ITM Power Secures 20MW Electrolyser Contract for Major Hydrogen Project in Wales
Why we think this is good
This contract win for ITM Power's POSEIDON electrolyser technology is a significant milestone for the company and the UK hydrogen sector. The project is part of the government's Hydrogen Allocation Round 1 program, indicating its strategic importance. While the financial details are not fully disclosed, the scale of the project and the involvement of a major partner in MorGen Energy suggest a positive outlook for ITM Power's future earnings and growth prospects.
Key Points
- ITM Power signs 20MW supply agreement with MorGen Energy for the West Wales Hydrogen Project
- The project is part of the UK Government's Hydrogen Allocation Round 1 (HAR1) program
- ITM Power's POSEIDON modular electrolyser platform will be deployed for the project
- The project is expected to break ground before the end of the calendar year
- The contract is a significant milestone for ITM Power and the UK hydrogen sector
Summary
ITM Power has announced a 20MW supply agreement and long-term services agreement with MorGen Energy for the West Wales Hydrogen Project in Milford Haven, UK. The project is part of the UK Government's Hydrogen Allocation Round 1 (HAR1) program and will deploy ITM Power's POSEIDON modular electrolyser platform. The project is well on track towards Final Investment Decision (FID) and expected to break ground before the end of the calendar year. The contract marks a significant milestone for ITM Power and the UK hydrogen sector, demonstrating confidence in the company's technology and delivery capability.