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ITM Power moves into gigafactory in Sheffield, UK

ITM Power moves into gigafactory in Sheffield, UK

ITM Power’s move to its new 1GW electrolyser factory in Sheffield, UK gives the hydrogen energy solutions manufacturer a powerful cost reduction trajectory, the firm’s CEO said.

Graham Cooley made the comments as ITM Power published its half year results today for the six-month period ending 31st October, 2020, in which the company announced a 16% increase in total income to £4.4m.

This was despite revenue falling 92% due to delays in final installation projects required for revenue recognition arising from Covid-19 issues, ITM Power said.

Other highlights from the six-month period include partnership with Snam to develop projects with preferred supplier status for the first 100MW; first major ITM Linde Electrolysis (ILE) project of 24MW in Leuna, Germany; and collaboration with Orsted and Siemens Gamesa on the €5m EU-funded Oyster project.

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