ITM Power subsidiary, ITM Motive has become a separate company and has taken over its hydrogen refuelling portfolio, which the energy storage and clean fuel firm says makes ITM Motive the largest operator of hydrogen stations in the UK.
All English refuelling assets owned by ITM Power had previously been transferred to ITM Motive meaning the company operates a portfolio of 12 hydrogen refuelling stations (HRS) eight of which are currently commissioned with four in build or funded.
ITM Motive expects to rapidly grow its current portfolio of hydrogen refuelling stations in the UK with the new company already talking to potential partners which could provide investment, complementary engineering skills and access to markets.
The portfolio has a total hydrogen generation capacity of 3.1 tonnes per day and a dispensing capacity of 7.8 tonnes per day which at full capacity, and today’s hydrogen fuel prices, would produce annual revenues of £9.27m ($12.86m)
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