ITM Power PLC (AIM:ITM) said a £46.5 million grant from the Department for Energy Security and Net Zero has been formally awarded, giving the electrolyser maker public-sector backing for its next-generation Chronos manufacturing line in Sheffield.
The grant, first announced in April, comes alongside a £40 million equity investment from Great British Energy. Together, the funding will support ITM’s plan to establish operational capability to manufacture the Chronos electrolyser stack, which the company said is designed to deliver better energy efficiency and lower costs.
ITM said the line will be built at its existing Sheffield facilities, using production processes developed through its Trident line. The company said this should reduce execution risk while creating a scalable, high-throughput platform.
The project centres on bespoke automated equipment needed for 1GW of annual production capacity, including catalyst-coated membrane production, electrode welding, specialist coating applications, stack assembly lines and cleanroom infrastructure.
Chief executive Dennis Schulz said the award “marks a pivotal step” in positioning ITM at the centre of the UK hydrogen economy. ITM designs and manufactures industrial-scale electrolysers for green hydrogen production.
