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(Sharecast News) - Electrolysers business ITM Power said on Tuesday that it had secured two new UK-based contracts for its POSEIDON offering.
ITM Power said an unnamed British customer has selected it as the supplier for a "large-scale green hydrogen project in the UK", which was successful in the government's Hydrogen Allocation Round 2, alongside a separate, smaller project in the UK.
The AIM-listed firm said it will deploy POSEIDON, its core electrolysis process module, into both projects.
ITM stated that the two projects aim to supply local industries with green hydrogen to reduce carbon emissions. It also noted that each project remains subject to a Final Investment Decision.
Chief executive Dennis Schulz said: "We are honoured to be chosen for yet another HAR2 project in the UK, just weeks after Uniper confirmed us for their 120MW Humber project.
"This supplier selection demonstrates two things: that the UK is starting to gain traction in green hydrogen, and that we are establishing early leadership in our home market."
As of 0955 BST, ITM Power shares had shot up 10.36% to 81.01p.
Reporting by Iain Gilbert at Sharecast.com
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