ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has secured a second commercial contract from AMEC Foster Wheeler plc (“AMEC”) and National Grid plc (“National Grid”) to create the business case for widespread deployment of Power-to-Gas energy storage technology to reduce the energy losses in the gas network.
This second follow-on project will build on the Phase 1 Technical Feasibility and identify specific sites on the gas network where Power-to-Gas can be most advantageously deployed. This will reduce energy losses and increase system efficiency for the UK gas network. AMEC, a tier 1 supplier to National Grid will lead the project and continue to provide a third party assessment of the benefits.
Dr Graham Cooley, CEO of ITM Power commented: “ITM Power is delighted to be working with National Grid and AMEC on the next phase of this implementation. We are all very encouraged by the project findings so far and the objective now is to identify the sites best suited to installing Power-to-Gas equipment. We are solving a problem common with all gas networks and there is very significant market potential in the UK and worldwide.”