Hydropulse GmbH, the newly launched green hydrogen project from ITM Power Plc along with the German renewable’s developer ABO Energy, is going to invest their expertise and together roll out certain decentralized newly launched green hydrogen production units either on or near the end industrial user sites across Europe.
As per the agreement, Hydropulse is going to build its own and also operate the modular containerized hydrogen plants, which would be based on the electrolyzer technology from ITM, whereas ABO Energy is going to share its contacts to the industrial off-takers, development capabilities, and selected newly launched green hydrogen project that is pre-developed.
The collaboration is going to look out to offer hydrogen-as-a-service as well as infrastructure-as-a-service throughout the value chain, and it is going to be especially focused on Spain as well as Finland.
According to Dennis Schulz, the chief executive of ITM Power, this is all about market traction. Because of access of ABO Energy to sites as well as the end users, they can go ahead and realize projects much faster and also turn their technology into revenues that are recurring.
Established in 1996, ABO Energy has gone on to build a multi-gigawatt hydrogen apart from its portfolio of over 30 GW in development that is spread across wind, solar, and battery. The company has already gone on to roll out 6.6 GW in terms of renewable energy capacity as of date.
As per the managing director of ABO Energy, Karsten Schlageter, they can now go ahead and offer their customers a one-stop solution right from development to long-term operation without the use of intensity on capex. He added that many of their existing projects have already gone on to get developed at a stage where they can move at a brisk pace when the off-take gets committed.