REG - ITM Power PLC - Contract with FDE for four NEPTUNE V

ITM PowerAnnouncement

13/02/2025 07:00

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RNS Number : 9290W  ITM Power PLC  13 February 2025

13 February 2025

ITM Power PLC

 

Contract with FDE for four NEPTUNE V

 

ITM Power is pleased to announce that we have signed a contract to supply four
NEPTUNE V units, totalling 20MW, to La Française de l'Energie SA (FDE), an
independent multi-energy producer.

NEPTUNE V is our full-scope 5MW containerised green hydrogen plant, which
utilises ITM's leading and proven TRIDENT stack technology. 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 the first phase of Norway's Hydrogen
Hub Agder project, 100% owned by Greenstat, a subsidiary of FDE, developing
green energy production projects in Norway. The 20MW green hydrogen hub
facility will be dedicated to supplying the maritime industry, and production
is expected to start in late 2026. The second phase is expected to be an
additional 40MW, which is planned to be launched in 2027.

Dennis Schulz, CEO of ITM, said: "The Nordic countries present an exciting
opportunity for green hydrogen, and it is a privilege that FDE has selected us
for the Agder Hydrogen Hub in Norway."

Antoine Forcinal, CEO of FDE, said: "We are delighted to work with ITM as a
partner for the supply of an integrated electrolyser solution for our Agder
Hydrogen Hub project, one of the largest green hydrogen projects in Norway."

 

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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