A new contract has been created by ITM Power and this contract states that the company will supply 20MW of PEM electrolyser units to Greenstat’s Hydrogen Hub Agder. This facility is based in Norway, specifically Fiskå.

So far, the plan for this project is for the four 5MW containerised Neptune V plants to produce green hydrogen, which will go on to be used within the maritime sector. It is anticipated that production of this green hydrogen will commence in late 2026.

Greenstat is a subsidiary of La Française de l’Energie (FDE) and it was in August that this company started construction on the plant. This part of the project occurred once Greenstat had taken full ownership of the project from Everfuel.

Also, it has been suggested that the site at which this will take place, has the potential to be expanded. This expansion would involve adding 40MW of electrolysis capacity and it would occur from 2027.

In the past, Greenstat and Everfuel have signed Letters of Intent (LoIs) with companies with a focus on going through with a potential offtake of more than 8,000 tonnes of compressed hydrogen on an annual basis. The companies that have been involved in these agreements include Holland-Norway Lines, FFS Marine, and Arrive Shipping.

In 2022, the project received NOK 138m from the Norwegian Government, this was a significant award and it represented more than 40% of the total planned investment.

On the other hand, for ITM, this excellent deal is the company’s third Neptune V contract which has ocurred after the product was launched last year. When the launch occurred, the product was sold at £4.35m.

ITM CEO, Dennis Schulz, stated that, ‘the Nordics presented an “exciting opportunity for green hydrogen.”’