ITM Power has entered into a capacity reservation agreement with RWE for 150 MW of NEPTUNE V units. This reservation, equivalent to 30 units, foresees call-offs by 2027. It follows RWE's operation of our 4-MW pilot plant and our ongoing delivery of 200 MW of electrolyzers for the GetH2 Nukleus project in Lingen, Germany.

RWE is a European energy company with a proven track record of delivering large-scale green H₂ projects. This agreement signifies important repeat business with a major industrial partner and underlines the growing demand for our products.

NEPTUNE V is their latest generation containerized, green H₂ plant solution. Each unit integrates all necessary balance of plant within a compact containerized design, enabling rapid deployment, simplified installation, and reliable operation. NEPTUNE V can be interconnected to form bigger container-based plants. Since its launch last year, the platform has gained strong commercial traction as a benchmark technology for commercial-scale green H₂ projects.

The company will provide further updates on this agreement as projects are called off and converted into firm orders.

Dennis Schulz, CEO, said, "We are proud to expand our collaboration with RWE. Building on our strong relationship developed through the joint execution of the GetH2 Nukleus project, this additional 150-MW capacity reservation underlines RWE's confidence in our technology and delivery capability. Repeat business with a global leader in energy is the strongest validation of our strategy, our products, and our people."