REG - ITM Power PLC - ITM Power Expands in Germany

ITM PowerAnnouncement

10/07/2023 07:00

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RNS Number : 4128F  ITM Power PLC  10 July 2023

10 July 2023

 

ITM Power PLC

 

ITM Power Expands in Germany

 

The all-new ITM Power Germany GmbH will officially open its doors in Linden,
north of Frankfurt, in October this year. For ITM, this expansion further
strengthens our position as a leading manufacturer of large-scale
electrolysers for active projects in Germany and wider Europe today, as well
as for future projects which are now in bidding stage.

In its initial fit-out, ITM Power Germany's new facilities will have office
space for more than 50 employees, and a warehouse with special equipment for
storing our state-of-the-art stacks in lightweight skids ready for quick
deployment as aftersales spares. This allows us to minimise response time to
customers, in turn maximising value from the use of our products. It will also
house facilities for repair and maintenance, as well as for training of
customers and partners.

As ITM is increasingly deploying stacks into the field in active customer
projects, a rapidly growing amount of real-world performance data will enable
us to drive advancements in the areas of core technology and product
improvements, development of new business models around remote
monitoring/operations and predictive maintenance, as well as commercial
certainty around tightened system performance guarantees. These activities
will be led by our new global Data and Industrial IoT team which will be based
in Linden.

ITM Power Germany will also be home of ITM's global business development
function, of various engineering disciplines, aftersales technicians, field
engineers, procurement and other functions.

Dennis Schulz, CEO, said: "This expansion in Germany will not only support
responsive aftersales in the heart of the EU as our core market today, but
will also be home for various business functions that are enablers for ITM's
accelerated growth. As we are scaling our operations, this is a major step in
gearing up for an increasing degree of local content creation in the EU."

 

 

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

 James Collins, Head of Corporate Affairs          +44 (0)114 551 1205

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

 

 

 

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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