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Highlights:
- Major Green Hydrogen Project: ITM Power awarded a FEED contract for a 50MW green hydrogen plant in the EU, set to produce 5,000 tonnes of hydrogen annually by 2027.
- Innovative NEPTUNE V Technology: The plant will deploy ITM Power’s NEPTUNE V containerized 5MW electrolysers, launched in May 2024, tailored for mid-sized hydrogen projects.
- Strategic Industry Impact: The project supports Europe’s green energy transition by supplying clean hydrogen to local industries, reducing reliance on fossil fuels.
ITM Power (LSE:ITM), a leading developer of green hydrogen technology, has announced its selection as the technology provider for a major 50MW green hydrogen production site in the European Union. The company has been awarded a Front-End Engineering Design (FEED) contract by an undisclosed but experienced green hydrogen plant developer, marking a significant milestone in its portfolio of innovative clean energy solutions.
The project will utilize ITM Power’s NEPTUNE V units, a cutting-edge, containerized 5MW electrolyser plant designed for mid-sized green hydrogen projects. The FEED phase will focus on developing the site’s design and infrastructure, laying the groundwork for a Final Investment Decision (FID), which the customer plans to make in 2025.
Upon completion, the plant is expected to produce approximately 5,000 tonnes of green hydrogen annually, starting in the second half of 2027. This output will primarily serve local industries, helping to accelerate the EU's transition to clean energy and decarbonize sectors reliant on traditional fossil fuels.
Commenting on the development, Dennis Schulz, CEO of ITM Power, expressed his enthusiasm: “We are excited to have been selected as the technology partner for this project. NEPTUNE V was only launched in May of this year, and this FEED confirms our view that mid-sized green hydrogen projects are gaining strong momentum in the near term.”
The NEPTUNE V electrolyser represents a breakthrough for scalable hydrogen solutions, offering full-scope, containerized systems that are cost-effective and versatile. This makes them ideal for projects aiming to balance ambitious energy production goals with practical deployment challenges.
The project highlights the growing demand for green hydrogen as a critical component of global energy transition efforts. By partnering with experienced developers and leveraging its innovative technologies, ITM Power is solidifying its position as a leader in the green hydrogen sector.
