ITM Power inks NEPTUNE V supply contract with Westnetz
By Iain Gilbert
Date: Tuesday 06 May 2025
(Sharecast News) - Electrolysers manufacturer ITM Power said on Tuesday that it has signed a contract to supply one of its full-scope 5MW containerised green hydrogen plant units to Westnetz, a Dortmund-based electricity and gas distribution system operator.
ITM Power said Westnetz will integrate the NEPTUNE V unit for its customer, a public transport operator and subsidiary of a German utility company.
The AIM-listed group added that the project forms part of plans to achieve the EU's Clean Vehicles Directive and have an emission-free hydrogen bus fleet by 2030.
Chief executive Dennis Schulz 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."
As of 1005 BST, ITM Power shares were up 2.44% at 31.50p.
Reporting by Iain Gilbert at Sharecast.com
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