April 2020
Thursday, 30 April 2020 08:27

Funding Award to Supply an 8MW Electrolyser

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce it has signed an agreement to supply an 8MW electrolyser in the UK.  The agreement, including associated project costs, has a total value of £10m and funding will fall across FY2021 and FY2022.  Further details will be announced in due course. 
 
For further information please visit www.itm-power.com or contact:
 

ITM Power plc

Andy Allen, Finance Director

+44 (0)114 244 5111

Investec Bank plc (Nominated Adviser and Broker)

Chris Sim / Jeremy Ellis / Ben Griffiths

+44 (0)20 7597 5970

Tavistock (Financial PR and IR)

Simon Hudson / Edward Lee / Barney Hayward

+44 (0)20 7920 3150


About ITM Power plc
ITM Power plc manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of renewable hydrogen for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004.  In October 2019, the Company announced the completion of a £58.8 million fundraise, including a subscription by Linde of £38 million, together with the formation of a joint-venture with Linde to focus on delivering renewable hydrogen to large scale industrial projects worldwide.  ITM Power signed a forecourt siting agreement with Shell for hydrogen refuelling stations in September 2015, (which was extended in May 2019 to include buses, trucks, trains and ships) and in January 2018 a deal to deploy a 10MW electrolyser at Shell’s Rhineland refinery. ITM Power announced the lease of the world’s largest electrolyser factory in Sheffield with a capacity of 1GW (1,000MW) per annum in July 2019. Customers and partners include Sumitomo, Ørsted, Phillips 66, National Grid, Cadent, Northern Gas Networks, Gasunie, RWE, Engie, BOC Linde, Toyota, Honda, Hyundai and Anglo American among others. www.itm-power.com
 

Published in News

ITM Power, the clean fuel and energy storage company, is proud to be continuing to play a part in the support of key workers during the COVID-19 pandemic. These customers include the FCEV Metropolitan Police vehicles used for policing activities in London and Green Tomato Cars, who are helping to get key workers where they need to be. Both the MET Police and Green Tomato Car drivers are continuing to use the Company’s hydrogen refuelling stations in and around the London area in Teddington, Cobham on the M25, Beaconsfield on the M40 and Rainham. Each three minute car refuel provides a range of up to 400 miles.

ITM Power electrolysers generate hydrogen fuel on-site, using renewable electricity and water with the fuel dispensed at the station where it is generated. This means a zero carbon footprint and no use of further transport infrastructure which is under pressure in the current situation. An additional benefit of hydrogen is its role in supporting the drive for cleaner air, especially important in high population cities. When hydrogen fuel cell electric vehicles are driven, the only emission is water vapour.

Dr Graham Cooley, CEO, ITM Power, said: “We should all recognise the contribution made by the UK’s key workers who are keeping the country running in these difficult times. Keeping our hydrogen refuelling stations open means that we can play our part in helping them continue to work, for the benefit of all UK citizens.”

Jiggs Bharij, Head of Fleet Services, Metropolitan Police, added: “Fulfilling our duties during the coronavirus lockdown does not mean that we should abandon our commitments to lowering carbon emissions. We salute all those key workers who are keeping us all going.”

Jonny Goldstone, Founder, Green Tomato Cars, said: “Thanks to the reliability and range of our zero emission fleet of fuel cell electric vehicles, we can get people where they need to be to keep us all safe and well, and, at the same time, help provide London with cleaner air to breathe. And we couldn’t be more proud of all our drivers, who are going the extra mile every single day as part of the capital’s efforts against Covid-19 – we normally call them our Zero Emission Heroes, but now they’re being doubly heroic!”

Jon Hunt, Manager Alternative Fuels, Toyota GB, said: “We are delighted that ITM Power has taken the decision to keep its refuelling infrastructure operational during this important time allowing the emergency services and other UK key workers to continue to use the zero emission Toyota Mirai in confidence despite the difficult circumstances.”

Sylvie Childs, Nexo Product Manager, Hyundai Motor UK, said: “In these difficult times, it is our responsibility to do what we can to support our key workforce. This move by ITM ensures that zero emission hydrogen cars can continue to operate as normal ensuring key workers mobility and additional improvements in air quality.”

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

 About ITM Power plc:

ITM Power plc manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of renewable hydrogen for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004.  In October 2019, the Company announced the completion of a £58.8 million fundraise, including a subscription by Linde of £38 million, together with the formation of a joint-venture with Linde to focus on delivering renewable hydrogen to large scale industrial projects worldwide.  ITM Power signed a forecourt siting agreement with Shell for hydrogen refuelling stations in September 2015, (which was extended in May 2019 to include buses, trucks, trains and ships) and in January 2018 a deal to deploy a 10MW electrolyser at Shell’s Rhineland refinery. ITM Power announced the lease of the world’s largest electrolyser factory in Sheffield with a capacity of 1GW (1,000MW) per annum in July 2019. Customers and partners include Sumitomo, Ørsted, Phillips 66, National Grid, Cadent, Northern Gas Networks, Gasunie, RWE, Engie, BOC Linde, Toyota, Honda, Hyundai and Anglo American among others.

 

-ends-

Published in News

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has won, with partner Element Energy, a first stage deployment project in the UK Government’s Industrial Strategy Challenge Fund competition “Decarbonisation of Industrial Clusters” to assess the feasibility and scope of deploying green hydrogen with some major industrial partners in Humberside.

“Green Hydrogen for Humberside” will lead to the production of renewable hydrogen at the Gigawatt (GW) scale distributed to a mix of industrial energy users in Immingham, Humberside. Decarbonisation of this cluster is critical in reaching the UK’s legally binding 2050 net zero emission targets. Humberside, the UK’s largest cluster by industrial emissions, (12.4Mt of CO2 per year), contributes £18bn to the national economy each year and has access to a large renewable resource from offshore wind in the North Sea.

The project will work with customers in the region to establish the feasibility of switching to renewable hydrogen and justify a number of 100MW deployments of electrolysers. The project will cost the supply of hydrogen to these end users. This includes the electricity supply to the electrolyser, the hydrogen production facility, hydrogen distribution across the Humber and conversion of existing processes to use renewable hydrogen.

“Green Hydrogen for Humberside” will be an important part of the decarbonisation vision for the region by enabling both an early bulk scale supply of zero carbon fuel and the subsequent expansion of supply via a progression in electrolyser capacity out to 2040. The region is divided into a Northern and Southern cluster. Immingham, the Southern cluster, is the most carbon intensive and has access to renewable electricity from GW scale offshore windfarms which comes ashore in the region. Long-term, there is an opportunity to build several tens of GWs of wind power solely to generate green hydrogen offshore. This makes Immingham an attractive location for the production of low-cost renewable hydrogen for industrial decarbonisation as part of the wider Zero Carbon Humber roadmap.

Since there are no emissions associated with the production of renewable hydrogen, the emission saving potential for industrial processes converting to hydrogen is 100%. The skills gained from creating the first renewable hydrogen cluster will be leveraged in other UK clusters and internationally, making the UK an international centre for renewable hydrogen excellence. This will also help support a UK supply chain in the manufacture and deployment of electrolyser products through ITM Power’s manufacturing plant in South Yorkshire.

Graham Cooley, CEO, commented: “This is the first of what we believe will be many projects to set out a roadmap to achieving the UK’s ambitious Net Zero by 2050 target. Humberside has both renewable energy and heavy industry, making it an ideal test bed for industrial scale green hydrogen production and distribution.”

Ben Madden, MD Element Energy added: “We aim to demonstrate to the UK Government, our industrial partners and the rest of the world the potential benefits of green hydrogen to the reduction of carbon emissions. This project will help to create a blueprint for cleaner industry that can be rolled out elsewhere.”

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

ITM Power plc

Andy Allen, Finance Director

+44 (0)114 244 5111

Investec Bank plc (Nominated Adviser and Broker)

Chris Sim / Jeremy Ellis / Ben Griffiths

+44 (0)20 7597 5970

Tavistock (Financial PR and IR)

Simon Hudson / Edward Lee / Barney Hayward

+44 (0)20 7920 3150

 

About ITM Power plc:

ITM Power plc manufactures integrated hydrogen energy solutions for grid balancing, energy storage and the production of renewable hydrogen for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004.  In October 2019, the Company announced the completion of a £58.8 million fundraise, including a subscription by Linde of £38 million, together with the formation of a joint-venture with Linde to focus on delivering renewable hydrogen to large scale industrial projects worldwide.  ITM Power signed a forecourt siting agreement with Shell for hydrogen refuelling stations in September 2015, (which was extended in May 2019 to include buses, trucks, trains and ships) and in January 2018 a deal to deploy a 10MW electrolyser at Shell’s Rhineland refinery. ITM Power announced the lease of the world’s largest electrolyser factory in Sheffield with a capacity of 1GW (1,000MW) per annum in July 2019. Customers and partners include Sumitomo, Ørsted, Phillips 66, National Grid, Cadent, Northern Gas Networks, Gasunie, RWE, Engie, BOC Linde, Toyota, Honda, Hyundai and Anglo American among others.

Published in News
ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to share details of a short project sponsored by the Department for Business, Energy & Industrial Strategy (BEIS), in late 2019, entitled ‘Hydrogen supply competition’, ITM Power and Ørsted proposed the following:  an electrolyser placed at the wind turbine e.g. in the tower or very near it, directly electrically connected to the DC link in the wind turbine, with appropriate power flow control and water supplied to it. This may represent a better design concept for bulk hydrogen production as opposed to, for instance, remotely located electrolysers at a terminal or platform, away from the wind turbine generator, due to reduced costs and energy losses.

 
In this scenario, where an electrolyser is placed offshore at the wind turbine, e.g. in the tower or in close vicinity to the wind turbine, energy in the form of hydrogen will be transported to shore by an underwater or underground pipe network. This presents an opportunity to reduce overall costs, as hydrogen pipes cost less per km than power cables. The efficiency of such a system shows potential to define new standards by removing the need for AC rectification.
 
 The concept proposed is:
  • A marine environment capable electrolyser
  • ‘Type IV’ wind turbine generators and their ‘DC link’ have the potential to power the electrolyser directly
  • This enables fewer power conversion steps and thereby reduces both energy losses and electrolyser footprint
  •  Readily abundant cooling capacity via the sea water
  •  Energy in the form of Hydrogen gas supplied to shore by pipe rather than via electricity
  •  Connecting one electrolyser with one turbine wind generator
  •  Other avoided costs of this concept include permitting, a single process unit deployment


Overall, the concept explores opportunities to minimise the cost of hydrogen production through a combination of improved efficiency and reduced CAPEX. Such a system has not been demonstrated in practice and several challenges will need to be overcome for this vision to be realised. However, the possible cost reductions presented by this concept makes it viable for consideration on future offshore hydrogen installations. Demonstrating the concept would require R&D effort, as well as economic evaluation.

Therefore, areas for future development include:
 

  •  Development of an electrolyser module specification suitable for offshore operation
  •  Pre-build, pre-testing of electrolysers and DC link module at onshore locations
  •  Prototype design, build, deployment, and testing onshore
  •  Design exercise for a multi MW-scale solution
  •  Offshore deployment planning and demonstration
  •  Operations design including assessment of OPEX costs
  •  Techno-economic assessment and business case development

 
To pave the way for a sustainable future with hydrogen and related P2X technologies as the key enablers, the energy system must undergo significant changes at a considerable pace. To achieve fully developed optimal solutions for these required changes will require investment to provide the necessary building blocks.

Published in News

Sign Up to the ITM Power Newsletter to get the latest news from us

Invalid Input
Invalid Input
Invalid Input
Invalid Input
Invalid Input

Social Media


Contact Us


ITM POWER HEAD OFFICE
22 Atlas Way
Sheffield
S4 7QQ
+44 (0)114 244 5111

Investor Relations


TAVISTOCK COMMUNICATIONS
Simon Hudson
1 Cornhill
London
EC3V 3ND
+44(0) 20 7920 3150

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