- ITM Power
- 27 March 2025 11:44:48
Source: Sharecast
The AIM-traded firm said the project was part of the UK government's Hydrogen Allocation Round 1, and had secured backing from the Net Zero Hydrogen Fund.
It said the engineering package would focus on the integration of four Neptune II units - ITM’s 2MW containerised electrolyser systems - alongside the wider plant infrastructure.
The agreement followed a capacity reservation announced in July last year with a major utility, now confirmed to be part of the EDF-led project.
ITM said the Tees Green Hydrogen project was designed to supply green hydrogen to local industry and transport sectors, contributing to decarbonisation and long-term industrial sustainability in the region.
“It is a privilege to have been selected by EDF Renewables UK and Hynamics, and we look forward to collaborating with them,” said chief executive officer Dennis Schulz.
At 1122 GMT, shares in ITM Power were down 4.77% at 27.14p.
Reporting by Josh White for Sharecast.com.