ITM Power Launches Hydropulse GmbH in Berlin to Serve Industrial Hydrogen Needs in Europe
Key Ideas
- ITM Power establishes Hydropulse GmbH in Berlin, Germany, to operate green hydrogen production plants for industrial clients using NEPTUNE technology.
- Hydropulse targets industrial sectors like mobility, chemicals, steel, food processing, and refineries in Europe, focusing on Germany, the UK, and the Nordics.
- The subsidiary aims for steady revenue through long-term offtake agreements, leveraging ITM Power's expertise to drive profitability and industry growth.
- Hydropulse's CEO emphasizes the company's capacity to overcome market challenges and facilitate the acceleration of green hydrogen initiatives in a sustainable manner.
Sheffield-based ITM Power has introduced a new subsidiary, Hydropulse GmbH, in Berlin, Germany, to cater to the burgeoning demand for green hydrogen in European industries. Hydropulse will specifically focus on utilizing ITM's NEPTUNE technology to construct decentralized green hydrogen production facilities. The subsidiary's primary clientele will include sectors with a consistent need for hydrogen such as mobility, chemicals, steel, food processing, and refineries, predominantly targeting markets in Germany, the UK, and the Nordics. By ensuring direct access to ITM Power's electrolyser systems, Hydropulse aims to provide reliable and sustainable hydrogen solutions under long-term agreements. The company's strategic approach eliminates the uncertainties associated with merchant hydrogen markets, logistics, and speculative refueling infrastructure. Dennis Schulz, the CEO of ITM Power and managing director of Hydropulse, expressed confidence in the subsidiary's ability to address critical challenges, bolstering the green hydrogen sector's growth. Hydropulse's launch signifies a significant step towards enhancing industry sustainability and driving revenue growth through innovative green hydrogen initiatives.
Topics
Europe
Renewable Energy
Revenue Growth
Industry Growth
Market Expansion
Green Hydrogen Production
Electrolyser Manufacturer
Industrial Customers
Bankability
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