ITM Power (AIM: ITM), the energy storage and clean fuel company, announces that Shell Research Limited (“Shell”) and National Grid plc have joined the Hydrogen Gas Inject feasibility study part funded by the Technology Strategy Board under its Smart Power Distribution and Demand competition.
The ITM Power lead project aims to investigate the technical, financial and operational feasibility of injecting hydrogen gas, generated from electrolysis fed from excess renewables, into the UK gas networks. The project includes preliminary logistical research, system research, creation of a generation model and the simulation of hydrogen production at a single wind farm.
Dr Graham Cooley, CEO at ITM Power, commented: “Having both Shell and National Grid plc contributing to this project will provide a significant level of industry expertise and we are delighted to be working with these highly respected organisations.”
For further information please visit www.itm-power.com or contact:
ITM Power plc
Graham Cooley, CEO
0114 244 5111
Singer Capital Markets Limited
(Nominated Adviser & Broker)
020 3205 7500
Shaun Dobson / Samantha New
020 7920 3150
Simon Hudson / Kelsey Traynor
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. A further funding round of £28.5m was completed in 2006. 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:
Shell is a global group of energy and petrochemicals companies with around 90,000 employees in more than 80 countries and territories.
National Grid is an international electricity and gas company and one of the largest investor-owned energy companies in the world. We play a vital role in providing energy to millions of customers across Great Britain and the Northeast US in an efficient, reliable and safe manner.