ITM Itm Power Plc

TIDMITM

RNS Number : 5664J

ITM Power PLC

17 August 2023

17 August 2023

ITM Power PLC

ITM Power releases POSEIDON, our new cutting-edge 20MW module

ITM is excited to announce the release of POSEIDON, our new cutting-edge 20MW core electrolysis process module. Engineered by ITM incorporating real-world lessons learned from commercial projects, this standardised module with optimised footprint is replicable for scaling up into large-scale plants.

POSEIDON consists of skid-mounted units which can be pre-fabricated and pre-tested. This reduces deployment timelines and construction costs, and de-risks projects.

The module is based on ITM's state-of-the-art stack technology, is suitable for both indoor and outdoor installation, and can be efficiently integrated into the balance of plant.

POSEIDON is now available and we have started bidding the module into commercial projects.

Dennis Schulz, CEO, said: "Green hydrogen project sizes continue to scale, and ITM is responding with a new product release. POSEIDON is a game-changer for large-scale electrolyser deployments."

For further information please visit www.itm-power.com or contact:

 
 ITM Power PLC 
 Justin Scarborough, Head of Investor Relations      +44 (0)114 551 1080 
  James Collins, Head of Corporate Affairs            +44 (0)114 551 1205 
 
 Investec Bank plc (Nominated Adviser and Broker)    +44 (0)20 7597 5970 
 James Rudd / Chris Sim / Ben Griffiths 
 
 

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.

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