REG - ITM Power PLC - MorGen Energy 20 MW Project FID and LTSA Signed

ITM PowerAnnouncement

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RNS Number : 0964W  ITM Power PLC  11 March 2026

11 March 2026

 

ITM Power plc

 

MorGen Energy 20 MW Project FID and LTSA Signed

 

ITM Power is pleased to announce two updates relating to MorGen Energy's
project portfolio.

20 MW project FID:

We can now confirm that the 20 MW Notice to Proceed (NtP) announced in
February relates to MorGen Energy's West Wales Hydrogen project in Milford
Haven, which has reached Final Investment Decision (FID). The project is among
the first supported by the UK Government's HAR1 funding to achieve FID. ITM
will deploy POSEIDON, our 20 MW core electrolysis process module.

Located at the former Milford Haven Refinery, the plant will serve industrial
clusters across Milford Haven, Port Talbot, and wider Wales. Commissioning is
targeted for 2028. The plant will produce approximately 2,000 tonnes of
hydrogen per year.

LTSA signed:

We have signed a ten-year Long-Term Service Agreement (LTSA) with MorGen
Energy for the West Wales Hydrogen project, to provide maintenance and support
to the plant in operation.

 

Werner Lieberherr, CEO of MorGen Energy, said: "Reaching FID on West Wales
Hydrogen is a defining milestone for MorGen and the UK hydrogen sector. This
project demonstrates that green hydrogen projects in the UK can be delivered
as bankable infrastructure investments when strong industrial demand is
combined with a clear and stable policy framework. We are grateful for the
strong support of the UK Government, especially the Department for Energy
Security and Net Zero, and our partners, and we look forward to beginning
construction and delivering hydrogen to our customers from 2028."

Dennis Schulz, CEO, stated, "The MorGen Energy West Wales project is an
important milestone for green hydrogen in the UK, and we are proud that our
technology will be at its core. Our partnership with MorGen Energy highlights
our dedication to providing reliable, high-performance electrolysers that aid
the UK's industrial decarbonisation efforts."

 

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.

 

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