REG - ITM Power PLC - Contract for three NEPTUNE V

ITM PowerAnnouncement

23/12/2024 07:00

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RNS Number : 0228R  ITM Power PLC  23 December 2024

23 December 2024

ITM Power PLC

 

Contract for three NEPTUNE V

 

ITM Power is pleased to announce that we have signed a contract to supply
three NEPTUNE V units, totalling 15 MW, to a family-owned private German
company.

Launched in May this year, NEPTUNE V is ideally suited for mid-sized projects.
It utilises ITM's leading and proven TRIDENT stack technology. NEPTUNE V is
our full-scope 5MW containerised electrolyser plant. It provides reliable,
flexible, and highly efficient hydrogen production capacity and the industry's
smallest footprint per MW.

The NEPTUNE V units will be deployed into three individual projects, with the
first delivery expected in the first half of calendar 2026. The electrolysers
will provide green hydrogen to refuelling stations in Germany.

Dennis Schulz, CEO, said: "We are establishing ourselves as the go-to partner
for down-to-earth industrial companies and family businesses, for whom it
matters that their plants work reliably, safely and efficiently. We are
pleased to have signed yet another NEPTUNE V contract in just a few weeks.
Customer interest continues to exceed our expectations".

 

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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