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ITM Power announces £52m equity fundraising

ITM Power announces £52m equity fundraising

Fears over climate change are increasingly driving investment mandates. Governments and international organisations are getting on board, with emissions reduction targets set out in the COP21 Paris Agreement on climate change, while pension and sovereign wealth funds are tailoring their investment portfolios in favour of sustainable technologies. ITM Power (ITM) is looking to take advantage of the trend, so alongside its full-year results it announced a new £38m investment from Linde Engineering as a strategic partner, together with a £14m share placing with new and existing shareholders, and an open offer of up to £6.8m. 

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