StockMarketWire.com - ITM Power is leading a consortium that, subject to final contract, has been awarded £1.37m in co-funding from the UK's innovation agency, the Technology Strategy Board, under its Agri-Tech programme.

The project is to design and build a system for the production of renewable fertiliser.

The integrated electrolyser based pilot scale system will be trialled at the UK farm owned by Waitrose.

ITM Power will receive approximately £0.6m of the project funding.

Chief executive Dr Graham Cooley said: "ITM Power is delighted to be working with Waitrose to produce renewable fertiliser at its UK farm. The widespread deployment of our technology has the potential to dramatically reduce the material greenhouse gas emissions associated with fertiliser production globally. This is a new and exciting market for us."


At 8:07am: [LON:ITM] ITM Power PLC share price was +0.75p at 34.25p



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