REG - ITM Power PLC - NEPTUNE V contract with Westnetz

ITM PowerAnnouncement

Tue 07:00

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RNS Number : 4137H  ITM Power PLC  06 May 2025

6 May 2025

ITM Power PLC

 

NEPTUNE V contract with Westnetz

 

ITM Power is pleased to announce that we have signed a contract to supply a
NEPTUNE V unit to Westnetz GmbH, a Dortmund-based German distribution system
operator for electricity and gas.

Westnetz will integrate the NEPTUNE V unit for their customer, a public
transport operator and subsidiary of a German utility company. The project
forms part of plans to achieve the EU's Clean Vehicles Directive and have an
emission-free hydrogen bus fleet by 2030.

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.

Dennis Schulz, CEO of ITM, said: "We are proud to partner with our customer
Westnetz. Since its launch in 2024, NEPTUNE V has established itself as the
leading containerised green hydrogen plant on the market. Over the last six
months, we have already signed 45MW of NEPTUNE V contracts."

 

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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