Business is booming for ITM Power which today (June 10) revealed its tender pipeline has more than doubled in the past 12 months, highlighting the rapid market demand for green hydrogen.
As of April 2021, the British electrolyser manufacturer has a tender pipeline of £607m ($858m), up 131%, which constitutes to 593MW of potential electrolysis demand, ITM Power said.
The company’s contracts backlog is also up 194% at £154m ($217m), constituting 290MW of electrolysers.
“Traction in the electrolyser industry has been even more rapid than we were anticipating,” said Dr.Graham Cooley, CEO of ITM Power.
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