IN BRIEF: ITM Power confirms authorised project relates to MoreGen

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ITM Power PLC- Sheffield, England-based - Confirms notice to proceed for 20-megawatt project received back in February, relates to Zurich, Switzerland-based green energy supplier, MoreGen Energy AG’s West Wales Hydrogen project in Milford Haven, Wales. It notes that has reached final investment decision. Under the project, ITM says it will deploy Poseidon, its 29 megawatt core electrolysis process module. Explains the plant will serve industrial customers across Milford Haven, port Talbot and wider Wales, with commissioning targeted for 2028. Adds it will produce around 2,000 tonnes of hydrogen per year. ITM says it has inked a 10-year long-term service agreement with MorGen Energy for the West Wales Hydrogen project.

‘The MorGen Energy West Wales project is an important milestone for green hydrogen in the UK, and we are proud that our technology will be at its core. Our partnership with MorGen Energy highlights our dedication to providing reliable, high-performance electrolysers that aid the UK’s industrial decarbonisation efforts,’ says ITM Chief Executive Dennis Schulz.

Current stock price: 64.60 pence, up 1.1% on Wednesday afternoon in London

12-month change: more than doubled from 25.62p

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