REG - ITM Power PLC - 12MW Electrolyser Sale

ITM PowerAnnouncement

15/11/2021 07:05

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20211115:nRSO3083Sa&default-theme=true

RNS Number : 3083S  ITM Power PLC  15 November 2021

15 November 2021

 

ITM Power plc

("ITM", "ITM Power", the "Group" or the "Company")

 

12MW Electrolyser Sale

 

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to
announce that it has signed a contract for delivery of 12MW of electrolysis
equipment to be deployed in 2022, and recognised in the 2022/23 financial
year. The customer and location remain confidential due to commercial
sensitivities. This project was already included within the contracts backlog
(in negotiation) and now moves into work in progress.

 

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

 

 ITM Power plc
 James Collins, Investor Relations                 +44 (0)114 551 1205

 Justin Scarborough, Investor Relations            +44 (0)114 551 1080

 Investec Bank plc (Nominated Adviser and Broker)  +44 (0)20 7597 5970
 Jeremy Ellis / Chris Sim / Ben Griffiths

 Tavistock (Financial PR and IR)                   +44 (0)20 7920 3150
 Simon Hudson / David Cracknell / Tim Pearson

 

About ITM Power plc:

ITM manufactures integrated hydrogen energy solutions for grid balancing,
energy storage and the production of renewable hydrogen for transport,
renewable heat and chemicals. ITM Power plc was admitted to the AIM market of
the London Stock Exchange in 2004. In October 2019, the Company announced the
completion of a £58.8m fundraising, including an investment by Linde of
£38m, together with the formation of a joint venture to deliver renewable
hydrogen to large-scale industrial projects worldwide. In November 2020, ITM
Power completed a £172m fundraising, including a £30m investment by Snam,
one of the world's leading energy infrastructure operators. in January 2021,
the Company received an order for the world's then largest PEM electrolyser of
24MW from Linde. In October 2021, the Company, with Linde, announced the
deployment of a 100MW electrolyser at Shell's Rhineland refinery, following
the start-up of an initial 10MW facility at the site.

ITM Power operates from the world's largest electrolyser factory in Sheffield
with a capacity of 1GW (1,000MW) per annum, with the announced intention to
build a second UK Gigafactory in Sheffield with a capacity of 1.5GW expected
to be fully operational by the end of 2023. The Group's first international
facility, expected to have a capacity of 2.5GW per annum, is intended to be
operational by the end of 2024, bringing total Group capacity to 5GW per
annum. Customers and partners include Sumitomo, Ørsted, Phillips 66, Scottish
Power, Siemens Gamesa, Cadent, Northern Gas Networks, Gasunie, RWE, Engie,
GNVert, National Express, Toyota, Hyundai and Anglo American among others.

 

-ends-

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  CNTKZLFFFFLEFBK