13 February 2025
ITM Power PLC
Contract with FDE for four NEPTUNE
V
ITM Power is pleased to announce that we have
signed a contract to supply four NEPTUNE V units, totalling 20MW,
to La Française de l'Energie SA (FDE), an independent
multi-energy producer.
NEPTUNE V is our full-scope 5MW containerised
green hydrogen plant, which utilises
ITM's leading and proven TRIDENT stack technology. It provides
reliable, flexible, and highly efficient hydrogen production
capacity and the industry's smallest footprint per MW.
The NEPTUNE V units will be deployed into the
first phase of Norway's Hydrogen Hub Agder project, 100% owned by
Greenstat, a subsidiary of FDE, developing green energy production
projects in Norway. The 20MW green hydrogen hub facility will be
dedicated to supplying the maritime industry, and production is
expected to start in late 2026. The second phase is expected to be
an additional 40MW, which is planned to be launched in
2027.
Dennis Schulz, CEO of ITM, said: "The Nordic
countries present an exciting opportunity for green hydrogen, and
it is a privilege that FDE has selected us for the Agder Hydrogen
Hub in Norway."
Antoine Forcinal, CEO of FDE, said: "We are
delighted to work with ITM as a partner for the supply of an
integrated electrolyser solution for our Agder Hydrogen Hub
project, one of the largest green hydrogen projects in
Norway."
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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Berenberg
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Ciaran Walsh, Harry Nicholas
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+44 (0)20 3207 7800
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J.P. Morgan
Cazenove
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Richard Perelman, Charles Oakes
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+44 (0) 20 7742 4000
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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.
