Company. We look
forward to welcoming a representative of Linde onto the Board in
the near future and also intend to appoint an additional
independent Non-executive director in due course."
Dr Graham Cooley, Chief Executive Officer of ITM Power, said:
"On behalf of everyone at ITM Power, I would like to thank Roger
for an outstanding contribution to the Company and to the hydrogen
Industry. His influence has contributed to a significant
reappraisal of hydrogen as a fuel and as an energy storage medium.
All of us at ITM Power thank him for his hard work and wish him a
long and happy retirement."
For further information please visit www.itm-power.com or
contact:
ITM Power plc (0)114 244 5111
Graham Cooley, CEO
Investec Bank plc (Nominated Adviser
and Broker) (0)20 7597 5970
Jeremy Ellis / Chris Sim
Tavistock (Financial PR and IR) (0)20 7920 3150
Simon Hudson / Nick Elwes / Barney
Hayward
About ITM Power plc
ITM Power plc manufactures integrated hydrogen energy solutions
for grid balancing, energy storage and the production of green
hydrogen for transport, renewable heat and chemicals. ITM Power plc
was admitted to the AIM market of the London Stock Exchange in
2004. In October 2019, the Company announced the completion of a
GBP58.8 million fundraise, including a subscription by Linde of
GBP38 million, together with the formation of a joint-venture with
Linde to focus on delivering green hydrogen to large scale
industrial projects worldwide. ITM Power signed a forecourt siting
agreement with Shell for hydrogen refuelling stations in September
2015, (which was extended in May 2019 to include buses, trucks,
trains and ships) and in January 2018 a deal to deploy a 10MW
electrolyser at Shell's Rhineland refinery. ITM Power announced the
lease of the world's largest electrolyser factory in Sheffield with
a capacity of 1GW (1,000MW) per annum in July 2019. Customers and
partners include Sumitomo, Ørsted, National Grid, Cadent, Northern
Gas Networks, Gasunie, RWE, Engie, BOC Linde, Toyota, Honda,
Hyundai and Anglo American among others.
-ends-
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END
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