ITM Itm Power Plc

24 January 2025

ITM Power PLC

10MW Standard Configuration FEED contract

ITM is pleased to announce that we have been contracted by a European energy company to jointly develop a standard design configuration for a 10MW green hydrogen production plant. Our customer intends to deploy this plant design in several projects across the UK.

The design will combine two NEPTUNE V plug-and-play 5MW containerised electrolyser systems. NEPTUNE V utilises ITM's leading and proven TRIDENT stack technology.

The UK has ambitious targets for producing green hydrogen, with the aim of 6GW installed capacity by 2030, aided by the Hydrogen Allocation Rounds (HAR). HAR2, for example, aims to support up to 875MW of capacity.

Dennis Schulz, ITM CEO, said: "This agreement with yet another large-scale European energy company further cements NEPTUNE V as the clear leader in its class. The 10MW configuration will allow our customer to deploy projects rapidly across the UK."

For further information, please visit www.itm-power.com or contact:

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.