ITM Power PLC Launch of Hybrid Stack (6912S)

TIDMITM

RNS Number : 6912S

ITM Power PLC

08 November 2023

8 November 2023

ITM Power PLC

Launch of Hybrid Stack

ITM Power is pleased to announce the launch of its Hybrid Stack, which provides existing ITM customers, who operate earlier MEP generation products, the opportunity to benefit from a circa 10% efficiency improvement.

As a leader in PEM technology, ITM continues to work towards enhancements that provide tangible benefits to customers. The Hybrid Stack makes available advancements incorporated into our latest Trident stack platform, to earlier MEP generation electrolysers. In this way, operators of ITM electrolyser systems maintain access to our technology improvements as they become available.

The Hybrid Stack has undergone robust validation and testing at ITM's facilities and in the field, where operational data has shown that an efficiency improvement of circa 10% is achieved. This reduces electrolyser operating costs proportionately.

The release of our Hybrid Stack marks the final step on the journey to narrow our product portfolio, which was a key pillar of our 12-month plan.

Dennis Schulz, CEO ITM, said: "The Hybrid Stack makes our latest technology available to existing customers who can now take full advantage of efficiency improvements."

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

 
 ITM Power PLC 
 Justin Scarborough, Head of Investor 
  Relations 
  James Collins, Head of Corporate         +44 (0)114 551 1080 
  Affairs                                   +44 (0)114 551 1205 
 
 Investec Bank plc (Nominated 
  Adviser and Broker)                      +44 (0)20 7597 5970 
 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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