28 June 2021
ITM Power plc
("ITM Power" or the "Company")
ITM Power Hosts Energy and Mining Ministry Delegation from Chile
ITM Power (AIM: ITM), the energy storage and clean fuel company, was pleased to host a high level delegation from Chile lead by Juan Carlos Jobet, Minister for Energy and Mining at the Company's new gigawatt electrolyser factory at Bessemer Park, Sheffield.
The visit was part of a roadshow throughout Europe to present Chile's National Green Hydrogen Strategy. Launched in November 2020, the strategy will help Chile to achieve its goal of carbon neutrality by 2050. The three main objectives of the strategy are: to have 5GW of electrolysis capacity under development by 2025; to have installed 25GW of electrolyser capacity by 2030, producing the cheapest green hydrogen in the world; and, to be among the world's three largest hydrogen exporters by 2040.
The visit was hosted by ITM Power's chairman, Sir Roger Bone and the Company's CEO, Dr Graham Cooley. Following a tour of the facility, both parties enjoyed a full discussion about target end user markets, electrolyser manufacturing, coupling electrolysis equipment to Chile's abundant renewable power sources and presenting green hydrogen strategies at the forthcoming COP 26.
Sir Roger Bone, Chairman of ITM Power, said: "Chile has one of the most ambitious green hydrogen strategies in the world. We were delighted to discuss the strategy with Minister Jobet and his team and to show them round our factory here in Sheffield. We are keen to focus our company's development on those countries with significant low cost renewable energy resources and strong green hydrogen strategies, of which Chile is a very important example."
Minister Jobet added: "Our visit to ITM Power's Gigafactory, their impressive gigawatt electrolyser facility, gives us confidence that ITM Power has a product portfolio and a manufacturing capacity that could play a key role helping Chile meet our ambitious green hydrogen targets. It was fascinating for us to see the manufacturing process, the scaled-up products and to meet people with the skills and knowledge to deliver industrial scale green hydrogen."
For further information please visit www.itm-power.com or contact:
| ITM Power plc | +44 (0)114 551 1205 |
| James Collins, Investor Relations | ir@itm-power.com |
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| Investec Bank plc (Nominated Adviser and Broker) | +44 (0)20 7597 5970 |
| Jeremy Ellis / Chris Sim / Ben Griffiths |
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| Tavistock (Financial PR and IR) | +44 (0)20 7920 3150 |
| Simon Hudson / David Cracknell / Tim Pearson |
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About ITM Power plc:
ITM Power plc manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of renewable hydrogen for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004. In October 2019, the Company announced the completion of a £58.8 million fundraising, including an investment by Linde of £38 million, together with the formation of a joint venture with Linde to focus on delivering renewable hydrogen to large-scale industrial projects worldwide. ITM Power signed a deal to deploy a 10MW electrolyser at Shell's Rhineland refinery. In November 2020, ITM Power completed a £172m fundraising, including a £30m investment by Snam, one of the world's leading energy infrastructure operators. ITM Power operates from the world's largest electrolyser factory in Sheffield with a capacity of 1GW (1,000MW) per annum. ITM Power received an order for the world's largest PEM electrolyser of 24MW from Linde in January 2021. Other customers and partners include Sumitomo, Ørsted, Phillips 66, Scottish Power, Siemens Gamesa, Cadent, Northern Gas Networks, Gasunie, RWE, Engie, GNVert, National Express, Toyota, Hyundai and Anglo American among others.
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