Energy storage and clean fuel company ITM Power has established a new subsidiary in Australia to develop the market for its rapid response electrolyser technology in the country.
Dr. Neil Thompson has been appointed Managing Director of the newly-formed company, called ITM Power Pty Ltd. In a press release, ITM Power said Thompson is an experienced Executive Director who prior to joining the company was Managing Director/Principal Risk Mitigation Consultant at Pine River Business Planning as a Member of the Institute of Management Consultants servicing the consulting engineering and clean technology sectors.
ITM Power’s CEO, Dr. Graham Cooley, said, “Australia is an exciting new market for green hydrogen (H2) production and we are delighted to make this important first step to allow ITM Power to capitalise on the significant growth opportunities and accelerating momentum in the H2 sector in Australia.
Thompson added, “I have been collaborating with ITM Power to develop a market entry strategy for Australia for a number of months, having first interacted with the company 10 years ago. I am therefore delighted to be appointed as Managing Director of the newly-formed Australian subsidiary and I look forward to developing the business in this exciting new market.”
Elsewhere, the company currently has £31.2m of projects under contract and a further £10.5m of contracts in the final stages of negotiation constituting a total of £41.7m (across all geographies), subject to exchange rate variations.
The company is also now a member of Hydrogen Mobility Australia.