ITM Power wins European joint development contract
By Iain Gilbert
Date: Friday 24 Jan 2025
(Sharecast News) - Energy storage and clean fuel company ITM Power said on Friday that it has been contracted by a European energy company to jointly develop a standard design configuration for a 10MW green hydrogen production plant.
ITM said the design will combine two NEPTUNE V plug-and-play 5MW containerised electrolyser systems, which utilises the company's TRIDENT stack technology.
Chief executive Dennis Schulz 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."
As of 1055 GMT, ITM shares were up 7.08% at 36.28p.
Reporting by Iain Gilbert at Sharecast.com
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