(Correcting the units for the Neptune V electrolyser.)

ITM Power PLC on Friday said it has signed its first contract for its Neptune V electrolyser in Germany.

The Sheffield, England-based company is a designer and manufacturer of electrolyser systems for green hydrogen production.

ITM revealed that its first contract for Neptune V is with Guttroff GmbH, a private German provider of solutions for technical and medical gases, welding supplies, and engineering.

Neptune V is a full-scope 5 megawatt containerised electrolyser plant that provides highly efficient hydrogen production capacity.

The AIM-listed firm did not reveal the value of the contract, but said that as part of the Bavarian electrolyser subsidy program, Guttroff was awarded €5 million in funding earlier this year to initiate domestic production of green hydrogen in the area.

ITM said its Neptune will provide green hydrogen to a planned refuelling station.

Shares in ITM were up 0.5% at 39.70 pence on Friday afternoon in London.

ITM Chief Executive Dennis Schulz said: ‘We are delighted to have been chosen by Guttroff, a renowned gases company, to provide our best-in-class technology for their first green hydrogen project.

‘Since its launch just a few months ago, Neptune V has been very well received by customers, and we are excited about the level of interest.’

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