TIDMITM
ITM Power PLC
25 June 2019
25 June 2019
ITM Power plc
("ITM Power", "the Company" or "the Group")
Shell Rheinland Refinery Update
ITM Power (AIM: ITM), the energy storage and clean fuel company,
is pleased to note the announcement by the REFHYNE consortium of
the commencement of construction of the 10MW hydrogen electrolysis
plant at the Shell Rheinland refinery in Wesseling, Germany. The
REFHYNE announcement is set out below.
Construction starts on the world's largest PEM electrolyser at
Shell's Rheinland Refinery
Ground-breaking ceremony for a new hydrogen electrolysis plant
at the Shell Rheinland refinery in Wesseling, Germany, that will
help contribute to a cleaner, lower-carbon energy future.
Brussels/Cologne, June 25th, 2019: Construction of the new
plant, which features advanced polymer electrolyte membrane (PEM)
technology, is expected to be completed in the second half of 2020.
The plant will produce up to 1,300 tons of hydrogen per year when
operating at peak rates.
Hydrogen will be produced using electricity instead of natural
gas. Producing hydrogen with electricity generated from renewable
power sources could help significantly reduce CO2 emissions from
the Shell Rheinland refinery.
"Oil products will continue to play an important role in the
decades ahead, and this project means we will be able to make more
and cleaner fuels, bitumen and base chemicals", explained Frans
Dumoulin, Director of the Shell Rheinland Refinery. "At the same
time, we want to contribute to accelerating the use of hydrogen in
transport and other sectors."
Hydrogen can play an important role in the energy transition.
Today, hydrogen is already being used in fuel cell vehicles and in
industrial applications. In transport, hydrogen can help improve
local air quality, as fuel cell vehicles only emit water vapor.
"Renewable energy is becoming increasingly important for Shell",
said Dr. Thomas Zengerly, Chairman of the Management Board of Shell
Deutschland Oil. "Royal Dutch Shell has set up its own business
unit specifically for this purpose: New Energies."
Shell expects a new hydrogen model region to be set up in the
Cologne area, based on activities around filling stations, cars and
buses. The project is based on the idea of a "hydrogen model
region" that can jointly demonstrate the potential of hydrogen in
the energy turnaround."
On behalf of the state government of Northrhine-Westfalia,
Christoph Dammermann, State Secretary in the Ministry of Economic
Affairs, Innovation, Digitisation and Energy, NRW, welcomed the
construction of the plant: "Hydrogen has great potential for a
climate-neutral energy system of the future. Produced from
renewable electricity, it can serve as an important energy carrier
and longterm storage in the transport, heating and industrial
sectors and thus become a key element for the energy and traffic
transition."
Bart Biebuyck, Executive Director, EU Fuel Cells and Hydrogen
Joint Undertaking, said: "FCH-JU funded projects like REFHYNE give
the opportunity to European electrolyser industry to build
equipment that meets the strict standards of the European refining
industry. They will help reducing the CO2 footprint of large
industrial processes through the production of green hydrogen."
Simon Bourne, Chief Technical Officer of ITM Power, said: "This
ground breaking of the world's largest PEM electrolyser is an
important moment for ITM Power and our partners. Working with Shell
has been a real privilege for us and the process has transformed
our market offering as a result. Large scale electrolysis is now
seen as an important element in the decarbonization of key
industrial processes and the REFHYNE project lays the first
building block to 100MW industrial plants and beyond."
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 +44 (0)20 7597 5970
Tavistock (Financial PR and IR)
Simon Hudson / Nick Elwes / 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 green
hydrogen for transport, renewable heat and chemicals. ITM Power plc
was admitted to the AIM market of the London Stock Exchange in
2004. In September 2017, the Company announced the completion of a
GBP29.4m working capital fundraise. The Company 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 subsequently a deal to deploy a 10MW
electrolyser at Shell's Rhineland refinery. The Company entered
into a Strategic Partnership Agreement with Sumitomo Corporation in
July 2018 for the development of multi-megawatt projects in Japan.
Additional customers and partners include Ørsted, National Grid,
Cadent, Northern Gas Networks, RWE, Engie, BOC Linde, Toyota,
Honda, Hyundai, Anglo American among others.
-ends-
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Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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