ITM Power Signs Contract for NEPTUNE V Units in Norway's Hydrogen Hub
Key Ideas
- ITM Power has secured a contract to supply four NEPTUNE V green hydrogen plants to FDE for Norway's Hydrogen Hub Agder project.
- The 20MW green hydrogen facility will cater to the maritime industry, with production expected to commence in late 2026 and expand to 60MW by 2027.
- Executives from both ITM Power and FDE expressed excitement and privilege in collaborating on one of Norway's largest green hydrogen projects.
- ITM Power, headquartered in Sheffield, specializes in designing and manufacturing electrolysers for green hydrogen production using renewable sources.
ITM Power PLC has announced a significant contract with La Française de l'Energie SA (FDE) to supply four NEPTUNE V units, each with a capacity of 5MW, for the Agder Hydrogen Hub project in Norway. These green hydrogen plants, incorporating ITM's TRIDENT stack technology, aim to provide reliable and efficient hydrogen production for the maritime industry. The first phase of the project, owned by Greenstat, a subsidiary of FDE, is set to begin operations in late 2026, with a planned expansion to 60MW by 2027.
Both CEOs, Dennis Schulz of ITM Power and Antoine Forcinal of FDE, expressed satisfaction with the partnership, highlighting the growing opportunities for green hydrogen in the Nordic countries. The collaboration signifies a step towards sustainable energy production and signifies a positive development in the green energy sector.
ITM Power, founded in 2000 and listed on the AIM market of the London Stock Exchange, is known for its expertise in proton exchange membrane (PEM) electrolysis technology for green hydrogen production. The company's involvement in large-scale projects like the Agder Hydrogen Hub project reinforces its position in the renewable energy industry.