UK electrolyser manufacturer ITM Power has announced that Dennis Schulz will replace Graham Cooley as CEO from 1 December 2022.

Schulz is currently managing director at Linde Engineering, a division of industrial gases firm Linde.  He has also worked in project management, strategy and CFO roles at Linde.

Linde and ITM have a strategic partnership and a joint venture called ITM Linde Electrolysis. Schulz has been closely involved in this partnership and has significant experience in the market for green hydrogen and decarbonisation. 

“We have no doubt that Dennis has the right experience, skills and enthusiasm to take ITM Power to the next phase in its development,” says ITM chair Roger Bone.

ITM raised £250mn ($302mn) in equity financing last year and has aggressively expanded its business. Its 1GW/yr facility at Bessemer Park in Sheffield was completed in January, and the firm recently acquired a site for a second factory in nearby Tinsley capable of producing 1.5GW/yr of electrolysers that it hopes to be fully operational by the end of 2023.

But the firm recently warned of delays in closing contracts because of production issues.

Moving forward

The company has great potential, according to Schulz.“I welcome the opportunity to help ITM steer a successful path from the development of first-of-a-kind technology to becoming a highly efficient and reliable technology and manufacturing company,” he says.

Cooley—who has been CEO for more than 13 years—will stay at the company in a senior strategic role. Cooley decided to step down earlier in the year after realising the company needed new leadership to expand as it should.

“I recognise that the skills now required to take the company forward are those of a world-class manufacturing professional who has expanded a manufacturing organisation internationally,” he said in September.

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Author: Tom Young