This hydrogen energy company is powering towards £1bn
Hydrogen gas is the most abundant chemical in the universe. When used by a fuel cell it is oxidised and the only resulting emission is water, making hydrogen a perfect fuel source, with numerous applications. One small UK company at the forefront of the hydrogen-based energy revolution has seen its share price soar over recent weeks. Is it set to become AIM’s next £1bn company?
News that Germany is getting behind hydrogen as an alternative to natural gas has seen an explosion of interest in hydrogen-based energy, which is being pushed as a solution to fill the energy gap left from the impending closure of nuclear and coal-fired power stations. Germany's focus is on the production of green hydrogen, made by converting wind or solar electricity into hydrogen through electrolysis, with the expectation that at least 20% of its hydrogen could be produced from renewable energy by 2030. AIM listed ITM Power Plc (LON:ITM) designs and manufactures products which generate hydrogen gas, based on Proton…