26 April 2024
ITM Power
PLC
Partnership with Hygen for industry
growth
ITM is pleased to announce a partnership with
Hygen, being appointed as their preferred supplier for Proton
Exchange Membrane (PEM) electrolysers for hydrogen projects within
the UK and across Europe. Hygen's goal is to implement up to 200 MW
of electrolyser projects over the coming years across the UK and
wider Europe, utilising ITM technology and equipment.
The collaboration is intended to be formed of
two phases:
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Phase 1 is expected to comprise 50 MW of NEPTUNE Plug and
Play electrolysers across several projects, many of which will be
based on UK government HAR2 or similar funding
programmes
·
Phase 2 is expected to comprise 150 MW of larger-scale
modular electrolysers
Each project will be subject to a Final
Investment Decision (FID).
Both companies recognise the economic benefits
arising from a strong UK supply chain in the fast-growing hydrogen
industry and will work together to maximise the viability and
bankability of Hygen projects, especially of larger-scale
electrolyser installations.
ITM has continued to grow our NEPTUNE annual
build capability, both in terms of units and MW capacity. We are
confident that we will be able to fulfil Hygen's demand
requirements, whilst at the same time, working alongside and
delivering to a wide range of customers over the coming
years.
Dennis Schulz, CEO of ITM, said: "Our
collaboration with Hygen is an important milestone for both
companies and for the UK. We are looking forward to working in
partnership with Hygen and its group companies RYZE and Wrightbus
over the coming years, together playing a leading role in advancing
the green hydrogen economy."
Jamie Burns, Director of Hygen, said: "We are
determined to lead from the front when it comes to developing and
delivering low-carbon hydrogen projects. To build this critical
infrastructure, we need ambitious partners such as ITM which has
impressed us with its focus on the manufacture of quality UK-built
products. Hygen's intent is to deliver low-carbon hydrogen projects
in the near term, giving the UK's net-zero industry a valuable
boost."
For further information please
visit www.itm-power.com or contact:
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ITM
Power PLC
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Justin Scarborough, Head of Investor
Relations
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+44 (0)114 551 1080
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Investec Bank plc (Nominated Adviser and
Broker)
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+44 (0)20 7597 5970
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James Rudd / Chris Sim / Ben
Griffiths
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About ITM
Power PLC:
ITM Power was founded in 2000 and ITM Power PLC
was admitted to the AIM market of the London
Stock Exchange in 2004. Headquartered in
Sheffield, England, ITM Power designs and manufactures
electrolysers based on proton exchange membrane
(PEM) technology to produce green hydrogen, the only net zero
energy gas, using renewable electricity and water.
About
Hygen:
Hygen is a leading developer, producer, and
asset owner of low-carbon hydrogen production facilities in the UK
and Europe, focusing on the decarbonisation of mobility,
construction, hard-to-electrify industries and power. Hygen is
focused on the development and building of low-carbon hydrogen
production facilities, currently targeting more than 500MW of
low-carbon hydrogen across the UK and Europe. Hygen is part of
HydraB, the group holding company of a number of 'Road to Zero'
companies which includes Ryze Hydrogen and Wrightbus.
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