ITM Power (LSE:ITM) has secured a 12.5MW contract with Octopus Energy Generation to supply its NEPTUNE V green hydrogen systems for use at Kimberly-Clark’s Northfleet manufacturing facility in the UK. The project will support efforts to decarbonise paper production by integrating green hydrogen into an innovative dual-fuel boiler system.
Under the agreement, hydrogen produced on site will contribute to Kimberly-Clark’s objective of sourcing 100% renewable energy for its operations. The installation highlights the growing role of green hydrogen in reducing emissions across energy-intensive industrial processes, with the facility expected to become operational by the end of 2027.
From a market perspective, ITM Power continues to face financial challenges, including ongoing losses and cash flow pressures. While management commentary points to a strong order backlog and revenue growth potential, technical indicators and valuation measures suggest a cautious near-term outlook. Operational efficiency and execution remain key areas of focus as the company seeks to convert contract wins into sustainable profitability.
More about ITM Power
ITM Power plc is a UK-based manufacturer of green hydrogen technology, specialising in proton exchange membrane (PEM) electrolysers. Founded in 2000 and headquartered in Sheffield, the company develops systems that use renewable electricity and water to produce hydrogen, supporting net zero ambitions across industrial and energy markets.
Leave a Reply