ITM Power PLC Planned 100MW expansion of Shell refinery project (4932Q)
26 February 2021 - 8:04PM
UK Regulatory
TIDMITM
RNS Number : 4932Q
ITM Power PLC
26 February 2021
26 February 2021
ITM Power plc
("ITM Power" or "the Company")
Planned 100MW expansion of the Shell refinery project
ITM Power (AIM: ITM), the energy storage and clean fuel company,
is pleased to note the announcement by Shell today of its plans for
its Rhineland Refinery in Germany. These include an increase in the
capacity of the ITM Power PEM electrolysis plant by 100MW. Shell's
partners for the electrolysis project are ITM Power, ITM Linde
Electrolysis GmbH (ILE) and Linde. Subject to finalising contracts
and securing some matching funding, construction will begin next
year.
The full text of Shell's press release, in German, can be found
here:
https://www.shell.de/media/shell-media-releases/2021/shell-energy-and-chemicals-park-rheinland.html
For further information please visit www.itm-power.com or
contact:
ITM Power plc +44 (0)114 263 7646
James Collins, Head of IR ir@itm-power.com
Investec Bank plc (Nominated Adviser
and Broker) +44 (0)20 7597 5970
Jeremy Ellis / Chris Sim / Ben Griffiths
Tavistock (Financial PR) +44 (0)20 7920 3150
Simon Hudson / Edward Lee / Tim Pearson
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 November 2020 ITM announced a successful fundraise and a
strategic investment from Snam S.p.A., a major Italian energy
infrastructure company, totalling GBP172m. In October 2019, the
Company announced the completion of a GBP58.8 million fundraise,
including a subscription by Linde of GBP38 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, National Grid, Cadent, Northern Gas Networks,
Gasunie, RWE, Engie, BOC Linde, Toyota, Honda, Hyundai and Anglo
American among others.
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