9th May 2025 13:43
ITM Power PLC - designer and manufacturer of electrolyser systems for green hydrogen production - Signs a contract to supply a Neptune II unit to an unnamed "leading" Spanish cement producer. Neptune II is the company's fully autonomous two megawatt electrolysed system, and it will be deployed in the client's cement production process, where green hydrogen will be mixed with natural gas in the cement kiln in order to reduce carbon dioxide emissions. ITM expects to recognise associated revenue, the value of which it does not disclose, in financial 2026.
"We are delighted that a well-established cement producer has chosen ITM for this project," says Chief Executive Officer Dennis Schulz. "This will be ITM's first system deployment in the cement industry, which, according to the International Energy Agency, accounts for around 8% of global CO2 emissions."
Current stock price: 37.08 pence, up 5.6% in London on Friday afternoon
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By Emily Parsons, Alliance News reporter
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