ITM Power selected for large-scale green hydrogen project

(Sharecast News) - ITM Power has secured a major agreement to supply more than 300 megawatts of electrolysers for a green hydrogen project in the Asia-Pacific region, it announced on Monday. The AIM-traded firm said the hydrogen produced would be used to power a plant in the region, contributing to carbon emissions reduction.

While the unnamed customer had received funding approval from local authorities, the project remained subject to a final investment decision.

"We are delighted to work with our customer to advance the engineering, permitting and wider plant integration to drive this large-scale project to FID," said chief executive officer Dennis Schulz.

At 1002 BST, shares in ITM Power were up 16.23% at 41.61p.

Reporting by Josh White for Sharecast.com.