ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has joined the newly formed Mediterranean Power-to-Gas platform (MP2G) which will develop projects based on the integration of both wind and solar PV for Power-to-Gas energy storage across the Mediterranean region.
The MP2G platform, managed by DNV KEMA, has been established to develop energy storage projects in the Mediterranean region for intermittent energy based on wind power and solar PV, whereas the North Sea Power-to-Gas platform (NSP2G) focuses on wind power in the North Sea region.
The list of members of the MP2G platform includes EDP (Portugal), REN (Portugal), Enagas (Spain), Gas Natural (Spain), GDF Suez (France), TIGF (France), Edison (Italy), Hydrogenics and SNAM (Italy).
ITM Power CEO, Graham Cooley, commented: “Power-to-Gas energy storage is the lowest cost long term energy storage technique and is being deployed all over Europe and we are delighted to be part of this new initiative.”
For further information please visit www.itm-power.com or contact:
ITM Power plc Graham Cooley, CEO 0114 244 5111
Zeus Capital (Nominated Adviser & Broker) Tim Metcalfe / John Goold 020 7533 7727
Tavistock Communications Simon Hudson 020 7920 3150
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: