REG - ITM Power PLC - 10MW Standard Configuration FEED contract

ITM PowerAnnouncement

24/01/2025 07:00

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RNS Number : 5050U  ITM Power PLC  24 January 2025

24 January 2025

 

ITM Power PLC

 

10MW Standard Configuration FEED contract

 

ITM is pleased to announce that we have been contracted by a European energy
company to jointly develop a standard design configuration for a 10MW green
hydrogen production plant. Our customer intends to deploy this plant design in
several projects across the UK.

The design will combine two NEPTUNE V plug-and-play 5MW containerised
electrolyser systems. NEPTUNE V utilises ITM's leading and proven TRIDENT
stack technology.

The UK has ambitious targets for producing green hydrogen, with the aim of 6GW
installed capacity by 2030, aided by the Hydrogen Allocation Rounds (HAR).
HAR2, for example, aims to support up to 875MW of capacity.

Dennis Schulz, ITM CEO, said: "This agreement with yet another large-scale
European energy company further cements NEPTUNE V as the clear leader in its
class. The 10MW configuration will allow our customer to deploy projects
rapidly across the UK."

 

For further information, please visit www.itm-power.com
(http://www.itm-power.com) or contact:

 ITM Power PLC
 Justin Scarborough, Head of Investor Relations  +44 (0)114 551 1080

 Berenberg
 Ciaran Walsh, Harry Nicholas                    +44 (0)20 3207 7800

 J.P. Morgan Cazenove
 Richard Perelman, Charles Oakes                 +44 (0) 20 7742 4000

 

About ITM Power PLC:

ITM Power was founded in 2000 and ITM Power PLC was admitted to the AIM market
of the London Stock Exchange in 2004. Headquartered in Sheffield, England, ITM
Power designs and manufactures electrolysers based on proton exchange membrane
(PEM) technology to produce green hydrogen, the only net zero energy gas,
using renewable electricity and water.

 

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