IN BRIEF: ITM Power posts launch of Hydropulse for green hydrogen
ITM Power PLC - Sheffield-based designer and manufacturer of electrolyser systems for green hydrogen production - Announces launch of Hydropulse GmbH, a Berlin-based subsidiary. It will build, own and operate decentralised green hydrogen production plants via ITM’s modular Neptune technology, with a focus on serving industrial customers under long-term offtake agreements. ITM Power Chief Executive Officer & Hydropulse Managing Director Dennis Schulz says: ‘Approximately 12 months in the making, the launch of Hydropulse opens a new chapter for ITM and the green hydrogen industry. By addressing the bankability hurdle of green hydrogen projects through capital expenditure, operations, and technology risk mitigation for the end user, Hydropulse will solve the most pressing real-world challenges that are holding back exponential industry growth.’
On Monday, the company announced it signed a front-end engineering design contract for Uniper’s 120 megawatt Humber H2ub project, which had been shortlisted as part of the UK’s Hydrogen Allocation Round 2, HAR2. ITM will deploy six 20 megawatt Poseidon core electrolysis process modules into the project, which remains subject to final investment decision and is targeted to be operational in 2029.
Current stock price: 76.90 pence each, down 0.8% late Wednesday morning in London
12-month change: up 62%
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