ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed a sales contract for the supply of a 1.25 MW, 50-bar electrolyser unit. The unit will be deployed at an ethylene production plant. The purchaser of the equipment is a major EPC contractor.
About ITM Power plc:
ITM Power manufactures integrated hydrogen energy solutions which are rapid response and high pressure that meet the requirements for grid balancing and energy storage services, and for the production of clean fuel for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004. The Company received £4.9m as a strategic investment from JCB in March 2015. The Company signed a forecourt siting agreement with Shell in September 2015. The Group currently has £17.77m of projects under contract and a further £2.43m of contracts in the final stages of negotiation, totaling £20.2m, subject to exchange rate variation. ITM Power is a founder member of the Social Stock Exchange. www.itm-power.com