20MW contract FID

Summary by AI ^BETAClose X

ITM Power plc has received a Notice to Proceed for a 20MW project following the customer's Final Investment Decision, officially commencing the contract and adding it to the company's contracted order backlog. The company anticipates sharing further project specifics by the end of the first quarter of 2026.

Disclaimer*

ITM Power PLC

16 February 2026

ITM Power plc

20MW contract FID

ITM is pleased to confirm receipt of the Notice to Proceed (NtP) for a 20MW project, which we previously announced and for which the customer has now taken a Final Investment Decision (FID).

ITM anticipates being able to provide further details towards the end of the first quarter of 2026.

The NtP formally authorises ITM to commence full project work, thereby setting the official contract start date. Accordingly, the contract is now firm and will be added to our contracted order backlog.

Dennis Schulz, CEO, said, "We are proud that we have been entrusted to deliver yet another important industrial-scale project, and we are looking forward to providing more information on the project specifics in due course."

For further information, please visit www.itm-power.com or contact:

ITM Power plc
Justin Scarborough, Head of Investor Relations	+44 (0)114 551 1080
Berenberg
Ciaran Walsh, Harry Nicholas	+44 (0)20 3207 7800
J.P. Morgan Cazenove
Richard Perelman, Charles Oakes	+44 (0)20 7742 4000

About ITM Power plc:

ITM Power was founded in 2000 and ITM Power plc was admitted to the AIM of the London Stock Exchange in 2004. Headquartered in Sheffield, England, ITM Power designs and manufactures electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen, the only net zero energy gas, using renewable electricity and water.

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