ITM Power PLC 500MW Capacity Reservation

RNS Number : 3917V

ITM Power PLC

08 July 2024

 

8 July 2024

 

ITM Power PLC

 

500MW Capacity Reservation

 

ITM is pleased to announce that it has signed a 500MW capacity reservation with a global industrial customer. This reservation secures future production capacity for the manufacturing of our state-of-the-art electrolyser stacks.

 

The agreement covers the period until the end of the 2028 calendar year and foresees call-offs against future projects in Europe and the US.

 

The two companies have agreed not to disclose further contract details at this stage.

 

Dennis Schulz, CEO ITM, said: "Today's announcement is a great example of how close collaboration will unlock competitive and successful green hydrogen projects. Following the already announced capacity reservation for 100MW from Shell, this agreement with yet another large-scale industrial customer is a validation of our technology and credibility to deliver."

 

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

 

ITM Power PLC
Justin Scarborough, Head of Investor Relations	[phone]
Investec Bank plc (Nominated Adviser and Broker)	[phone]
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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