REG - ITM Power PLC - 20MW supply agreement with MorGen Energy

ITM PowerAnnouncement

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RNS Number : 0447V  ITM Power PLC  13 August 2025

13 August 2025

 

ITM Power plc

 

20MW supply agreement with MorGen Energy

 

ITM Power is delighted to announce the signing of a supply agreement and
binding heads of terms for a long-term services agreement with MorGen Energy
for the 20MW West Wales Hydrogen project in Milford Haven, UK. This milestone
marks a significant step in this project under the UK Government's Hydrogen
Allocation Round 1 (HAR1). With permits secured and commercial terms with the
project stakeholders nearing completion, the project is well on track towards
Final Investment Decision (FID) and is expected to break ground before
calendar year-end.

The West Wales Hydrogen Project - now confirmed as one of the two UK projects
where ITM was announced as the selected electrolyser supplier on 17 June -
will deploy POSEIDON, our 20 MW modular electrolyser platform, reinforcing our
leadership in scalable, high-performance green hydrogen solutions.

The project was awarded funding under the Department for Energy Security &
Net Zero (DESNZ) HAR1 programme. Located on the former Milford Haven Refinery
site, the plant will supply industrial clusters in Milford Haven, Port Talbot,
and other locations across Wales, as well as support green transport.

Dennis Schulz, CEO, said, "This contract marks a major milestone for ITM Power
and the UK hydrogen sector. Selection for the West Wales Hydrogen Project
demonstrates confidence in our technology, delivery capability, and the
critical role green hydrogen plays in the energy transition. We are proud to
be partnering with MorGen Energy to bring POSEIDON to life in a project of
national significance."

Werner Lieberherr, CEO of MorGen Energy, said, "The West Wales Hydrogen
Project is a cornerstone of our vision for a cleaner, more resilient energy
future for Wales and the UK. Working with ITM Power's world-class electrolyser
technology allows us to deliver not only a pioneering energy project, but also
an economic catalyst - creating high-value jobs, strengthening supply chains,
and positioning Wales at the forefront of the green hydrogen economy. Guided
by a purpose-led and performance-driven approach, we are committed to ensuring
this partnership delivers both environmental impact and lasting prosperity for
the communities we serve."

 

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 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.

About MorGen Energy:

MorGen Energy is a clean hydrogen development platform, advancing large-scale,
cost-competitive hydrogen production. As a subsidiary of Trafigura, one of the
world's leading commodity trading firms, MorGen is building the infrastructure
and partnerships needed to make clean hydrogen commercially viable and
industrially relevant - today. Purpose-led and performance-driven, MorGen
combines technical innovation, entrepreneurial drive, and global scale to
deliver clean molecules for a net-zero future. To learn more, visit
www.morgenenergy.com

 

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