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On 22 September 2025, ITM Power plc announced it has entered into a capacity reservation agreement with RWE. This agreement is for 150MW of NEPTUNE V units, equivalent to 30 units, with call-offs foreseen by 2027.
| Date | 22 Sept 2025 |
| Time | 07:00:04 |
| Category | Acquisitions and alliances |
| ID | 1222A |
22 September 2025
ITM Power plc
Capacity reservation with RWE for 150MW of NEPTUNE V units
ITM Power is pleased to announce that we have entered into a capacity reservation agreement with RWE for 150MW of NEPTUNE V units.
This reservation, equivalent to 30 units, foresees call-offs by 2027. It follows RWE's operation of our 4MW pilot plant and our ongoing delivery of 200MW of electrolysers for the GetH2 Nukleus project in Lingen, Germany.
RWE is a leading European energy company with a proven track record of delivering large-scale green hydrogen projects. This agreement signifies important repeat business with a major industrial partner and underlines the growing demand for our products.
NEPTUNE V is our latest generation containerised, green hydrogen plant solution. Each unit integrates all necessary balance of plant within a compact containerised design, enabling rapid deployment, simplified installation, and reliable operation. NEPTUNE V can be interconnected to form bigger container-based plants. Since its launch last year, the platform has gained strong commercial traction as a benchmark technology for commercial-scale green hydrogen projects.
The Company will provide further updates on this agreement as projects are called off and converted into firm orders.
Dennis Schulz, CEO, said: "We are proud to expand our collaboration with RWE. Building on our strong relationship developed through the joint execution of the GetH2 Nukleus project, this additional 150MW capacity reservation underlines RWE's confidence in our technology and delivery capability. Repeat business with a global leader in energy is the strongest validation of our strategy, our products, and our people."
For further information, please visit www.itm-power.com or contact:
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ITM Power plc |
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Justin Scarborough, Head of Investor Relations
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+44 (0)114 551 1080 |
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Berenberg |
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Ciaran Walsh, Harry Nicholas
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+44 (0)20 3207 7800 |
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J.P. Morgan Cazenove |
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Richard Perelman, Charles Oakes |
+44 (0)20 7742 4000 |
About ITM Power plc:
ITM Power was founded in 2000 and ITM Power plc was admitted to the AIM of the London Stock Exchange in 2004. Headquartered in Sheffield, England, ITM Power designs and manufactures electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen, the only net zero energy gas, using renewable electricity and water.