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ITM Power PLC - South Yorkshire-based energy storage and clean fuel firm - Says 24 megawatt Leuna contract is delayed due to a local supply chain constraint involving tooling for the scale up of stack manufacture. ITM previously said Factory Acceptance Testing for all 12 modules would be completed by late April, but FAT completion for delayed modules is now expected in the new financial year, which starts in May.
‘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,’ ITM says.
Current stock price: 344.20 pence, down 3.9% on Wednesday
12-month change: down 26%
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