ITM Power (AIM: ITM), the energy storage and clean fuel company, is delighted to announce its participation in the newly established ‘North Sea Power to Gas Platform’ to further develop the concept of Power-to-Gas (P2G) and draws investors’ attention to the following announcement released today by DVN KEMA the project coordinator:
“Eleven leading companies in Europe have joined forces in the newly established North Sea Power to Gas Platform to further develop the concept of Power-to-Gas (P2G): the conversion of renewable power into gas. P2G will play an increasingly important role in our future energy system, as it reduces temporal surpluses of renewable power by converting these surpluses into gases. As these gases can be used for different purposes such as transportation, domestic heating, as feedstock for the chemical industry, and power generation, the potential value of P2G is considerable.
“The establishment of the North Sea Power to Gas Platform is an important step in the transition towards a sustainable energy system”, says Lukas Grond, P2G expert at DNV KEMA and secretary of the Platform. “I am pleased that this group of reputed companies has joined forces to bring this technology a step further into the global energy market.” The Platform is an initiative of energy consulting and testing & certification company, DNV KEMA, and includes Fluxys Belgium and Hydrogenics (Belgium); Energinet.dk and Maersk Oil (Denmark); Alliander, Gasunie and TenneT (Netherlands); ITM Power and National Grid (UK); and Open Grid Europe (Germany).
The share of electricity from renewable sources in the European electricity mix is increasing. As the power generation from wind and solar fluctuates, the match between renewable power supply and demand is becoming more challenging. At the same time, there are additional challenges to transmit the increasing volumes of renewable power from wind or solar farms to end users. The gas infrastructure can accommodate large volumes of electricity converted into gas in case that the supply of renewable power is larger than the grid capacity or than the electricity demand. As a result, P2G enables the share of renewables in the energy mix to increase, making this innovation an important topic in achieving a carbon-neutral gas supply in 2050.
P2G is of particular interest for the North Sea area as its on- and off-shore natural gas infrastructure is well developed. In addition, the combined generating capacity of offshore wind farms on the North Sea could reach around 100 GW by the year 2030, while the PV capacity installed in the countries surrounding the North Sea is expected to increase from 35 GW in 2012 to almost 60 GW in 2020.
The North Sea Power to Gas Platform is a joint body, based on an integrated network of stakeholders, aiming to further develop the concept of P2G in the countries surrounding the North Sea. The Platform collaborates with the European Gas Research Group (GERG), the Mediterranean Power2Gas Platform (currently being established), as well as shipping companies, NGO’s, utilities, energy technology providers, Transmission System Operators and Distribution System Operators.”
For further information please contact: Rolf van Stenus Global Press Officer, DNV KEMA +31 26 356 2607 or email email@example.com.
DNV KEMA Energy & Sustainability, with more than 2,300 experts in over 30 countries around the world, is committed to driving the global transition toward a safe, reliable, efficient, and clean energy future. With a heritage of nearly 150 years, we specialize in providing world-class, innovative solutions in the fields of business & technical consultancy, testing, inspections & certification, risk management, and verification. As an objective and impartial knowledge-based company, we advise and support organizations along the energy value chain: producers, suppliers & end-users of energy, equipment manufacturers, as well as government bodies, corporations and non-governmental organizations. DNV KEMA Energy & Sustainability is part of DNV, a global provider of services for managing risk with more than 10,000 employees in over 100 countries. For more information on DNV KEMA Energy & Sustainability, visit www.dnvkema.com.
ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and raised its initial funding of £10m gross in its IPO. Further funding rounds of £28.5m in 2006 and £5.4m in 2012 have been completed. The Company has now made the transition from a research and development company to a product manufacturer and technology provider. The Company has both a strong base of intellectual property and engineering expertise for providing complete hydrogen solutions. The Company has been successful in developing strategic industry partnerships in the following projects:
For further information please visit www.itm-power.com or contact:
|ITM Power plc
Graham Cooley, CEO
|0114 244 5111|
|N+1 Singer (Nominated Adviser & Broker)
Shaun Dobson / Jenny Wyllie
|020 7496 3000|
Simon Hudson / Kelsey Traynor
|020 7920 3150|