Electrolysis tender opportunities up 34% since October: ITM Power

London — ITM Power's tender opportunity pipeline currently stands at GBP434 million ($592 million), up 34% since October 2020, the UK electrolysis company said Jan. 28 in a half-year results statement.

The figure refers to the total number of commercial tenders for which ITM Power has submitted firm bids for turnkey electrolysis projects, including balance of plant, over the last 12 months.

"The tender opportunity pipeline (TOP) continues to grow, highlighting the significant increase in the adoption of green hydrogen worldwide," it said.

Of the GBP434 million value, GBP284 million was attributable to ITM Power, representing 423 MW of potential awards, it said. The residual value relates to engineering, procurement and construction services provided by ITM's partner, Linde.

"ITM Power has worked closely with Linde to develop a joint bidding strategy appropriate both for the opportunities arising and for ITM Linde Electrolysis to bid," it said.

The company reported a loss from operations of GBP12 million for the six months to Oct. 31, 2020. Its order book of GBP124 million, comprising GBP36 million of contracted and GBP88 million of advanced-stage negotiations, was up from GBP42 million in a year-on-year comparison.

Recent highlights for the company include a project development partnership with Italy's Snam, with ITM the preferred supplier of a first 100 MW of PEM electrolysis capacity; a 24 MW order from Linde's Leuna refinery; collaboration with Orsted and Siemens Gamesa on the Eur5 million EU-funded Oyster project; and the start of production at the ITM Gigafactory at Bessemer Park, Sheffield.

"The completed move into the new 1 GW per annum electrolyser factory at Bessemer Park gives the company a powerful cost reduction trajectory and world beating manufacturing capacity for our record order book and pipeline," ITM CEO Graham Cooley said.