![]() “As we are scaling our operations, this is a major step in gearing up for an increasing degree of local content creation in the EU.”Īt 1244 BST, shares in ITM Power were up 0.24% at 67.56p. “This expansion in Germany will not only support responsive aftersales in the heart of the EU as our core market today, but will also be home for various business functions that are enablers for ITM's accelerated growth,” said chief executive officer Dennis Schulz. ITM Power said its Germany operation would serve as the hub for its global business development function, housing various engineering disciplines, aftersales technicians, field engineers, procurement personnel, and other essential functions. ![]() The establishment of a global data and industrial internet-of-things (IoT) team in Linden would spearhead those initiatives. With the deployment of stacks in active customer projects on the rise, ITM said it would gather a wealth of real-world performance data, which would serve as a foundation for driving advancements in its core technology and product improvements.Īdditionally, ITM Power was looking to develop new business models focused on remote monitoring and operations, and predictive maintenance. The facility would also feature repair and maintenance capabilities, along with dedicated spaces for customer and partner training. ![]() Such a setup would allow for the efficient deployment of spare parts, minimising response time and maximising the value customers derived from ITM’s products. It said the initial fit-out of the facilities would include office space for more than 50 employees, as well as a warehouse equipped with specialized storage for the company’s ‘stacks’ in lightweight skids. The AIM-traded firm said its new facility in Linden, north of Frankfurt, would officially open in October. Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds.Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so.Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body.Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services.Obtains access to the information in a personal capacity. ![]() I am a private investor* I am not a private investor *A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
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