13 August 2025
ITM Power plc
20MW supply agreement with MorGen Energy
ITM Power is delighted to announce the signing of a supply agreement and binding heads of terms for a long-term services agreement with MorGen Energy for the 20MW West Wales Hydrogen project in Milford Haven, UK. This milestone marks a significant step in this project under the UK Government's Hydrogen Allocation Round 1 (HAR1). With permits secured and commercial terms with the project stakeholders nearing completion, the project is well on track towards Final Investment Decision (FID) and is expected to break ground before calendar year-end.
The West Wales Hydrogen Project - now confirmed as one of the two UK projects where ITM was announced as the selected electrolyser supplier on 17 June - will deploy POSEIDON, our 20 MW modular electrolyser platform, reinforcing our leadership in scalable, high-performance green hydrogen solutions.
The project was awarded funding under the Department for Energy Security & Net Zero (DESNZ) HAR1 programme. Located on the former Milford Haven Refinery site, the plant will supply industrial clusters in Milford Haven, Port Talbot, and other locations across Wales, as well as support green transport.
Dennis Schulz, CEO, said, "This contract marks a major milestone for ITM Power and the UK hydrogen sector. Selection for the West Wales Hydrogen Project demonstrates confidence in our technology, delivery capability, and the critical role green hydrogen plays in the energy transition. We are proud to be partnering with MorGen Energy to bring POSEIDON to life in a project of national significance."
Werner Lieberherr, CEO of MorGen Energy, said, "The West Wales Hydrogen Project is a cornerstone of our vision for a cleaner, more resilient energy future for Wales and the UK. Working with ITM Power's world-class electrolyser technology allows us to deliver not only a pioneering energy project, but also an economic catalyst - creating high-value jobs, strengthening supply chains, and positioning Wales at the forefront of the green hydrogen economy. Guided by a purpose-led and performance-driven approach, we are committed to ensuring this partnership delivers both environmental impact and lasting prosperity for the communities we serve."
For further information, please visit www.itm-power.com or contact:
| ITM Power plc |
|
| Justin Scarborough, Head of Investor Relations
| +44 (0)114 551 1080 |
| Berenberg |
|
| Ciaran Walsh, Harry Nicholas
| +44 (0)20 3207 7800 |
| J.P. Morgan Cazenove |
|
| Richard Perelman, Charles Oakes | +44 (0)20 7742 4000 |
About ITM Power plc:
ITM Power was founded in 2000 and ITM Power plc was admitted to the AIM of the London Stock Exchange in 2004. Headquartered in Sheffield, England, ITM Power designs and manufactures electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen, the only net zero energy gas, using renewable electricity and water.
About MorGen Energy:
MorGen Energy is a clean hydrogen development platform, advancing large-scale, cost-competitive hydrogen production. As a subsidiary of Trafigura, one of the world's leading commodity trading firms, MorGen is building the infrastructure and partnerships needed to make clean hydrogen commercially viable and industrially relevant - today. Purpose-led and performance-driven, MorGen combines technical innovation, entrepreneurial drive, and global scale to deliver clean molecules for a net-zero future. To learn more, visit www.morgenenergy.com
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