ITM Power acquires site for second factory

Firm intends to build a factory on the site capable of producing 1.5 GW/yr of electrolysers that it hopes to be fully operational by the end of 2023

UK electrolyser manufacturer ITM Power has acquired a site for its second factory in Tinsley, Sheffield. ITM intends to build a factory on the site capable of producing 1.5GW/yr of electrolysers that it hopes to be fully operational by the end of 2023. The site will be in addition to ITM’s 1GW/yr facility at nearby Bessemer Park, completed in January. The overall cost of the new Sheffield factory is expected to be £50-55mn ($68-74mn). In addition to the £13.4mn cost of the land, the company is allocating up to £16mn for the construction of the shell and £20-25mn for the equipment and power supply. Last month, the firm raised £250mn in equity financing to support the expansion of its manu

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