REG - ITM Power PLC - Launch of Hybrid Stack

ITM PowerAnnouncement

08/11/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20231108:nRSH6912Sa&default-theme=true

RNS Number : 6912S  ITM Power PLC  08 November 2023

 

8 November 2023

 

ITM Power PLC

 

Launch of Hybrid Stack

 

ITM Power is pleased to announce the launch of its Hybrid Stack, which
provides existing ITM customers, who operate earlier MEP generation products,
the opportunity to benefit from a circa  10% efficiency improvement.

As a leader in PEM technology, ITM continues to work towards enhancements that
provide tangible benefits to customers. The Hybrid Stack makes available
advancements incorporated into our latest Trident stack platform, to earlier
MEP generation electrolysers. In this way, operators of ITM electrolyser
systems maintain access to our technology improvements as they become
available.

The Hybrid Stack has undergone robust validation and testing at ITM's
facilities and in the field, where operational data has shown that an
efficiency improvement of circa 10% is achieved. This reduces electrolyser
operating costs proportionately.

The release of our Hybrid Stack marks the final step on the journey to narrow
our product portfolio, which was a key pillar of our 12-month plan.

Dennis Schulz, CEO ITM, said: "The Hybrid Stack makes our latest technology
available to existing customers who can now take full advantage of efficiency
improvements."

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.

 

-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  MSCQDLFBXFLEFBF