ITM Power PLC 100MW Capacity Reservation (2541W)

TIDMITM

RNS Number : 2541W

ITM Power PLC

11 December 2023

ITM Power PLC

100MW capacity reservation

ITM is pleased to announce that it has signed a capacity reservation with Shell Deutschland GmbH, under which Shell has secured future production capacity for the manufacturing of our state-of-the-art electrolyser stacks.

The reservation covers 100MW of TRIDENT electrolyser stacks to be manufactured in calendar years 2025 to 2026 in relation to the Refhyne 2 project at the Shell Energy and Chemical Plant in Rhineland, Germany, which remains subject to a final investment decision.

Dennis Schulz, CEO ITM, said: "Today's announcement is yet another validation of our technology and credibility to deliver at scale, providing reassuring recognition by a world-leading industrial customer. The capacity reservation also reflects the upcoming challenge for customers to secure credible large-scale delivery capability within the PEM electrolyser sphere, against a quickly growing demand."

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.

-ends-

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCEASAEFFPDFFA

(END) Dow Jones Newswires

December 11, 2023 02:00 ET (07:00 GMT)

Itm Power (AQSE:ITM.GB)
Historical Stock Chart
From Oct 2024 to Nov 2024