Hydrogen storage and fuel specialist ITM Power (LON:ITM) said it successfully completed the earlier announced placing and open offer raising £5.8 million in total to finance its expansion and development plans.
That comprised £2.1 million from the placing announced on January 29 and £3.7 million from the open offer.
For the open offer, the firm received acceptances representing around 98% of the shares available, the firm said.
Dr Graham Cooley, chief executive, told investors: "We are delighted at the take up of the Open Offer, which in addition to the placing investment announced on 29 January 2016, aggregates to a total investment of £5.8 million, and will allow ITM Power to fulfil its current order book and continue to support the working capital of the business."