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ITM Power to build second Gigafactory in the UK and teases plans for a third overseas
© ITM Power

ITM Power to build second Gigafactory in the UK and teases plans for a third overseas

ITM Power today (Oct 15) said it has secured £250m ($343m) to build a second gigafactory in the UK to manufacture electrolysers and has plans to build a third overseas as the group targets 5GW per annum of manufacturing capacity by 2024.

The plans were first revealed to H2 View in June by Dr. Rachel Smith, Executive Director of ITM Power, who confirmed the company had “already raised sufficient funds to build a second factory” which “would be even bigger than the current one”.

ITM Power moved into the world’s largest electrolyser manufacturing facility in Sheffield, UK in January 2021.

Read more: ITM Power highlights ‘transformational’ year in FY21 results

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