NEPTUNE II contract with a cement producer
Signed contract to supply NEPTUNE II 2MW electrolyser unit to Spanish cement producer for hydrogen blending in kiln.
- NEPTUNE II capacity 2MW
- Expected revenue recognition FY26
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ITM Power is pleased to announce that we have signed a contract to supply a NEPTUNE II unit to a leading Spanish cement producer.
NEPTUNE II is our fully autonomous 2MW electrolyser system. Supplied with power conversion and incorporating all necessary balance of plant, the green hydrogen plant can be readily deployed as a complete package.
The NEPTUNE II unit will be deployed in the cement production process, where green hydrogen will be mixed with natural gas in the cement kiln, thereby reducing CO2 emissions.
With the shorter lead times for our NEPTUNE II containers, we expect to recognise the associated revenue for this contract in FY26.
Dennis Schulz, CEO, said, "We are delighted that a well-established cement producer has chosen ITM for this project. This will be ITM's first system deployment in the cement industry, which, according to the International Energy Agency, accounts for around 8% of global CO2 emissions."
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.