ITM Power Plc
Other OTCCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Dennis Schulz
- Full Time Employees
- 359
- Sector
- Industrials
- Industry
- Industrial - Machinery
- Address
- 2 Bessemer Park Sheffield United Kingdom S9 1DZ
- IPO Date
- Sep 1, 2004
- Website
- itm-power.com
- Similar Companies
- Business
- ITM Power Plc designs, manufactures and integrates proton exchange membrane (PEM) electrolysers to produce green hydrogen from renewable electricity and water, serving applications in mobility, power-to-X, industry, energy storage and grid balancing. The company offers a range of modular, containerised and full-scope electrolyser products, including the TRIDENT stack platform; autonomous 2 MW NEPTUNE plants for small-scale projects; best-in-class 5 MW NEPTUNE II and NEPTUNE V plug-and-play plants for mid-size deployments; cutting-edge 20 MW POSEIDON modules for large-scale initiatives; and the Alpha 50 full-scope 50 MW plant uniting technology, manufacturing and deployment. These solutions produce high-purity hydrogen at pressures up to 30 bar with rapid load response, enabling customers including utilities, refineries, cement producers and transport operators to decarbonise processes across sectors such as chemicals, refining, steel, glass, maritime and aviation. Founded in 2000 and listed on the AIM market of the London Stock Exchange in 2004, ITM Power is headquartered in Sheffield, England, at the world's largest electrolyser factory, with additional sites in Sheffield, an office in Hesse, Germany, and operations spanning the United Kingdom, Germany, rest of Europe, the United States and Australia. The company maintains full ownership of its core science and manufacturing processes, supporting rapid innovation including a next-generation CHRONOS stack platform and ongoing iridium loading reductions of up to 40% to lower costs. In recent developments, ITM Power has secured a record contracted order backlog of £145 million as of April 2025, including a 100 MW REFHYNE II contract with Shell, three NEPTUNE V contracts totalling 40 MW, inauguration of a 24 MW Yara plant in Norway, commissioning of a 4 MW RWE pilot in Germany, and post-year-end wins such as NEPTUNE V with Westnetz in Germany, POSEIDON with MorGen Energy for a 20 MW West Wales project, NEPTUNE II with a Spanish cement producer, and selection for Uniper's 120 MW Humber H2ub project and over 300 MW in the APAC region. The company launched Hydropulse in June 2025 as a build-own-operate subsidiary focused on decentralised plants using NEPTUNE technology for industrial offtakers under long-term agreements; entered a strategic partnership with ABO Energy in August 2025 targeting Spain and Finland; signed a collaboration with Deutsche Bahn AG on sustainable transport; won a front-end engineering design contract for a UK HAR2-shortlisted project; and achieved a transformative 99% factory acceptance test pass rate while streamlining its product portfolio. These initiatives reflect accelerated commercial momentum, revenue growth exceeding 50% to £26 million in FY25, and a shift toward profitable contracts comprising 60% of the backlog.
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