June 2016

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the sale of an integrated hydrogen refuelling station (HRS) with on-site generation to Hydrogène de France (HDF), for deployment in France.  The contract is worth €1.5m to ITM Power before follow-on contracts such as maintenance agreements.  The electrolyser HRS selection was based on HDF's usual competitive tender process.  The station is targeted to serve both local captive fleets of Fuel Cell Range Extender-Electric Vehicle vans with a 350bar refueling technology and Fuel Cell Electric Vehicle with 700bar refueling technology.

HDF acts as an operator of hydrogen energy to exploit the potential of hydrogen as a fuel and deploys hydrogen refuelling assets in France to prepare for future large scale deployments of fuel cell vehicles and buses.  This is part of the H2 Mobilité France consortium strategy to create and then interlink regional HRS clusters across France.  HDF will be responsible for the purchase, installation, operation and maintenance of the station, as well as the preparation of the HRS site.

The HRS will be commissioned mid-2017.  The electrolyser HRS will be partly funded by the European Union as part of the H2ME2, EU FCH JU funded project.  As part of this project, HDF will be able to test the operation of the electrolyser in a live market to provide grid balancing services.

Dr Graham Cooley, CEO, ITM Power commented: "We are delighted to be working with HDF on this important sale for ITM Power.  France is becoming a leader in the development of hydrogen mobility infrastructure and we look forward to further sales."

Damien Havard, CEO, HDF commented: "ITM Power's skills in systems management were essential in our choice. This equipment is not only the first step in our deployment of hydrogen mobility but also a key component in our offer of grid balancing services."

ITM Power plc

Graham Cooley, CEO

+44 (0)114 244 5111

Zeus Capital

Dan Bate / Andrew Jones / Hugh Kingsmill Moore / Alex Davies

+44 (0)20 3829 5000

Tavistock

Simon Hudson / James Collins

+44 (0)20 7920 3150


About ITM Power plc:
ITM Power manufactures integrated hydrogen energy solutions which are rapid response and high pressure that meet the requirements for grid balancing and energy storage services, and for the production of clean fuel for transport, renewable heat and chemicals.  ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and is a founder member of the Social Stock Exchange. The company received £4.9m as a strategic investment from JCB in March 2015; signed a forecourt siting agreement with Shell in September 2015 and a fuel agreement with Toyota in October 2015. The Company currently has £20.44m of projects under contract and a further £0.02m of contracts in the final stages of negotiation constituting a total pipeline of £20.46m which is subject to exchange rate variation.

www.itm-power.com

About Hydrogène de France (HDF)
Hydrogène de France (HDF) was established in 2012 by Immosun Solutions, a company with expertise in renewable energy. Today, HDF is an hydrogen energy operator which. It exploits the potential of hydrogen as a fuel as well as provides solution for mass storage energy. HDF offers a comprehensive storage system to grid regulation, project engineering and deployment skills to hydrogen projects. HDF is a member of AFHYPAC, the French association of hydrogen and fuel cells, and a member of Nouvelle France Industrielle, the French grouping to provide the roadmap for future industry in France. Since 2012, HDF has been working on the ClearGen Demo project, supported by the FCH-JU,to implement a large stationary fuel cell of 1 MW using by-product hydrogen. . HDF is also involved in the relaunch of Solvay's fuel cell of 1MW reflecting HDF's skills on the high power energy market.

www.hdf-energie.com

About the FCH JU
The Fuel Cells and Hydrogen Joint Undertaking (FCH JU) is a unique public private partnership supporting research, technological development and demonstration activities in fuel cell and hydrogen energy technologies in Europe. Its aim is to accelerate the market introduction of these technologies, realising their potential as an instrument in achieving a carbon-lean energy system.

The three members of the FCH JU are the European Commission, fuel cell and hydrogen industries represented by the NEW Industry Grouping and the research community represented by Research Grouping N.ERGHY.

The FCH JU awarded the H2ME 2 project under grant agreement number 700350 

About H2ME 2
This €100 million demonstration project is co-funded with €35 million from the Fuel Cells and Hydrogen Joint Undertaking (FCH JU), a public private partnership supporting fuel cell and hydrogen energy technologies in Europe.

Partners include project lead Element Energy, alongside AGA, Air Liquide Advanced Business, Air Liquide Advanced Technologies, AREVA H2GEN, Audi, BMW, Cenex, City of Copenhagen (Kobenhavns Kommune), Communaute Urbaine Du Grand Nancy, CNR, Daimler, EIFER, GNVERT, H2 Logic, H2 Mobility Deutschland, Honda, Hydrogene de France, HYOP, hySOLUTIONS, Icelandic New Energy Ltd, Intelligent Energy, Islenska Vetnisfelagid (H2 Iceland), ITM Power, McPhy Energy, Michelin, Netherlands Ministry of Infrastructure and the Environment (Ministerie Van Infrastrutuur en Milieu), Nissan, OPEN ENERGI, Renault, Renault Trucks, SEMITAN, Stedin, STEP, Symbio FCell, The Danish Partnership for Hydrogen and Fuel Cells (Partnerskab for brint of braensdels cellar), The University of Manchester.

Published in News
Friday, 24 June 2016 08:04

Update on pipeline for ITM Power

ITM Power (AIM: ITM), the energy storage and clean fuel company, reports on the potential impact of the Brexit decision on upcoming pipeline, and seeks to reassure investors over existing forecasts in the market.

To reflect the increased risk associated with items in the final stages of negotiation and not yet contracted, ITM Power has revised its pipeline figure, removing £3.47m from the items in the final stages of negotiation. This means that the Company currently has £17.67m of projects under contract and a further £1.18m of contracts in the final stages of negotiation constituting a total pipeline of £18.85m.

The resultant reduction in pipeline is not expected to impact the Company's expectations for the year ending 30 April 2017.

ITM Power also note that the pipeline is reliant on deals placed in currencies other than £GBP, and that greater currency volatility could impact the contract pipeline in the near term.

ITM Power plc

Graham Cooley, CEO

+44 (0)114 244 5111

Zeus Capital

Dan Bate / Andrew Jones / Hugh Kingsmill Moore / Alex Davies

+44 (0)20 3829 5000

Tavistock

Simon Hudson / James Collins

+44 (0)20 7920 3150


About ITM Power plc:
ITM Power manufactures integrated hydrogen energy solutions which are rapid response and high pressure that meet the requirements for grid balancing and energy storage services, and for the production of clean fuel for transport, renewable heat and chemicals.  ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and is a founder member of the Social Stock Exchange. The company received £4.9m as a strategic investment from JCB in March 2015; signed a forecourt siting agreement with Shell in September 2015 and a fuel agreement with Toyota in October 2015. The Company currently has £17.67m of projects under contract and a further £1.18m of contracts in the final stages of negotiation constituting a total pipeline of £18.85m.

www.itm-power.com

Published in News

€35m H2ME2 European Hydrogen Refuelling Station deployment

Deployment of 1,195 hydrogen vehicles, trebling the existing European fleet

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce a €35m project for the Hydrogen Mobility Europe 2 (H2ME2) programme funded by the Fuel Cells and Hydrogen Joint Undertaking (FCH JU) under Horizon 2020. ITM Power will receive €5.06m from the project and will deploy three new dual pressure Hydrogen Refuelling Station (HRS) assets to expand the national refuelling network in the UK. The following announcement was made by the European project office today:

Europe prepares to expand hydrogen refuelling infrastructure network and vehicle fleet

An ambitious multi-country, multi-partner project will demonstrate that hydrogen can support Europe's future transport demands

Brussels, 14 June 2016 - Today sees the launch of a second pan-European deployment of hydrogen refuelling infrastructure, and passenger and commercial fuel cell electric vehicles.  The six-year H2ME 2 project brings together 37 partners from across Europe.  It will include the deployment and operation of 1,230 fuel cell vehicles, the addition of 20 extra hydrogen-refuelling stations (HRS) to the European network and will test the ability of electrolyser-HRS to help balance the electrical grid.  The project has been developed under the auspices of the Hydrogen Mobility Europe (H2ME) initiative and supported by the Fuel Cells and Hydrogen Joint Undertaking (FCH JU) with funding from the European Union Horizon 2020 programme.

The H2ME 2 project takes its name from Hydrogen Mobility Europe (H2ME), a collaboration between national H2 Mobility initiatives from across Europe which aims to coordinate European activities and helps support the early roll-out of hydrogen vehicles across Europe. The H2ME 2 project will complement and build on a first FCH JU-funded project developed by H2ME partners, H2ME 1 (www.H2ME.eu), which was announced in September 2015, with plans for 300 fuel cell vehicles and 29 HRS. Together, the H2ME projects will form the largest EU funded project for hydrogen mobility and FCEV deployment.

The €100 million H2ME 2 project, funded with a further €35 million grant from the FCH JU, will significantly expand the European hydrogen vehicles fleet and in so doing, aims to confirm the technical and commercial readiness of vehicles, fuelling stations and hydrogen production techniques.  H2ME 2 will produce recommendations and identify any gaps that may prevent full commercialisation, as well as collating results to support future investments.  Together the H2ME 1 and H2ME 2 projects demonstrate the breadth and depth of the commitment to hydrogen-fuelled road transport as a pan-European solution to the need to have viable, competitive, alternatives to fossil fuels.

"Today marks a significant day in the future of European transport," said Ben Madden, Director, Element Energy and project coordinator for H2ME 1 and H2ME 2. "Our aim has been to help bring the key businesses and public bodies investing in hydrogen mobility in Europe together to work on the common goal of making hydrogen-fuelled transport a reality in Europe."

Madden continued; "Hydrogen Mobility Europe will demonstrate the use of hydrogen in the hands of a wide range of vehicle drivers from across Europe all of whom value the long range, low carbon and low emission driving offered by the technology. Understanding these customers will allow the sector to plan for the accelerated deployment of this important technology."

Commenting on the award of grant funding, Bart Biebuyck, Executive Director of the FCH JU said; "Fuel Cell and Hydrogen (FCH) technologies hold great promise as a means of enabling the transport sector to meet energy, environmental and economic challenges. Vehicles fuelled by hydrogen, a gas that can be produced from a range of renewable energy sources, offer a promising means by which to achieve strategic goals with minimal impact on the driver in terms of vehicle and refuelling functionality and convenience. The FCH JU is committed to addressing the remaining bottlenecks in market deployment of hydrogen fuelling technologies. We're bringing together automotive and H2 infrastructure companies, as well as a significant number of European countries to set up an H2-friendly environment. The benefits of gathering public and private partners together in projects such as H2ME 1 and H2ME 2 are evident. The FHC JU  is pleased to see H2ME 2 bringing together activities across eight European countries to address the deployment required to make hydrogen mobility truly ready to deliver against sustainability goals for Europe. We welcome the leadership shown by the industry and municipal partners under the H2ME banner and believe the two H2ME projects will play a key role in informing policy makers and the wider stakeholder community of the business case for fuel cells and hydrogen."

Speaking on behalf of the French H2Mobility partners, Fabio Ferrari coordinator of the French consortium and CEO of Symbio FCell, said; "This second H2ME project extends the scope of the first project by adding additional hydrogen refuelling stations in new strategic locations. It will demonstrate the link between hydrogen production and services to the energy networks. New French hydrogen refuelling stations are currently planned in the Rhône-Alps Green Hydrogen Corridor, as well as in Bordeaux, Nancy, Nantes and Paris.  The project will result in a large deployment of utility vehicle fleets. These fleets are made up of light vans, small trucks, as well as a taxi fleet of 60 full fuel cell powered vehicles in the Greater Paris Area."

Nikolas Iwan, Managing Director of the Joint Venture H2 MOBILITY Deutschland GmbH & Co. KG and coordinator for the German activities under H2ME, said; "If Fuel Cell Cars are to become a well-established product and with them the use of hydrogen as a fuel, the availability of infrastructure for refuelling is key. It is very important that infrastructure companies and car-manufacturers exchange information, to minimise the risk and focus the expertise around standardisation and network planning to make the most out of the provided funds by governments. We very much appreciate the expanded efforts taken in H2ME 2 and welcome the new partners. With the next phase of the programme, we are taking the next big step towards a competitive hydrogen offer for private customers!"

Anna Margret Korneliusdottir, from Icelandic New Energy, spokesperson for the partners from Denmark, Iceland, Norway and Sweden, said "The commitment of Scandinavian countries to harnessing renewable energy is well documented.  Hydrogen has a key role to play in this commitment.  With the support of the Scandinavian Hydrogen Highway Partnership, the H2ME 2 project will add seven HRS to our network and more than 45 fuel cell vehicles, further demonstrating the reliability and environmental benefits of hydrogen and allowing transnational driving within the region."

Dr Rachel Smith, Executive Director, ITM Power UK Hydrogen infrastructure provider and lead for the UK activities within the H2ME 2 project said; "We are very excited about the role the project will play in deploying hydrogen refuelling infrastructure, passenger and commercial fuel cell electric vehicles in the UK and demonstrating the system benefits generated by using electrolytic hydrogen solutions in UK grid operations."

Patrice Pawiroredjo, Senior Project Manager at Stedin Dientsten BV, speaking on behalf of Dutch coalition partners, said; "The potential for hydrogen to play a significant role in transitioning to renewable energy sources is now recognised. As part of a group of companies that includes a distribution system operator (DSO) we think electrolysis can provide flexibility in our power grid and support hydrogen mobility.  We will be working closely with the Ministry of Infrastructure and Environment to engage all relevant stakeholders in deploying hydrogen fuel cell vehicles and developing new hydrogen refuelling stations."

For further information, please visit www.itm-power.com or contact:

ITM Power plc

Graham Cooley, CEO

 

+44 (0)114 244 5111

Zeus Capital

Dan Bate / Andrew Jones / Hugh Kingsmill Moore

 

+44 (0)20 3829 5000

Tavistock Communications

Simon Hudson / James Collins

+44 (0)20 7920 3150


About ITM Power plc:
ITM Power manufactures integrated hydrogen energy solutions which are rapid response and high pressure that meet the requirements for grid balancing and energy storage services, and for the production of clean fuel for transport, renewable heat and chemicals.  ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and is a founder member of the Social Stock Exchange. The company received £4.9m as a strategic investment from JCB in March 2015; signed a forecourt siting agreement with Shell in September 2015 and a fuel agreement with Toyota in October 2015.  The Company currently has £18.10m of projects under contract and a further £4.68m of contracts in the final stages of negotiation constituting a total pipeline of £22.78m which is subject to exchange rate variation.

www.itm-power.com

About H2ME 2
This €100 million demonstration project is co-funded with €35 million from the Fuel Cells and Hydrogen Joint Undertaking (FCH JU), a public private partnership supporting fuel cell and hydrogen energy technologies in Europe.

Partners include project lead Element Energy, alongside AGA, Air Liquide Advanced Business, Air Liquide Advanced Technologies, AREVA H2GEN, Audi, BMW, Cenex, City of Copenhagen (Kobenhavns Kommune), Communaute Urbaine Du Grand Nancy, CNR, Daimler, EIFER, GNVERT, H2 Logic, H2 Mobility Deutschland, Honda, Hydrogene de France, HYOP, hySOLUTIONS, Icelandic New Energy Ltd, Intelligent Energy, Islenska Vetnisfelagid (H2 Iceland), ITM Power, McPhy Energy, Michelin, Netherlands Ministry of Infrastructure and the Environment (Ministerie Van Infrastrutuur en Milieu), Nissan, OPEN ENERGI, Renault, Renault Trucks, SEMITAN, Stedin, STEP, Symbio FCell, The Danish Partnership for Hydrogen and Fuel Cells (Partnerskab for brint of braensdels cellar), The University of Manchester.

About H2ME1
This €68 million demonstration project is co-funded with €32 million from the Fuel Cells and Hydrogen Joint Undertaking (FCH JU), a public private partnership supporting fuel cell and hydrogen energy technologies in Europe.

Partners include project lead Element Energy, alongside AGA, Air Liquide Advanced Business, Air Liquide Advanced Technologies, AREVA H2GEN, BMW, BOC, Cenex,  Communauté d'Agglomération Sarreguemines Confluences, Daimler, Danish Hydrogen Fuel, EIFER, Falkenberg Energi, H2 Logic, H2 Mobility Deutschland, Honda, HYOP, Hyundai, Icelandic New Energy, Intelligent Energy, ITM Power, Linde AG, McPhy Energy, Nissan, OMV, Renault, Symbio FCell, WaterstofNet.

About the FCH JU
The Fuel Cells and Hydrogen Joint Undertaking (FCH JU) is a unique public private partnership supporting research, technological development and demonstration activities in fuel cell and hydrogen energy technologies in Europe. Its aim is to accelerate the market introduction of these technologies, realising their potential as an instrument in achieving a carbon-lean energy system.

The three members of the FCH JU are the European Commission, fuel cell and hydrogen industries represented by the NEW Industry Grouping and the research community represented by Research Grouping N.ERGHY.

The FCH JU awarded the H2ME 2 project under grant agreement number 700350 and the earlier H2ME 1 project under grant agreement number 671438.

About Element Energy
Element Energy is a leading low carbon energy consultancy working in a range of sectors including low carbon transport, low carbon buildings, renewable power generation, carbon capture and storage, energy networks, and energy storage. Element Energy works with a broad range of private and public sector clients to address challenges across the low carbon energy sector and has been instrumental in establishing and delivering many of the FCH JU projects in the transport sector.

Published in News

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to draw attention to the announcement made by the Thüga group in Germany regarding the operational performance of the ITM Power Power-to-Gas plant purchased by them two years ago.

A full translation of the press release is provided below, the key points of which are summarised here:

·     Primary grid balancing: the plant successfully concluded tests for primary grid balancing  

·     Economic operation: higher revenues accessible from primary grid balancing

·     Smart Grid compatible: operating as part of a virtual network via a real time control unit

·     Continues to exceed expectations: over two years of rigorous testing

Thüga Group: Power-to-Gas technology also suitable for primary balancing energy market

"Our tests have shown that the power-to-gas technology is able to provide primary balancing services," Michael Riechel, CEO of Thüga Aktiengesellschaft said. In May this year the Thüga Group successfully subject its power-to-Gas plant in Frankfurt to the prequalification profile for primary balancing - the so-called "duel bump test". The plant was tested to see if it meets the dynamic response requirements and accuracy for primary energy market balancing.

In order to take part in the primary balancing market the entire load being offered must be reached within 30 seconds and be continuously available for at least 15 minutes. The system was programmed and operated according to a load profile in single second resolution that reflects the frequency fluctuations in a real electricity distribution network. This operation simulated practical conditions in order to compensate for frequency variations in the electrical grid. "These findings show that the power-to-gas plant could be operated economically, since the potential revenues for primary balancing are higher," Riechel said. The plant was prequalified for secondary balancing in 2015.

Two years of operation has yielded important insights for power-to-gas

Riechel commented: "In the two years since starting up our power-to-gas plant, we have demonstrated the practicality of this technology". In 2013 Thüga's power to gas-plant was the first nationwide to use electrolysis to convert electricity into hydrogen and feed this into the gas distribution network. This deployment of PEM (proton exchange membrane) electrolysis within a power-to-gas application was also a novel use of a PEM electrolyser: According to Phil Doran, the Managing Director of ITM Power GmbH, the manufacturer of the system "It was the world's first of its kind, in which the technology has been put to use". A comprehensive stress test undertaken last year verified the system's efficiency of over 70 percent (based on the higher heating value). Thus, the plant has exceeded the expectations of the 13 project partners of the Thüga Group. Moreover, the plant is smart-grid compatible: With the help of a newly developed real-time control unit, working within a virtual network connecting other plant, the system intelligently modulated the differences between electricity generation and consumption. This capability is essential for the deployment of power-to-gas technology in storing large volumes of energy, as the technology serves its purpose only when it responds automatically to constantly changing conditions in the production and consumption of energy. In the energy sector itself, the plant has met with keen interest and acclaim. In 2015 the Association of Municipal Companies (VKU) presented the Thüga project partners with the Special Award for Cooperation. The jury particularly honoured the pioneering nature of the plant.  "It represents a role model for the energy sector, as the project partners have already demonstrated the integration of power-to-gas technology in municipal distribution networks and supports the creation of economic and political framework conditions," said Ivo Gönner, VKU President.

The Power-to-Gas Project platform:
13 Thüga Group companies have pooled their know-how and capital in a project platform to jointly invest in the development of power-to-gas storage technology. The focus is on testing the practicality of the technology. The companies are convinced that this has the greatest potential long term to store excess volumes of renewable energy. To this end, the companies have jointly developed, built and operated their own demonstration plant for several years (2012 - 2016) in Frankfurt. The plant converts power into hydrogen, which is then stored in the gas distribution network. In total, they will invest over €1.5m. The project is funded by the Hessian Ministry of Economics, Energy, Transport and Regional Development and the European Union. Following the first phase, the project partners are considering a second project, in which carbon dioxide will be combined with hydrogen to form synthetic methane and be subsequently stored.

See www.szg-energiespeicher.de - link to Thüga Group announcement (in German)

For further information please visit www.itm-power.com or contact:

ITM Power plc

Graham Cooley, CEO

+44 (0)114 244 5111

Zeus Capital

Dan Bate / Andrew Jones / Hugh Kingsmill Moore

+44 (0)20 3829 5000

Tavistock Communications

Simon Hudson / James Collins

+44 (0)20 7920 3150


About ITM Power plc
ITM Power manufactures integrated hydrogen energy solutions which are rapid response and high pressure that meet the requirements for grid balancing and energy storage services, and for the production of clean fuel for transport, renewable heat and chemicals.  ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and is a founder member of the Social Stock Exchange. The company received £4.9m as a strategic investment from JCB in March 2015; signed a forecourt siting agreement with Shell in September 2015 and a fuel agreement with Toyota in October 2015. The Company currently has £14.11m of projects under contract and a further £8.67m of contracts in the final stages of negotiation constituting a total pipeline of £22.78m which is subject to exchange rate variation.

www.itm-power.com

About the Thüga Group:
The Thüga Aktiengesellschaft (Thüga) is a holding company providing expert services anchored in local communities. Thüga holds minority positions in around 100 local energy and water management companies across Germany. The respective majority shareholders are cities and local authorities. Being convinced that cooperation generates added value, together with its partners, Thüga constitutes the largest municipal association of German local and regional energy and water companies - the Thüga Group. The mutual objective is to shape the future of municipal gas and water supplies. Roles are clearly defined within the Association. Thüga is responsible for business development: Expansion and development of the investment portfolio, increasing the profitability of the investment portfolio by offering consulting services and through the further development of cooperation platforms offering competitive services. The approximate 100 partners are responsible for active marketing with their local and regional brands: In total 17,100 employees supply electricity to 4.0 million customers nationwide, 2.0 million customers with natural gas and 0.9 million customers with drinking water. 2015 they have thereby achieved a turnover of 19.8 billion euros.

Published in News

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ITM Power is a public limited company registered in England and Wales. Company Number 05059407