ITM Power Plc (ITM.L) has announced the successful acquisition of a Front-End Engineering Design (FEED) contract with a green hydrogen plant developer for a 50MW green hydrogen production site in the European Union. The contract, whose terms remain undisclosed, will focus on utilizing ten NEPTUNE V units, ITM Power's 5MW containerised electrolyser plant designed for mid-sized projects. This initiative is aimed at advancing the project's development in preparation for a Final Investment Decision expected by 2025. The green hydrogen plant is projected to commence production of approximately 5,000 tonnes of green hydrogen annually, starting in the latter part of 2027, primarily catering to local industries. CEO Dennis Schulz expressed satisfaction with the progress, highlighting the rapid adoption of mid-sized green hydrogen projects, as evidenced by the industry's current momentum. Following this announcement, ITM Power's shares on the London Stock Exchange experienced a positive trend, trading 3.95 percent higher at 34.72 pence. This development signifies a significant step towards the establishment of sustainable green hydrogen production in the region.