Company Announcements

ABO Energy has entered a strategic partnership with Hydropulse, the new build-own-operate subsidiary of ITM Power plc. The partnership combines ABO Energy’s contacts to industrial offtakers, strong international development capabilities and selected pre-developed green hydrogen projects, with Hydropulse’s expertise in building and operating modular, containerised green hydrogen production plants based on ITM’s market-leading electrolyser technology.

Together, both companies will generate value by combining development expertise with capital investment in hydrogen assets. In doing so, they can offer Hydrogen-as-a-Service and Infrastructure-as-a-Service across the entire value chain from green electrons to green molecules.

ABO Energy and Hydropulse will develop decentralised hydrogen production units on or near end user sites. This includes, among other things, permitting, electricity supply, engineering, construction and operation. Hydropulse will build, own and operate the hydrogen production facilities, while ABO Energy will contribute on the power and development side. This will enable industrial customers to access long-term reliable hydrogen supply without requiring upfront capital investment.

The collaboration will be anchored in Europe with a particular focus on Spain and Finland, where low power prices make green hydrogen production attractive. Promising initial projects with an imminent customer need for green hydrogen have already been identified.

Dennis Schulz, CEO of ITM Power, said, “This is about market traction. With ABO Energy’s access to sites and end users, we can realise projects faster and turn our technology into recurring revenues. Our modular approach, combined with ABO Energy’s project pipeline, creates a pragmatic route to help industry cut emissions. The partnership will also help us unlock new markets.”

Karsten Schlageter, Managing Director of ABO Energy, added: “It’s a breakthrough moment for many hydrogen projects. We can now offer our customers a one-stop solution from development to long-term operation without capex intensity. Many of our projects are already developed to a stage where we can move quickly when the offtake is committed. With Hydropulse on board, we can now offer our customers long-term reliable plant operation with a strong technology partner. This collaboration allows us to fast-track projects and deliver real value for industry.”

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

ABO Energy

Katja Burger, Communications Manager  +49 (0)611 26765981

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 ABO Energy:

ABO Energy develops and builds wind and solar farms as well as battery storage and hydrogen projects. Founded in 1996, the Germany-based company has built up a multi-gigawatt hydrogen pipeline besides its portfolio of more than 30 gigawatts in development across wind, solar and battery, and has realised 6.6 gigawatts of renewable energy capacity to date. 1,400 employees on four continents work with enthusiasm on the development, planning, financing, construction, operational management, and maintenance of plants for a sustainable energy supply. The shares are traded at Xetra and other German stock exchanges.