Both firms believe transport demand for hydrogen will soon grow
ITM forms JV with Vitol
New firm will own and operate eight hydrogen refuelling stations for heavy-duty transport
Electrolyser manufacturer ITM Power has created a joint venture with commodity trader Vitol called ITM Motive that will own all the UK public hydrogen refuelling stations built by the former. Both firms will invest up to £30mn ($39.6mn) in the venture, which will operate as a distinct entity with its own board comprising three directors from ITM Power and three from Vitol. ITM Motive has simultaneously entered into a framework agreement with ITM Power, under which the latter will be its preferred supplier for up to 240MW of electrolysis equipment to support the rollout of green hydrogen refuelling stations. ITM Motive has also appointed Vitol as its preferred supplier for up to 240MW of the
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Low-carbon hydrogen and ammonia development is advancing much more slowly and unevenly than once expected, with high costs and policy uncertainty thinning investment. Meanwhile, surging energy demand is reinforcing the role of natural gas and LNG as the backbone of the global energy system, panellists at LNG2026 said
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Norwegian energy company has dropped a major hydrogen project and paused its CCS expansion plans as demand fails to materialise
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Europe’s largest electrolyser manufacturers are losing patience with policymakers as sluggish growth in the green hydrogen sector undermines their decision to expand production capacity
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