ITM Power (AIM: ITM), the energy storage and clean fuel company, announces an update for investors as to progress on the 24 MW Leuna contract. As announced with the Half Year Results in January 2022, the Company’s expectation was that Factory Acceptance Testing (FAT) on all 12 modules would be concluded by late April, with some timing risk associated with the financial year end on 30 April 2022.

The Company has experienced a constraint in the local supply chain involving tooling for the scale up of stack manufacture and as a consequence, now expects the majority, but not all 12, of the modules to complete FAT in April. The balance of modules not complete as at the 30 April 2022 year end are expected to complete FAT early in the new financial year.

A longer term solution for this supply chain constraint has already been defined and implemented, the benefit of which will be felt in the new financial year.

A further update will be made in due course.

In the film below ITM Power CEO Graham Cooley provides an outline of ITM Power’s business and the future for the renewable energy sector