ITM Power PLC - Sheffield, England-based designer and manufacturer of electrolyser systems for green hydrogen production - Says it has been contracted by an unnamed European energy company to jointly develop a standard design configuration for a 10 megawatt green hydrogen production plant. The client then intends to deploy the design across several projects in the UK. The design will combine two Neptune V plug-and-play 5 megawatt containerised electrolyser systems, using ITM’s Trident stack technology. It notes the UK’s ‘ambitious’ targets for 6 gigawatts of installed green hydrogen capacity by 2030.

Chief Executive Officer Dennis Schulz says: ‘This agreement with yet another large-scale European energy company further cements Neptune V as the clear leader in its class.’

Current stock price: 36.08 pence, up 6.5% in London on Friday morning

12-month change: down 26%

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