Sumitomo Corporation and ITM Power plc are entering a strategic partnership for the development of multi-megawatt projects in Japan based exclusively on ITM Power’s electrolyzer products.
Under the terms of the partnership agreement, ITM Power will supply multi-megawatt electrolyzer systems to Sumitomo for integration into wider projects on an exclusive basis in Japan and on a non-exclusive basis in other territories.
Sumitomo will introduce ITM Power’s products in Japan, including potential customer financing and will refer to ITM Power any electrolyzer projects which Sumitomo becomes aware of and considers to have the potential for collaboration between the partners outside Japan.
The partners will use their combined capabilities to: market, develop, finance and execute multi-megawatt hydrogen projects; jointly develop the value proposition and work up a number of strategic business cases for rollout, and; conduct exclusive feasibility studies for several projects in Australia.
ITM Power has deployed products in the UK, Europe and the US as well as the rest of the world, and currently has £40.3 million (US$53 million) of deal pipeline to be delivered, representing in excess of 14 MW of electrolysis, balance of plant and hydrogen storage.
This in turn builds on the 8 MW delivered in the fiscal year ending April 2018 and 2 MW in fiscal year ending April 2017, demonstrating a growing track record of deployments at the Megawatt scale.