REG - ITM Power PLC - Strategic partnership with ABO Energy

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RNS Number : 6275W  ITM Power PLC  26 August 2025

26 August 2025

 

ITM Power plc

 

ABO Energy and Hydropulse enter strategic partnership

 

Hydropulse, the new build-own-operate subsidiary of ITM Power plc, and ABO
Energy, a leading international renewable energy developer, have entered into
a strategic partnership.

The partnership combines ABO Energy's contacts to industrial offtakers, strong
international development capabilities and selected pre-developed green
hydrogen projects, with Hydropulse's expertise in building and operating
modular, containerised green hydrogen production plants based on ITM's
market-leading electrolyser technology.

Together, both companies will generate value by combining development
expertise with capital investment in hydrogen assets. In doing so, they can
offer Hydrogen-as-a-Service and Infrastructure-as-a-Service across the entire
value chain from green electrons to green molecules.

ABO Energy and Hydropulse will develop decentralised hydrogen production units
on or near end user sites. This includes, among other things, permitting,
electricity supply, engineering, construction and operation. Hydropulse will
build, own and operate the hydrogen production facilities, while ABO Energy
will contribute on the power and development side. This will enable industrial
customers to access long-term reliable hydrogen supply without requiring
upfront capital investment.

The collaboration will be anchored in Europe with a particular focus on Spain
and Finland, where low power prices make green hydrogen production attractive.
Promising initial projects with an imminent customer need for green hydrogen
have already been identified.

Dennis Schulz, CEO of ITM Power, said, "This is about market traction. With
ABO Energy's access to sites and end users, we can realise projects faster and
turn our technology into recurring revenues. Our modular approach, combined
with ABO Energy's project pipeline, creates a pragmatic route to help industry
cut emissions. The partnership will also help us unlock new markets."

Karsten Schlageter, Managing Director of ABO Energy, added: "It's a
breakthrough moment for many hydrogen projects. We can now offer our customers
a one-stop solution from development to long-term operation without capex
intensity. Many of our projects are already developed to a stage where we can
move quickly when the offtake is committed. With Hydropulse on board, we can
now offer our customers long-term reliable plant operation with a strong
technology partner. This collaboration allows us to fast-track projects and
deliver real value for industry."

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

 ABO Energy
 Katja Burger                                    +49 (0)611 26765981

 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.

About ABO Energy:

ABO Energy develops and builds wind and solar farms as well as battery storage
and hydrogen projects. Founded in 1996, the Germany-based company has built up
a multi-gigawatt hydrogen pipeline besides its portfolio of more than 30
gigawatts in development across wind, solar and battery, and has realised 6.6
gigawatts of renewable energy capacity to date. 1,400 employees on four
continents work with enthusiasm on the development, planning, financing,
construction, operational management, and maintenance of plants for a
sustainable energy supply. The shares are traded at Xetra and other German
stock exchanges.

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