ITM Power, based in Sheffield, England, has secured a front-end engineering design (FEED) contract as the technology provider for a 50 megawatt green hydrogen production site in the EU. The project will be based on ten Neptune V units, ITM Power's 5 megawatt containerised electrolyser plant designed for mid-sized projects. Anticipated to begin operation in the second half of 2027, the plant is set to produce around 5,000 tonnes of green hydrogen annually to supply local industries. The contract will facilitate project development leading up to a final investment decision in 2025, signifying a positive growth trajectory for ITM Power. CEO Dennis Schulz expressed excitement over the selection, highlighting the momentum in mid-sized green hydrogen projects. The company's shares experienced a 1.1% increase in response to the news, indicating investor confidence in ITM Power's position in the green hydrogen market.