ITM Power wins contract in Germany

ITM Power announced the award of a contract for the procurement of long lead-time materials and components for a particular project, it announced on Monday.

The AIM-traded firm said the materials and components would be needed for the manufacturing of its MEP30 skids for a 100MW project in Germany.

It said the customer was aiming to take a final investment decision in 2023.

“This order is an important endorsement of our technology and capability to deliver projects at scale,” said chief executive officer Dennis Schulz.

“It will be the third 100MW project we are entrusted to execute.”

At 1518 BST, shares in ITM Power were up 2.65% at 75.44p.

Reporting by Josh White for Sharecast.com.