ITM Power, an energy storage and clean fuel company, has announced an update on the progress of the 24 MW Leuna contract in Germany. As announced with the Half Year Results in January 2022, the company's expectation was that Factory Acceptance Testing (FAT) on all 12 modules would be concluded by late April, with some timing risk associated with the financial year-end on April 30, 2022.
The company has experienced a constraint in the local supply chain involving tooling for the scale-up of stack manufacture. As a consequence, now expects the majority of the modules to complete FAT in April. The not completed modules as of the April 30, 2022 year-end are expected to finalize FAT early in the new financial year.
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.
