31st Mar 2016 09:15
LONDON (Alliance News) - ITM Power PLC on Thursday said it has sold a 1 megawatt electrolyser system with some additional equipment to German electric company ZEAG Energie AG.
The energy storage and clean fuel company said the system is being supplied with a two-year warranty plus a five-year maintenance contract, with delivery planned for the first quarter of 2017.
The system will be owned and operated by ZEAG but housed in a specially-constructed building located at DLR, the German Aerospace Centre in Lampoldshausen.
ITM Power said it is exploring a small further engineering consultancy contract to assist DLR with extended use of hydrogen facilities.
ITM didn't state the value of the new contract but said it currently has GBP11.4 million of projects under contract and a further GBP7.3 million of contracts in the final stages of negotiations.
"We are delighted to be working with ZEAG and DLR on this important sale for ITM Power. Germany continues to be an important early adoption market for hydrogen fuel and power-to-gas equipment and we look forward to updating the market in the near future on further sales," Chief Executive Graham Cooley said in a statement.
Shares in ITM Power were trading down 0.6% at 11.80 pence on Thursday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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