Intention to Purchase Site in Sheffield for the Second UK Giga Factory Collaboration With University of Sheffield
November 9, 2021 | 7 min read November 9, 2021 | 7 min readITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has reached agreement on Heads of Terms to acquire a site for the Company’s second UK factory in Tinsley, Sheffield, from the University of Sheffield at a cost of £13.4m. The site is part of the University of Sheffield Innovation District, and close to the M1 motorway and public transport links. It is approximately 2 miles from the Group’s existing Gigafactory and Technology Centre at Bessemer Park. The land has outline planning consent and a full design brief agreed with the City Council. The acquisition is subject to the grant of full planning permission for the new factory.