Hydropulse is a new subsidiary of the British electrolyzer manufacturer ITM Power. Together with Abo Energy, the company intends to develop decentralized hydrogen production facilities at or near industrial end-user sites in Europe. Hydropulse follows a build-own-operate model. The company constructs, owns and operates the hydrogen plants. Abo Energy contributes its experience in project development as well as its network of potential off-takers for green hydrogen. The plants are to be based on ITM Power’s modular, containerized PEM electrolysis technology.
The partners aim to jointly cover the entire value chain – from power supply and permitting to engineering, construction and operation. This will enable industrial customers to access green hydrogen without having to invest themselves.
The initial focus is on projects in Spain and Finland. According to the companies’ press release, low electricity prices in these countries make green hydrogen production particularly cost-effective. The companies state that initial projects with short-term demand have already been identified. Dennis Schulz, CEO of ITM Power, explains: “By Abo Energy bringing in sites and end users, we can deliver projects faster and convert our technology into recurring revenues.” Karsten Schlageter, Managing Director of Abo Energy, adds: “We can now offer our customers a complete solution from development to long-term operation – and all without high capital expenditure.”
Abo Energy, based in Wiesbaden, develops wind, solar, storage and hydrogen projects. According to the company, it has a multi-gigawatt pipeline in the hydrogen sector. Hydropulse was founded by ITM Power, which specializes in PEM electrolyzers.
