ITM Power PLC 10MW Refinery Hydrogen Project with Shell (5777P)
01 September 2017 - 7:09PM
UK Regulatory
TIDMITM
RNS Number : 5777P
ITM Power PLC
01 September 2017
1 September 2017
ITM Power plc
("ITM Power" or the "Company")
10MW Refinery Hydrogen Project with Shell
ITM Power (AIM: ITM), the energy storage and clean fuel company,
is pleased to note the announcement today from Shell concerning a
joint project to install a 10MW electrolyser to produce hydrogen at
the Wesseling refinery site within the Rheinland Refinery Complex
in Germany.
ITM Power CEO, Dr Graham Cooley, said: "Decarbonising hydrogen
production in the chemical and refining industries worldwide is
potentially a very large market. This pioneering project with Shell
aims to demonstrate what can be achieved using our industrial scale
electrolysers which can also use low cost renewable energy and help
to balance electricity grids."
The Company currently has GBP18.0m of projects under contract
and GBP19.9m of contracts in the final stages of negotiation,
totalling GBP37.9m. The Rheinland Refinery project is already
included in these pipeline numbers.
The full text of Shell's announcement is set out below.
SHELL PLANS PROJECT WITH ITM POWER FOR BULK HYDROGEN PRODUCTION
THROUGH ELECTROLYSIS
Shell, together with ITM Power, plans a project to install a
large scale electrolyser to produce hydrogen at the Wesseling
refinery site within the Rheinland Refinery Complex. With a
capacity of ten megawatts, this would be the largest unit of its
kind in Germany and the world's largest PEM (Polymer Electrolyte
Membrane) electrolyser. This electrolyser technology is also
suitable to improve the stability of the electricity grid with a
growing share of intermittent renewable energy sources, such as
from solar and wind.
Shell through Shell Deutschland Oil GmbH and Shell Energy Europe
Ltd with consortium partners ITM Power PLC, SINTEF, thinkstep and
Element Energy have been invited to the preparation of a grant
agreement by the European Fuel Cells and Hydrogen 2 Joint
Undertaking (FCH 2 JU), following a competitive call for
proposals.
Today, the refinery uses approximately 180,000 tons of hydrogen
per year in their various plants. The hydrogen is currently
produced as a byproduct of the refining process or through natural
gas reforming, while electrolysis uses electricity to split water
into the base components of hydrogen and oxygen.
The project aims to enable the construction and operation of a
large scale10 MW electrolyser that can produce high quality
hydrogen and CO2 free hydrogen while demonstrating technology and
cost improvements through upscaling and new business applications.
Electrolysis using low-cost renewable electricity could be a key
technology for a potential CO2 free hydrogen production in the
Shell Rheinland Refinery.
"The envisaged hydrogen electrolysis would be a step into the
future - opening the door to many new development options for the
refinery," said Dr. Thomas Zengerly, the General Manager for the
Shell Rheinland Refinery. The hydrogen produced could be integrated
into the refinery processes. The location will also allow the
refinery to later expand its facilities to supply hydrogen to
potential new customers outside the refinery. "This project would
allow us to test new technologies in the refinery context",
Zengerly said.
"Hydrogen is a promising technology, even beyond direct use as a
cleaner fuel for transport. In the future, it is also expected to
play a key role in integrating energy storage and power grid
balancing, thus enabling a reliable and growing share of renewables
in the energy system," said Brian Davis, Vice President of
Integrated Energy Solutions at Shell.
Notes to the Editor:
-- In transport, hydrogen is one of the fuels that can reduce
emissions and improve air quality at the same time. Shell is taking
part in various initiatives to encourage the adoption of hydrogen
as a transport fuel. In Germany, Shell is working with the
government and industry partners in a crosssector joint venture, H2
Mobility Germany, to support the development of a nationwide
expansion of hydrogen refueling stations. Outside Germany, Shell
already has hydrogen stations in the UK and California.
-- About FCH 2 JU: The Fuel Cells and Hydrogen Joint Undertaking
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 2 JU are the European
Commission, fuel cell and hydrogen industries represented by the
Industry Grouping Hydrogen Europe and the research community
represented by the Research Grouping N.ERGHY.
For further information please visit www.itm-power.com or
contact:
ITM Power plc
Graham Cooley, CEO +44 (0)114 244 5111
Investec Bank plc (Nominated Adviser and
Broker)
Jeremy Ellis / Chris Sim / Jonathan Wynn +44 (0)20 7597 5970
Tavistock (Financial PR and IR)
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. The Company received GBP4.9m as a
strategic investment from JCB in March 2015. The Company signed a
forecourt siting agreement with Shell in September 2015. The
Company currently has GBP18.0m of projects under contract and
GBP19.9m of contracts in the final stages of negotiation, totalling
GBP37.9m (subject to exchange rate variation).
-ends-
This information is provided by RNS
The company news service from the London Stock Exchange
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