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Hydropulse, the new build-own-operate subsidiary of Sheffield-based ITM Power plc, and ABO Energy, an international renewable energy developer, have entered into a strategic partnership.
It combines ABO Energy’s contacts to industrial offtakers, strong international development capabilities and selected pre-developed green hydrogen projects, with Hydropulse’s expertise in building and operating modular, containerised green hydrogen production plants based on ITM’s electrolyser technology.
Together, both companies aim to generate value by combining development expertise with capital investment in hydrogen assets.
ABO Energy and Hydropulse will develop decentralised hydrogen production units on or near end user sites.
This includes, among other things, permitting, electricity supply, engineering, construction and operation.
Hydropulse will build, own and operate the hydrogen production facilities, while ABO Energy will contribute on the power and development side.
This will enable industrial customers to access long-term reliable hydrogen supply without requiring upfront capital investment.
The collaboration will be anchored in Europe with a particular focus on Spain and Finland, where low power prices make green hydrogen production attractive.
Promising initial projects with an imminent customer need for green hydrogen have already been identified.
Dennis Schulz, CEO of ITM Power, which makes electrolysers to produce green hydrogen fuel, said: “This is about market traction.
“With ABO Energy’s access to sites and end users, we can realise projects faster and turn our technology into recurring revenues.
“Our modular approach, combined with ABO Energy’s project pipeline, creates a pragmatic route to help industry cut emissions. The partnership will also help us unlock new markets.”
Karsten Schlageter, managing director of ABO Energy, added: “It’s a breakthrough moment for many hydrogen projects.
“We can now offer our customers a one-stop solution from development to long-term operation without capital expenditure intensity.
“With Hydropulse on board, we can now offer our customers long-term reliable plant operation with a strong technology partner. This collaboration allows us to fast-track projects and deliver real value for industry.”
