City briefs: Carclo; ITM Power; and more
Ossett-headquartered high-precision plastics components provider, Carclo, has appointed Ian Tichias as chief financial officer and executive director.
Eric Hutchinson had informed the Board of his intention to retire from the CFO role in 2025.
Tichias will join the company and the Board with effect from 1 April 2025 following Hutchinson’s retirement on 31 March 2025.
Tichias was previously the chief financial officer at Xaar PLC where he drove a financial turnaround and significant systems and controls improvements over a period of over four years.
He brings strong experience as a finance leader in both listed and private businesses.
His experience spans both small, agile international multi-site manufacturing operations and larger companies with best-in-class systems and processes.
Tichias is a fellow of the Institute of Chartered Accountants in England and Wales having qualified with MacIntyre Hudson in 1996.
Joe Oatley, Carclo chairman, said: “I would like to express my sincere thanks to Eric for his significant contribution to Carclo both as a Board member and, latterly, as CFO.
“Eric stepped up to be CFO from his position as a non-executive director when the group was at a critical point and he has been an integral part of driving the turnaround, bringing both stability and improved performance to the group. We wish Eric well in his retirement.
“I am pleased to welcome Ian Tichias onto the Board and as CFO. He brings a wealth of finance experience and expertise in a manufacturing environment, and we look forward to him joining the team as we build on our turnaround and deliver sustainable earnings growth into the future.”
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Energy storage and clean fuel company, ITM Power, has won a contract to supply four of its NEPTUNE V electrolyser plants, totalling 20MW, to La Française de l’Energie SA (FDE), an independent multi-energy producer.
NEPTUNE V is a 5MW containerised green hydrogen plant, which uses Sheffield-based ITM’s TRIDENT stack technology.
The NEPTUNE V units will be deployed into the first phase of Norway’s Hydrogen Hub Agder project, which is 100% owned by Greenstat, a subsidiary of FDE, developing green energy production projects in Norway.
The 20MW green hydrogen hub facility will be dedicated to supplying the maritime industry, and production is expected to start in late 2026.
Dennis Schulz, CEO of ITM, said: “The Nordic countries present an exciting opportunity for green hydrogen, and it is a privilege that FDE has selected us for the Agder Hydrogen Hub in Norway.”
Antoine Forcinal, CEO of FDE, added: “We are happy to work with ITM as a partner for the supply of an integrated electrolyser solution for our Agder Hydrogen Hub project, one of the largest green hydrogen projects in Norway.”
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Real Estate Investment Trust (REIT), Urban Logistics, has completed new lettings over five units, totalling 301,000 sq ft of space and £3m per annum headline rent, since 30 September 2024.
These deals included Trax Park, in Doncaster, where a 130,677 sq ft unit was let to Unipart Rail Ltd for a term of 10 years.
Urban Logistics acquired this property in September 2024 and had it refurbished, with improvements including significant solar generation capacity.
Commenting on the firm’s performance, Richard Moffitt, investment adviser CEO, said: “Underlying demand for the company’s last touch logistics assets remains strong, as evidenced by the very positive like-for-like growth figures seen in this leasing activity.
“These transactions also evidence the high quality of the assets acquired at the end of 2024, and our ability to add value to them.
“Rapidly securing new tenants and adding significantly to annual rental income will drive immediate capital growth.”
