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ITM Power PLC (AIM:ITM) said a £46.5 million grant from the Department for Energy Security and Net Zero has been formally awarded, giving the electrolyser maker public-sector backing for its next-generation Chronos manufacturing line in Sheffield. The grant, first announced in April, comes alongside a £40 million equity investment from Great British Energy.
Garching / Munich, July 7, 2026 – ITM Isotope Technologies Munich SE (ITM), a leading radiopharmaceutical biotech company, today announced the publication of its primary result analysis of the Phase 3 COMPETE trial in The Lancet. The clinical data demonstrated that non-carrier-added (n.c.a.) 177Lu-edotreotide (also known as 177Lu-edotreotide or ITM-11) significantly improved progression-free survival (PFS) compared to everolimus in patients with Grade 1 or Grade 2 somatostatin receptor (SSTR)-positive gastroenteropancreatic neuroendocrine tumors (GEP-NETs). The publication, titled “[177Lu] Lu-edotreotide versus everolimus for gastroenteropancreatic neuroendocrine tumours (COMPETE): a phase 3, multicentre, randomised, open-label, superiority trial,” appeared online on July 2, 2026, and can be accessed via the following link: doi.org/10.1016/S0140-6736(26)00604-5. “COMPETE provides the first high-level evidence directly comparing peptide receptor radionuclide therapy (PRRT) with everolimus, a commonly used systemic standard-of-care therapy, in the treatment of advanced GEP-NETs,” said Jaume Capdevila, MD, PhD, last author, study investigator and senior medical oncologist at Vall d'Hebron University Hospital, Barcelona. “The efficacy and safety results observed with 177 Lu-edotreotide support its consideration as a potential treatment option for appropriate patients, including those whose disease has progressed following somatostatin analog (SSA) therapy.” “Publication of these data in a peer-reviewed journal underscores the scientific importance of the COMPETE study and provides an important forum for dissemination of the results,” added Thomas Walter, MD, PhD, first author, study investigator and professor of gastroenterology, Hospices Civil of Lyon, France. “These findings offer additional insights into PRRT and support 177Lu-edotreotide as a potential therapeutic option in advanced GEP-NETs, where a high unmet need remains.” COMPETE Trial Results The randomized, open-label Phase 3 COMPETE trial evaluated n.c.a. 177Lu-edotreotide versus everolimus in 309 patients with advanced, progressive, Grade 1 or Grade 2 SSTR-positive GEP-NETs across 49 global sites. Patients were randomized 2:1 to receive 177Lu-edotreotide every three months for up to four cycles or everolimus daily for up to 30 months. Patients were not required but permitted to receive SSAs at the investigator's discretion for symptom control only. Overall, 21% of patients received concomitant SSA treatment during the study, with similar proportions receiving SSAs in each treatment arm. Top line results of the trial were initially presented at ENETS 2025 and ESMO 2025. Key findings from the COMPETE trial include:
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ITM Power PLC (AIM:ITM) and Ceres Power Holdings PLC (LSE:CWR, OTC:CPWHF) have staged two of the most dramatic recoveries on the London market this year, with their shares up 160% and 230% respectively since January. Jefferies has responded by sharply upgrading its price targets on both stocks while sounding a note of caution about valuations that are beginning to echo the hydrogen hype of 2021.
ITM Power PLC (AIM:ITM) shares soared, rising more than 35% to 127.56p, after it announced it has teamed up with Rheinmetall AG on a defence-focused synthetic fuels project that could open a repeatable route for large-scale electrolyser deployments, as the pair target a planned Europe-wide network of decentralised e-fuel plants for NATO armed forces. The collaboration centres on Rheinmetall's Giga PtX project, which is designed to strengthen defence energy resilience, sovereign fuel capability and operational readiness.
ITM Power PLC (AIM:ITM) shares advanced on Thursday, climbing around 12% to 72p, after announcing it had secured £86.5 million of UK government backing to build a 1GW manufacturing line for its next-generation Chronos electrolyser stack technology in Sheffield, giving the hydrogen specialist a sizeable balance-sheet lift and a clearer route to scaling domestic production. The package includes a £40 million strategic equity investment from Great British Energy and a proposed £46.5 million grant from the Department for Energy Security and Net Zero.
ITM Power PLC (AIM:ITM) said it has secured two engineering contracts with a combined capacity of 70 MW, sending its shares up 6% to 66.3p. The first award is a basic design engineering package for an industrial customer in Australia, deploying multiple units of its Neptune V containerised green hydrogen plant.
ITM Power PLC (AIM:ITM) has been selected by Stablegrid Group to supply technology for two energy infrastructure projects in Germany with a combined capacity of 710 MW. The projects will use electrolysers to support grid balancing by converting surplus renewable power into hydrogen stored in underground caverns.
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