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ITM Power moves into Australia with new electrolyser sale

Mon 14 January 2019 08:31 | A A A

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(Sharecast News) - Energy storage and clean fuel company ITM Power has inked a deal that will see it send four 250kW electrolyser systems to three different customers across Australia.

ITM Power said the four deployments represented "an important step" in entering a "significant new territory" and will serve as reference plants for the AIM-listed outfit's technology in both the mobility and industrial hydrogen sectors in Australia.

As it moves ahead with the project, ITM Power said the new deal was just the first step towards building a "critical mass" of units in Australia, allowing the company to optimise both commissioning, after-sales support and spares holding.

Chief executive Dr Graham Cooley said: "Australia is a very exciting new market for green hydrogen production and we are pleased to be making these important deployments of reference plants for ITM Power technology."

"Australia holds significant growth opportunities for us and demonstrates the accelerating momentum in the hydrogen sector."

As of 0830 GMT, ITM Power shares had slipped 2.87% to 20.98p.

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