ITM Power plc (LON:ITM) has won a £3.5mln contract for 3Mw of electrolysis in the UK with some associated hydrogen energy equipment.
The company currently has £21.8mlm of revenue under contract and £2.86mln in the final stages of negotiation, making a total pipeline of £24.7mln.
ITM Power specialises in electricity to hydrogen conversion technology.
By moving excess electricity generated from renewable sources and storing it as hydrogen gas, it creates a reliable and consistent energy source where other renewables tend to fall short.
Shares rose 3% to 18.38p.