ITM Power PLC - South Yorkshire-based energy storage and clean fuel firm - Provides more details on sale of 24 megawatt electrolyser to Linde PLC for undisclosed amount. It will be installed at site operated by Linde's green energy contract partner Yara Norge AS, at Heroya, near Porsgrunn about 140 kilometres from Oslo. The electrolyser will produce green hydrogen for ammonia production, which currently uses grey hydrogen from steam methane reforming. It will initially supply 10,368 kilograms a day, around 5% of the Porsgrunn plant's consumption, and will serve as a feasibility study for future upscaling of green hydrogen.
The electrolyser is due to be ready for shipment in the fourth quarter of 2022, and revenue will be realised for ITM in financial 2023.
Current stock price: 239.59 pence, down 0.9% on Friday
12-month change: down 59%
By Elizabeth Winter; elizabethwinter@alliancenews.com
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Itm Power (ITM)