ITM Power PLC Inks First Agreement for NEPTUNE V Hydrogen Production System
ITM Power Secures First Contract for NEPTUNE V Electrolyser with Guttroff GmbH
ITM Power PLC, a leading innovator in the field of hydrogen technology, has announced its first contract for the NEPTUNE V electrolyser unit. The contract was signed with Guttroff GmbH, a prestigious private German company celebrating its 100th company anniversary in 2025.
The NEPTUNE V electrolyser, launched in May, utilizes ITM's leading TRIDENT stack technology and provides reliable, flexible, and highly efficient hydrogen production capacity. The 5 MW unit will be deployed in a planned refuelling station, marking a significant step in the hydrogen market.
Guttroff GmbH has chosen ITM Power's technology for its green hydrogen project, which is expected to benefit from the Bavarian electrolyser subsidy program. The program aims to start the domestic production of green hydrogen in the area, with the funding for this contract not specified in the available search results.
The NEPTUNE V, a full-scope 5MW containerized electrolyser plant, has been well received by customers since its launch. The industry's smallest footprint per MW remains a key feature of the NEPTUNE V electrolyser, making it an attractive solution for companies looking to invest in green hydrogen production.
Dennis Schulz, CEO of Guttroff GmbH, made a statement about the contract, expressing his excitement about the partnership with ITM Power and the potential of the NEPTUNE V technology.
In addition to this contract, ITM Power also signed a 100 MW REFHYNE II contract on August 13, 2024, but this is a separate and larger contract unrelated to the NEPTUNE V sale. The level of interest in NEPTUNE V technology is evident from this contract, signifying a promising future for ITM Power and the hydrogen market.
[1] ITM Power Press Release - https://www.itm-power.com/itm-power-signs-contract-to-supply-neptune-v-electrolyser-to-guttroff-gmbh/ [2] H2 Bulletin - https://www.h2bulletin.com/news/itm-power-signs-first-neptune-v-contract-with-guttroff-gmbh/
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