ITM Power PLC Capacity Reservation
July 16 2024 - 2:00AM
RNS Regulatory News
RNS Number : 4696W
ITM Power PLC
16 July 2024
16 July 2024
ITM Power PLC
Capacity reservation
ITM is pleased to announce that we have signed a
capacity reservation with a large utility company, under which our
customer has secured future production capacity for NEPTUNE II
units.
NEPTUNE II is our 2 MW containerised plug &
play electrolyser system, which incorporates our state-of-the-art
TRIDENT stack platform.
The reservation covers four NEPTUNE II units to
be manufactured in the 2025/2026 calendar years for a project in
the UK.
The project, for which HAR1 (Hydrogen Allocation
Round 1) funding has already been secured, expects the Final
Investment Decision (FID) by our customer in the 2025 calendar
year.
Dennis Schulz, CEO ITM said: "This capacity
reservation is the result of an intense qualification process by a
large industrial player who is keen to buy a safe, reliable and
cost-competitive solution. Data gathered from plants in operation
were a key differentiator."
For further information, please visit
www.itm-power.com or
contact:
ITM Power
PLC
Justin Scarborough, Head of Investor Relations
+44 (0)114 551 1080
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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