Shares in ITM Power PLC (AIM:ITM) surged 18% in early trading on Monday after the company announced it had been selected to supply more than 300MW of electrolysers for a major green hydrogen project in the Asia-Pacific region.
The UK-based clean energy firm said it had signed an agreement with a customer, who has not yet been named, confirming its role in the project, which aims to produce hydrogen for use in power generation and reduce carbon emissions.
The scheme has secured funding approval from local authorities but remains subject to a final investment decision.
ITM said it will now support the customer on engineering, permitting and integration work to move the project towards that milestone.
The shares rose 6.44p to 42.24p.