ITM Power PLC Gasunie Plant Opening
June 27 2019 - 1:01AM
RNS Non-Regulatory
TIDMITM
ITM Power PLC
27 June 2019
27 June 2019
ITM Power plc
("ITM Power" or "the Company")
Opening of the Gasunie 1MW Green Hydrogen Electrolyser Plant in
the Netherlands
ITM Power (AIM: ITM), the energy storage and clean fuel company,
is pleased to announce the opening yesterday of Gasunie's Hystock
green hydrogen plant in Veendam near Groningen in the Netherlands.
Gasunie manages and maintains the infrastructure for the
large-scale transport and storage of gas in the Netherlands and the
northern part of Germany.
ITM Power supplied the 1MW PEM electrolyser system which will
use renewable energy and water to generate hydrogen. The
electrolyser is located at EnergyStock's Zuidwending salt cavern
storage facility in northern Netherlands, and the generated
hydrogen will be either used on-site or dispensed into tube
trailers for supply to future hydrogen refuelling stations.
Prof Roger Putnam CBE, Chairman of ITM Power, who attended the
ceremony, commented: "Hydrogen is a key element in the transition
to a fully renewable energy system; we now need immediate political
and industry action to accelerate the adoption of renewable
hydrogen."
Gasunie's announcement is set out below.
King Willem-Alexander opens sustainable HyStock hydrogen
plant
This morning, Wednesday 26 June, King Willem-Alexander opened
Gasunie's HyStock green hydrogen plant in Veendam, near Groningen.
This plant is the first step in creating the hydrogen supply chain
of the future, which will see green energy converted, stored and
transported to customers. It is also a key, specific measure that
will help make the Netherlands sustainable and carbon-neutral.
During his visit, the King saw various uses of hydrogen in the
manufacturing and mobility sectors.
The HyStock hydrogen plant converts 1 megawatt of sustainable
electricity to green hydrogen and is the first to apply this
process on a serious scale. Gasunie's aim is to achieve large-scale
and profitable storage of hydrogen in the company's EnergyStock
underground gas storage facilities in the near future. The hydrogen
can then be used as a sustainable source of energy, including when
solar and wind energy are unavailable.
"Hydrogen is a key element of the energy supply of the future,"
explains Han Fennema, CEO Gasunie. "The HyStock hydrogen plant is
the first specific step towards really making an effort to achieve
the required further growth in the use of sustainable hydrogen
throughout the chain, from production to usage. We will be able to
make part of our existing infrastructure suitable for the transport
and storage of hydrogen by 2030. This sustainable reuse of the
existing gas network will help to keep our energy supply reliable
and affordable."
Since large-scale transport and storage of hydrogen is expected
to be easy, reliable and affordable, hydrogen can play a key role
as a clean energy carrier for manufacturing, mobility and the built
environment. Converting electricity into hydrogen is a way of using
the expected future surpluses of sustainable electricity. HyStock
is the start of the future hydrogen market and therefore helps to
achieve the goal of making the Netherlands and Europe
carbon-neutral.
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 Gasunie
Gasunie is a leading European energy infrastructure company
whose core activities are gas transport and gas storage. The
Company serves the public interest and facilitates the energy
transition by providing integrated infrastructure services. It
focuses on value creation for its sole shareholder, the Dutch
State, and its other stakeholders and applies the highest safety
and business standards used in the sector. Through networks in the
Netherlands and Germany, Gasunie transports nearly a quarter of the
total gas consumption in the European Union. The Company's
employees are spread over more than 30 locations in the Netherlands
and northern Germany with offices in The Hague, Brussels and
Moscow. Gasunie is headquartered in Groningen (the Netherlands),
and the main office in Germany is located in Hanover.
About ITM Power
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, Gasunie, RWE, Engie, BOC Linde,
Toyota, Honda, Hyundai, Anglo American among others.
-ends-
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END
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