ITM Power secures two engineering contracts in Australia and Canada

(Alliance News) - ITM Power PLC on Friday said it has secured two new engineering contracts in Australia and Canada that will use its latest Neptune V containerised green hydrogen production system.

The Sheffield, England-based green hydrogen electrolyser designer and manufacturer said the first award is for a basic design engineering package from an unnamed industrial customer in Australia.

The second is a front-end engineering design contract for a Canadian project aiming to produce hydrogen for transport using hydroelectric power.

ITM said the two projects have a combined planned capacity of 70 megawatts and will deploy multiple units of its Neptune V platform, which the company describes as its "market-leading" containerised electrolyser solution.

The firm did not disclose the financial value of either contract.

Chief Executive Officer Dennis Schulz said: "We are excited to be working with our customers on these projects, and to advance the deployment of our Neptune V product into the Australian and Canadian markets."

ITM Power shares were up 6.4% at 66.39 pence in London on Friday afternoon.

By Eva Castanedo, Alliance News reporter

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