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ITM Power PLC (ITM)

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Thursday 16 April, 2015

ITM Power PLC

0.5MW Electrolyser Sale to EMEC

RNS Number : 3628K
ITM Power PLC
16 April 2015
 

16 April 2015

 

ITM Power plc

("ITM Power" or "the Company")

 

0.5MW Electrolyser Sale to EMEC

Integrated Hydrogen System for Tidal Energy Storage

 

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has won a competitive tender to supply an integrated hydrogen system for use at the European Marine Energy Centre (EMEC) tidal test site on Eday, Orkney, Scotland.  The system's principal component is a 0.5MW polymer electrolyte membrane (PEM) electrolyser with integrated compression and up to 500 kg of storage. We have also offered an additional maintenance contract alongside the integrated system as well as a fuel cell for local back up power. The total contracted value of the project is £1.79m.

 

Including this project, the Company currently has £9.97m of projects under contract and a further £5.79m of contracts in final stages of negotiation.

 

The 0.5MW electrolyser will be used to absorb excess power generated by the tidal turbines testing at EMEC. The hydrogen gas generated will be compressed and stored, with some of the gas being used in (an optional) hydrogen fuel cell to provide backup power to critical EMEC systems. The remainder of the hydrogen gas will be used off-site by a further project being developed separately which plans to absorb output of a local community wind turbine operated by Eday Renewable Energy Ltd.

 

Subject to contract ITM will supply, integrate, commission and maintain all parts of this system. The electrolyser will be packaged in a standard 20' and 10' ISO container and is summarised below:

•              Hydrogen generation capacity up to 220kg/24hours

•              Self-pressurisation up to 20 bar

•              Rapid response

•              Hydrogen purity satisfying ISO 14687

•              CE compliant

 

Neil Kermode, Managing Director, EMEC, commented: "We are really excited about the deployment of ITM Power's PEM electrolyser system on Eday. This is an innovative way to tackle the shortcomings of the local grid which is holding back marine energy in Orkney. It will allow us to not only pilot the production of hydrogen fuel from tidal energy, but will allow surplus renewable energy on the island to be used without having to rely upon the inadequate grid. We really see this as the moment we begin to break away from the shackles of a 20th century cable architecture."

 

Dr Graham Cooley, CEO, ITM Power, commented: "We are delighted with this sale and to be working with EMEC on the Orkney Islands.  ITM Power's PEM Electrolysers are perfect for island deployment given the logistics of power distribution and fuel supply and this application by EMEC is a fantastic example as to how the rapid response functionality of ITM's systems offer freedom from the grid constraints of distributed and remote renewable energy"

 

ITM Power plc

Graham Cooley, CEO

+44 (0)114 244 5111

Zeus Capital

Dan Bate / John Treacy / John Goold

+44 (0)20 7533 7727

Tavistock Communications

Simon Hudson / James Collins

+44 (0)20 7920 3150

 

About ITM Power plc:

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, £5.4m in 2012, £2m in 2013 and £10m in 2014 have been completed. The company received £4.9m as a strategic investment from JCB in March 2015. The Company has now made the transition from a research and development company to a product manufacturer and technology provider.  The Company currently has £9.97m of projects under contract and a further £5.79m of contracts in final stages of negotiation.

www.itm-power.com

 

About EMEC:

The European Marine Energy Centre (EMEC) Ltd is the first and only centre of its kind in the world to provide developers of both wave and tidal energy converters - technologies that generate electricity by harnessing the power of waves and tidal streams - with purpose-built, accredited open-sea testing facilities. www.emec.org.uk

 

About PEM technology:

Polymer electrolyte membrane (PEM) electrolysis is the electrolysis of water in a cell equipped with a solid polymer electrolyte (SPE) that is responsible for the conduction of protons, separation of product gases, and electrical insulation of the electrodes. Electrolysis is an important new technology for the production of hydrogen to be used as an energy carrier. With fast dynamic response times, large operational ranges, high efficiencies, and very high gas purities.


This information is provided by RNS
The company news service from the London Stock Exchange
 
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