ITM Power electrolyser order book up 131% in 12 months
By - Hypx
>Business is booming for ITM Power which today (June 10) revealed its tender pipeline has more than doubled in the past 12 months, highlighting the rapid market demand for green hydrogen.
>As of April 2021, the British electrolyser manufacturer has a tender pipeline of £607m ($858m), up 131%, which constitutes to 593MW of potential electrolysis demand, ITM Power said.
>The company’s contracts backlog is also up 194% at £154m ($217m), constituting 290MW of electrolysers.
Rapid, exponential growth in this sector.
Particularly for places that are hostile to renewables, being able to dump their production into something that is independent of the grid means that renewables can increase penetration without storage, decreasing fossil fuel generator financial returns.