ITM Power strikes new supply deal with Spanish cement producer
By Iain Gilbert
Date: Friday 09 May 2025
(Sharecast News) - Electrolysers manufacturer ITM Power has signed a contract to supply one of its NEPTUNE II units to a leading Spanish cement producer.
ITM Power said on Friday that the NEPTUNE II unit, its fully autonomous 2MW electrolyser system, would be deployed in the cement production process, where green hydrogen will be mixed with natural gas in the cement kiln, reducing CO2 emissions.
The AIM-listed group also noted that with shorter lead times for its NEPTUNE II containers, it expects to recognise the associated revenues for this contract in FY26.
Chief executive Dennis Schulz said: "We are delighted that a well-established cement producer has chosen ITM for this project. This will be ITM's first system deployment in the cement industry, which, according to the International Energy Agency, accounts for around 8% of global CO2 emissions."
As of 0930 BST, ITM Power shares were up 3.95% at 36.49p.
Reporting by Iain Gilbert at Sharecast.com
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