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The latest update is out from ITM Power ( (GB:ITM) ).
ITM Power has been selected by Uniper for a significant 120MW green hydrogen project, the Humber H2ub® (Green), in the UK. This project, part of the UK’s Hydrogen Allocation Round 2, will utilize ITM’s POSEIDON core electrolysis modules and aims to decarbonize the Humber Refinery while creating skilled jobs in the area. The project is pending a Final Investment Decision expected in 2026, with operations targeted for 2029.
Spark’s Take on GB:ITM Stock
According to Spark, TipRanks’ AI Analyst, GB:ITM is a Neutral.
ITM Power’s overall stock score is impacted by its financial struggles, with negative profitability and cash flow issues being the most significant factors. Despite strategic partnerships and improved revenue guidance, the company’s valuation remains a concern due to ongoing losses. Technical indicators are neutral, providing little support to offset financial weaknesses.
To see Spark’s full report on GB:ITM stock, click here.
More about ITM Power
ITM Power, founded in 2000 and listed on the AIM market of the London Stock Exchange in 2004, is headquartered in Sheffield, England. The company specializes in designing and manufacturing electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen using renewable electricity and water.
Average Trading Volume: 2,520,045
Technical Sentiment Signal: Sell
Current Market Cap: £193.9M
See more insights into ITM stock on TipRanks’ Stock Analysis page.
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