Key Findings
Hydropulse is developing a green hydrogen project in partnership with a leading European oil refinery. The facility will feature 150 MW of electrolysis capacity to produce green hydrogen on-site. The project is structured under a 10-year agreement, representing the largest commercial commitment for Hydropulse to date.
Technical Details
The project will utilize the Alpha electrolyser platform from ITM Power. To manage operational risks and costs, the project follows a specific division of responsibilities:
- Hydropulse: Responsible for building, owning, and operating the facility (BOO model).
- Customer: Provides the site and utilities, including power, which serves to mitigate Hydropulse’s exposure to electricity price volatility.
This structure is designed to generate long-term contracted and recurring revenues for ITM Power.
Background & Context
The project is currently in the joint Front End Engineering Design (FEED) study phase. Hydropulse is also engaged in constructive discussions with banks regarding project-level financing to ensure capital-efficient scaling.
Significance & Outlook
The project roadmap targets a Final Investment Decision (FID) in 2027, with the commencement of hydrogen production scheduled for 2029. According to CEO Dennis Schulz, the 150 MW scale and 10-year contract duration demonstrate the potential of the company’s BOO model. If definitive agreements are reached, the project will establish a material long-term contracted revenue stream for the Group.
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