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Highlights

  • Contract Signed with Leading Spanish Cement Firm: ITM Power to supply its 2MW NEPTUNE II electrolyser for industrial decarbonisation.

  • First Entry into Cement Industry: Marks ITM’s debut in a sector responsible for 8% of global CO2 emissions.

  • Revenue to Be Recognised in FY26: Shorter NEPTUNE II lead times enable accelerated delivery and project realisation.

ITM Power (LSE:ITM), a leading UK-based manufacturer of electrolysers for green hydrogen production, has announced the signing of a key supply contract with a prominent Spanish cement producer. The agreement marks the company's first foray into the global cement sector—an industry known for its high carbon footprint.

Under the contract, ITM Power will supply its NEPTUNE II system, a fully autonomous 2MW electrolyser unit designed for rapid deployment and integration. The system, which includes power conversion and all necessary balance-of-plant components, will be installed within the cement production process, where green hydrogen will be blended with natural gas in the kiln. This method is expected to substantially reduce carbon dioxide emissions.

The deployment of green hydrogen in cement kilns is a novel but increasingly essential approach to mitigating climate impact, as the cement industry accounts for approximately 8% of global CO2 emissions, according to the International Energy Agency (IEA).

Dennis Schulz, CEO of ITM Power, commented on the milestone:

“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.”

The company noted that the shorter lead times for its NEPTUNE II containers will allow for expedited delivery, with revenue from the project expected to be recognised in the 2026 financial year (FY26).