TIDMITM
ITM Power PLC
22 May 2020
22 May 2020
ITM Power plc
("ITM Power" or "the Company")
H2OzBus Project
Deploying Hydrogen Fuel Cell Bus Fleets for Public Transport
across Australia
ITM Power (AIM: ITM), the energy storage and clean fuel company,
is pleased to announce the formation of the H2OzBus Project ("the
Project") and the signing of a memorandum of understanding with
strategic partners ("the Consortium"). The Consortium comprises
Transit Systems, part of the SeaLink Travel Group, Ballard Power
Systems, BOC Limited, Palisade Investment Partners and ITM Power.
The Consortium partners have signed a memorandum of understanding
as a further step in evaluating and demonstrating the concept of
hydrogen fuel cell electric buses for use in public bus transport
in Australia.
The Consortium will collaborate on a project to further
investigate deploying an initial 100 hydrogen fuel cell electric
buses in cities across Australia in Phase 1, with the intention to
use this as a seed for more widespread roll-out. Hydrogen fuel cell
electric buses for public transport has alignment to ARENA's
(Australian Renewable Energy Agency) key investment priorities in
Accelerating Hydrogen and Decarbonising Industry.
The first phase of the Project is a concept development phase
that will focus on infrastructure requirements and detailed plans
for use of hydrogen fuel cell electric buses on bus routes in up to
10 central hub locations across Australia where interest and demand
for fuel cell buses has already been identified.
The Consortium is leveraging the strengths of each partner as
they work towards agreement on feasibility, scope and funding of
the next phase of the Project. The key expertise that each partner
in the Consortium brings to the project and their proposed roles in
the Project are: ITM Power and BOC will provide the hydrogen
production and refuelling infrastructure; Ballard Power Systems
will supply the fuel cell system to be integrated into the electric
buses supplied by supporting bus manufacturers; Transit Systems,
will maintain and operate the vehicles as part of their daily urban
transit operations (or within a strategically located project
managed by Transit Systems), and: Palisade Investment Partners will
assist in providing funding and strategic financial oversight, for
the Project.
Clint Feuerherdt , CEO SeaLink Travel Group said: "The
establishment of the H2OzBus group demonstrates our commitment to
innovation and showcases the network and capabilities of our
globally recognised transport group. It seeks to provide a
"turn-key" solution to generate a "zero emission" outcome in public
transport. We are proud to work alongside our Government partners
and agencies, as well as industry partners to ensure that our
solutions continue to set the benchmark for what is possible."
Dr Neil Thompson, Managing Director of ITM Power Pty Ltd,
commented: "H2OzBus is an exciting project which builds on the
international partnerships that have been developed in recent years
by ITM Power in the fuel cell electric bus markets across the UK
and France. This project provides the first application in
Australia of our new 2MW PEM module that has been developed as a
result of the REFHYNE project in Germany with Shell and represents
a significant scale-up from our sub-1MW foundation projects for
Toyota Australia and BOC Australia."
Vesna Olles, Director for Strategy & Business Development,
BOC said: "BOC is committed to developing a future Australian
transport industry significantly powered by hydrogen. As part of
Linde plc, a global leader in hydrogen and hydrogen refuelling
technology, BOC will share its technical expertise to scale-up
Australian hydrogen supply for the innovative new national bus
fleet. Integrating hydrogen in light transport and rolling out
hydrogen refuelling infrastructure in major cities is one of the
key priorities outlined in the Federal Government's National
Hydrogen Strategy. We look forward to working with all parties
involved in the H2OzBus project."
Randy MacEwen, President & CEO of Ballard Power Systems,
said: "Formation of this new H2OzBus Project to address
zero-emission public transit needs in Australia, will provide bus
operators with an alternative electric bus option with no
compromise on performance and operation. Use cases requiring
extended range, air conditioning and rapid refuelling are an ideal
fit for our fuel cell systems, which have been proven through more
than 30-million kilometres of on-road experience to date."
Roger Lloyd, Managing Director & CEO of Palisade Investment
Partners said: "Palisade believes green hydrogen will play an
important role in the further decarbonisation of our economy,
providing an alternate fuel source and an energy storage mechanism.
We are an active investor in renewable energy and transportation
and are delighted to work with industry leading partners and the
Government on the H2OzBus project."
For more information, please visit www.itm-power.com or
contact:
ITM Power plc (0)114 244 5111
Andy Allen, Finance Director
Investec Bank plc (Nominated Adviser
and Broker) (0)20 7597 5970
Chris Sim / Jeremy Ellis / Ben
Griffiths
Tavistock (Financial PR and IR) (0)20 7920 3150
Simon Hudson / Nick Elwes / Barney
Hayward
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 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, Phillips 66, National Grid,
Cadent, Northern Gas Networks, Gasunie, RWE, Engie, BOC Linde,
Toyota, Honda, Hyundai and Anglo American among others.
About Transit Systems and SeaLink Travel Group Limited
(ASX:SLK)
Transit Systems is a wholly owned subsidiary of the SeaLink
Travel Group Limited (SeaLink). SeaLink is Australia's largest
integrated land and marine, tourism and public transport service
provider with established international operations in London and
Singapore. It is one of Australia's most experienced and diverse
multi-modal transport businesses, boasting performance-driven
capabilities across ferry, bus and light rail. SeaLink is made up
of Australian marine and tourism operations and Transit Systems'
domestic and international public bus and light rail transport
operations. SeaLink moves more than 360 million customers per year,
has over 8,700 employees and operates approximately 3,400 buses and
80 ferries. Visit www.sealinktravelgroup.com.au
About Ballard Power Systems
Ballard Power Systems' (NASDAQ: BLDP; TSX: BLDP) vision is to
deliver fuel cell power for a sustainable planet. Ballard
zero-emission PEM fuel cells are enabling electrification of
mobility, including buses, commercial trucks, trains, marine
vessels, passenger cars, forklift trucks and UAVs. To learn more
about Ballard, please visit www.ballard.com.
About BOC:
BOC, a subsidiary of Linde plc, supplies compressed and bulk
gases, chemicals and equipment across the South Pacific region.
Linde is a leading global industrial gases and engineering company
with 2019 sales of US$28 billion. We live our mission of making our
world more productive every day by providing high-quality
solutions, technologies and services which are making our customers
more successful and helping to sustain and protect our planet. The
company serves a variety of end markets including chemicals &
refining, food & beverage, electronics, healthcare,
manufacturing and primary metals. Linde's industrial gases are used
in countless applications, from life-saving oxygen for hospitals to
high-purity & specialty gases for electronics manufacturing,
hydrogen for clean fuels and much more. Linde also delivers
state-of-the-art gas processing solutions to support customer
expansion, efficiency improvements and emissions reductions.
Information about BOC can be found here:
https://www.boc-limited.com.au/
About Palisade Investment Partners:
Palisade is a specialist, independent infrastructure manager
that provides institutional investors with access to Australian
infrastructure projects through tailored portfolios and co-mingled
funds. Palisade's multi-disciplinary and experienced team focuses
on attractive mid-market assets that are essential to the efficient
functioning of the communities and economies they serve. In
particular, Palisade has strong experience in managing renewable
generation and transportation assets including Gold Coast Rapid
Transit, Sydney Metro Northwest, Snowtown 2 Wind Farm, Ross River
Solar Farm, Granville Harbour Wind Farm, as well as Darwin, Alice
Springs and Sunshine Coast airports.
For more information, visit: http://palisadepartners.com.au/
-ends-
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