No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - ITM Power announced a significant capacity reservation agreement with a major global industrial customer on Monday, securing 500MW of future production capacity for ITM Power's advanced electrolyser stacks.
The AIM-traded firm said the contract spanned until the end of 2028 and encompassed call-offs for future projects across Europe and the United States.
While specific contract details remained undisclosed, the board said the agreement represented a substantial step forward for ITM Power, ensuring a steady production pipeline and reinforcing its market presence in key regions.
"Today's announcement is a great example of how close collaboration will unlock competitive and successful green hydrogen projects," said chief executive officer Dennis Schulz.
"Following the already announced capacity reservation for 100MW from Shell, this agreement with yet another large-scale industrial customer is a validation of our technology and credibility to deliver."
At 0914 BST, shares in ITM Power were up 12.34% at 56.25p.
Reporting by Josh White for Sharecast.com.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.
