ITM Power Plc (LON:ITM) has revealed an expansion in Germany where its subsidiary has signed a lease on new larger premises to accommodate both business development staff and technical support personnel.
The company noted that the German unit has had a base in Frankfurt since incorporation in July 2011, and, it will now occupy new premises in Hungen, north of Frankfurt.
It will be the new base for the unit’s three existing members of staff as well as a number of new hires to support the company's growing operations in Germany.
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"The German-speaking market for hydrogen energy systems is already very strong with many new industrial players entering and actively engaging with ITM Power GmbH,” said Calum McConnell, managing director of ITM Power GmbH.
“Recognising this positive trend - and because we are building the world's largest PEM electrolyser in Germany - we now feel able to justify significant expansion. I am confident about our offering and its fit to the German market."
Group chief executive Graham Cooley, meanwhile, added: "Germany, as an early adopter of hydrogen systems, has for many years been an important market for ITM Power.
“Our scale of operations there, existing and planned, means we are now taking the natural step of adding technical staff alongside our business development team.
“With the upward trend in the market, the general acceptance across the political, energy and industrial landscape that hydrogen will play a significant role in reducing CO2 emissions, it is the obvious time to expand our footprint in a market that will remain key to our plans for growth."
Scaling up in Germany
The ITM Power GmbH business is involved with a number of key projects including a 10MW green hydrogen refinery project with Shell, a Power-to-Gas PEM electrolyser system being operated by Innogy, and an electrolyser system supplied to ZEAG Energie.
It also supports three other plants in Germany and Holland.
The new German site will, importantly, be a store of strategic spares and the creation of an after-sales support function.
Presently, the German business generates some €33,000 per annum from Maintenance Contracts though this is expected to increase to around €450,000 per annum as the new projects are commissioned.