Mystery customer reserves 500 MW of ITM Power’s electrolyzer stacks

July 8, 2024, by Aida Čučuk

UK’s electrolyzer manufacturer ITM Power has signed a 500 MW capacity reservation with an undisclosed global industrial customer, securing future production capacity for the manufacturing of its electrolyzer stacks.

According to ITM, the agreement covers the period until the end of 2028 and foresees call-offs against future projects in Europe and the U.S.

ITM said the two companies have agreed not to disclose further contract details at this stage.

Dennis Schulz, CEO of ITM, commented: “Today’s announcement is a great example of how close collaboration will unlock competitive and successful green hydrogen projects. Following the already announced capacity reservation for 100MW from Shell, this agreement with yet another large-scale industrial customer is a validation of our technology and credibility to deliver.”

To note, ITM signed a capacity reservation with Shell Deutschland in December 2023. The reservation covers 100 MW of TRIDENT electrolyzer stacks to be manufactured in calendar years 2025 to 2026 in relation to the Refhyne 2 project at the Shell Energy and Chemical Plant in Rhineland, Germany.

As for activities in 2024, ITM was appointed by UK’s Hygen Energy as a preferred supplier of PEM electrolyzers for hydrogen projects within the UK and across wider Europe.

Furthermore, in collaboration with Japan’s Sumitomo Corporation, the company completed the delivery and installation of a NEPTUNE electrolyzer at Tokyo Gas’ Yokohama Techno Station.