City Briefs: ITM Power and Powerhouse Energy Group
Sheffield-based energy storage and clean fuel company, ITM Power, says it has signed a capacity reservation agreement with Shell Deutschland GmbH.
Under this deal, Shell has secured future production capacity for the manufacturing of ITM’s electrolyser stacks.
The reservation covers 100MW of TRIDENT electrolyser stacks to be manufactured in calendar years 2025 to 2026 in relation to the Refhyne 2 project at the Shell Energy and Chemical Plant in Rhineland, Germany, which remains subject to a final investment decision.
Dennis Schulz, CEO of ITM, said: “Today’s announcement is yet another validation of our technology and credibility to deliver at scale, providing reassuring recognition by a world-leading industrial customer.
“The capacity reservation also reflects the upcoming challenge for customers to secure credible large-scale delivery capability within the PEM electrolyser sphere, against a quickly growing demand.”
Powerhouse Energy Group, which develops technology to convert non-recyclable waste into low carbon energy, has confirmed its CEO Paul Emmitt acquired 3,574,901 ordinary shares of 0.5p each in the firm on 8 December 2023.
The acquisition means Emmitt is now beneficially interested in 3,574,901 ordinary shares, which represents 0.09% of the Bingley-headquartered company’s issued ordinary share capital.