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12 April 2012
ITM Power plc
("ITM Power" or the "Company")
TSB Grant Award - Gas Injection Feasibility Study
ITM Power (AIM: ITM), the energy storage and clean fuel company, has been awarded a grant under the Technology Strategy Board's Smart Power Distribution and Demand competition. The project is due to commence in July 2012 and has a duration of 12 months.
The UK quotient of renewable energy generation is due to increase by a factor of five over the next decade and this will dramatically increase the unpredictability of supply. Coupled with existing curtailment traffic and distribution network bottlenecks, this presents a significant technical and financial challenge. 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.
ITM Power is collaborating in a partnership which includes the Scottish Hydrogen Fuel Cell Association ("SHFCA"), and Gastec at CRE ("Gastec") on the £164k feasibility study. The project includes preliminary logistical research, system research, creation of a generation model and the simulation of hydrogen production at a single wind farm.
Graham Cooley, CEO at ITM Power, commented: "ITM Power's technology is ready at the 1MW level and we are very excited about energy storage using the injection of hydrogen directly into the gas grid. Managing renewables is about harvesting and utilising the maximum amount of energy possible. Generating green hydrogen and injecting it directly into the gas main grid is an excellent way of solving the renewable intermittency quandary."
Nigel Holmes, CEO at SHFCA, commented: "The Scottish Hydrogen and Fuel Cell Association is delighted to be contributing to this feasibility study. Scotland is becoming a renewable energy centre of excellence, and SHFCA members will be at the heart of the transition from coal, gas and oil to clean renewable energy. We have significant stranded gas grids in Scotland, and having the ability to link these with our burgeoning renewable power industry will show a pathway towards future energy security for communities across Scotland. This project using UK developed and manufactured clean technology will be a welcome development which supports UK energy strategy and fully aligns with the ambition to deliver the Scottish 2020 targets."
Mark Crowther, Director and General Manager at Kiwa Gastec at CRE, commented: "The use of the mains gas grid for clean energy storage is a logical step and Gastec are looking forward to providing our expertise in this area to the feasibility project. There will be a considerable amount of compliance work necessary to make this happen and this consortium has the skills to achieve the required outcome."
For further information please visit www.itm-power.com or contact:
ITM Power plc
Graham Cooley, CEO
0114 244 5111
Nomura Code Securities Limited
Juliet Thompson / Dr Christopher Golden
020 7776 1200
Simon Hudson / Kelsey Traynor
020 7920 3150
About the TSB:
The Technology Strategy Board is a business-led government body which works to create economic growth by ensuring that the UK is a global leader in innovation. Sponsored by the Department for Business, Innovation and Skills (BIS), the Technology Strategy Board brings together business, research and the public sector, supporting and accelerating the development of innovative products and services to meet market needs, tackle major societal challenges and help build the future economy.
SHFCA The Scottish Hydrogen and Fuel Cell Association promotes and develops expertise in fuel cells and hydrogen technologies, by bringing together the skills and experience numerous industrial and academic bodies with an interest in the subject. SHFCA is developing relationships with other national and international hydrogen and fuel cell bodies to create and develop a global sustainable hydrogen and fuel cell market.
About Kiwa Gastec at CRE:
Gastec at CRE has experience of testing appliances and components for manufacturers from many different countries; CE Marking is a speciality. They also provide carbon verification services through their daughter company c:sense, which is an accredited verifier of carbon emissions.
About ITM Power
ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and raised its initial funding of £6.2m 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:
Unmanned Aircraft System Refueller with Boeing
Marks & Spencer pilot materials handling fuel cell project
UKH2Mobility with leading auto manufacturers, UK government and industrial gas companies
EcoIsland sustainable island energy system with Toshiba, IBM, Cable & Wireless, SSE and Southern Water
CREO Carbon Reduction project with Ford, Jaguar Land Rover and Johnson Matthey