Burges Salmon advises ITM Power on £40m Great British Energy investment and £46.5m government grant to scale Chronos electrolyser manufacturing

"Burges Salmon’s Equity Capital Markets team advised long‑standing client ITM Power on a £40m strategic equity investment by Great British Energy, alongside confirmation that the Department for Energy Security and Net Zero intends to award a £46.5m grant. The combined proceeds will support UK scale‑up of ITM Power’s next‑generation Chronos electrolyser stack and a new automated manufacturing line with up to 1GW annual capacity, aiming to improve efficiency, reduce costs and create skilled jobs. The deal, led by partner AJ Venter, is presented as a strong endorsement of ITM Power’s technology and UK clean‑energy manufacturing."