HYCAP completed the acquisition of Motive Fuels from ITM Power.

HYCAP, a private equity fund, completed the acquisition of Motive Fuels, a network of integrated green hydrogen refuelling stations, from ITM Power, an energy storage and clean fuel company. Financial terms were not disclosed. "This sale will allow us to redirect £28m of pre-committed ringfenced capital to our core business. Under its new ownership, we wish Motive every success for the future and the contribution that it will play in helping to decarbonise the UK transport sector," Dennis Schulz, ITM Power CEO.