ITM Power signs FEED contract for Uniper's Humber H2ub project

(Sharecast News) - Electrolysers business ITM Power said on Monday that it has signed a Front-End Engineering Design contract for Uniper's 120 megawatt Humber H2ub project. ITM Power said this "milestone" contract follows its selection as the electrolyser supplier for the project back on 8 May.

The AIM-listed group said it will deploy six 20 megawatt POSEIDON core electrolysis process modules into the project, which remains subject to final investment decision, targeted to be operational in 2029.

Chief executive Dennis Schulz said" "The Humber project represents exactly the kind of scale, ambition and strategic alignment the green hydrogen sector needs right now. Signing the FEED contract is not just another milestone - it is a signal that industrial decarbonisation in the UK is moving from concept to reality.

"ITM's technology and expertise are at the forefront of that transformation. We look forward to working with Uniper to progress this landmark project through FID."

As of 0920 BST, ITM Power shares were down 5.10% at 70.70p.



Reporting by Iain Gilbert at Sharecast.com