(Sharecast News) - Electrolyser specialist ITM Power is expanding its presence in Germany, it announced on Monday, with the establishment of ITM Power Germany.
The AIM-traded firm said its new facility in Linden, north of Frankfurt, would officially open in October.
It said the initial fit-out of the facilities would include office space for more than 50 employees, as well as a warehouse equipped with specialized storage for the company's 'stacks' in lightweight skids.
Such a setup would allow for the efficient deployment of spare parts, minimising response time and maximising the value customers derived from ITM's products.
The facility would also feature repair and maintenance capabilities, along with dedicated spaces for customer and partner training.
With the deployment of stacks in active customer projects on the rise, ITM said it would gather a wealth of real-world performance data, which would serve as a foundation for driving advancements in its core technology and product improvements.
Additionally, ITM Power was looking to develop new business models focused on remote monitoring and operations, and predictive maintenance.
The establishment of a global data and industrial internet-of-things (IoT) team in Linden would spearhead those initiatives.
ITM Power said its Germany operation would serve as the hub for its global business development function, housing various engineering disciplines, aftersales technicians, field engineers, procurement personnel, and other essential functions.
"This expansion in Germany will not only support responsive aftersales in the heart of the EU as our core market today, but will also be home for various business functions that are enablers for ITM's accelerated growth," said chief executive officer Dennis Schulz.
"As we are scaling our operations, this is a major step in gearing up for an increasing degree of local content creation in the EU."
At 1244 BST, shares in ITM Power were up 0.24% at 67.56p.
Reporting by Josh White for Sharecast.com.
Itm Power (ITM)