Itm Power Regulatory News (ITM)

12 January 2021

ITM Power plc

("ITM Power" or "the Company")

After-sales Support Partnership with Optimal for Australia

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce a Partnership Agreement ("the Agreement") with Optimal Group ("Optimal"), a leading sustainable energy solutions provider in Australasia, to support sales activity in Australia.

Under the Agreement Optimal will provide long-term commissioning, operational and maintenance support, enhancing ITM Power's capabilities across the region to train and deploy skilled engineering resource and spare parts for its customers.

To ensure that ITM Power's customers continue to enjoy the benefits of low cost and low carbon energy well into the future, Optimal will provide nationwide service and support through its network of factory certified ASP's (Authorised Service Personnel). The Agreement enhances ITM Power's capability for project delivery and service of its systems and will support the Company as it pursues much larger multi megawatt systems across Australia.

In addition, ITM Power has received a purchase order from Optimal for the provision of its 0.7MW HGas electrolyser system for use in a hydrogen microgrid project in Tasmania supported by the Federal Government's Blue Economy CRC programme. This first deployment with Optimal will be a platform for training (through ITM Power's Hydrogen Academy) and the development of the relationship between ITM Power and Optimal.

Dr Neil Thompson, Managing Director of ITM Power Pty Ltd, commented: "Our agreement with Optimal further enhances our project delivery capability, after-sales service and spare parts support across Australia which will be key to the deployment of industrial scale systems."

Craig Dugan , CEO of Optimal Group , said

"Optimal is delighted to become ITM Power's partner in Australia. Our focus is on sustainable energy and we know that green hydrogen will have a major role to play in the transition to a lower carbon future. Australia's ambitions to reduce its carbon emissions means that we, and ITM Power, are in the right place at the right time."

For further information please visit www.itm-power.com or contact:

About ITM Power plc:

ITM Power plc manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of renewable hydrogen for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004. In October 2019, the Company announced the completion of a £58.8 million fundraising, including an investment by Linde of £38 million, together with the formation of a joint venture with Linde to focus on delivering renewable hydrogen to large-scale industrial projects worldwide. In November 2020, ITM Power completed a £172m fundraising, including a £30m investment by Snam, one of the world's leading energy infrastructure operators. ITM Power signed a forecourt siting agreement with Shell for hydrogen refuelling stations in September 2015 (which was extended in May 2019 to include buses, trucks, trains and ships), and in January 2018 a deal to deploy a 10MW electrolyser at Shell's Rhineland refinery. ITM Power announced the lease of the world's largest electrolyser factory in Sheffield with a capacity of 1GW (1,000MW) per annum in July 2019. Customers and partners include Sumitomo, Ørsted, Phillips 66, Siemens Gamesa, National Grid, Cadent, Northern Gas Networks, Gasunie, RWE, Engie, BOC Linde, National Express, Toyota, Honda, Hyundai, Optimal and Anglo American among others.

About Optimal Group

For years we've known the traditional ways of fossil fuels, delivered through an old fashioned grid are simply unsustainable, but it's not until recently that we have had access to real alternatives. Optimal is working at the forefront of this change, assisting progressive organisations to make the transition to a more sustainable power supply. We deliver bespoke energy solutions that solve our customers three biggest issues - rising energy prices, environmental concerns and energy security. At the heart of our solution is efficiency.

We are incredibly optimistic about the future of sustainable power. And with more than 400 Optimal power systems already operating throughout Australia, we are excited to be a big part of it.

 www.optimalgroup.com.au

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