TIDMITM
RNS Number : 0440T
ITM Power PLC
22 November 2021
22 November 2021
ITM Power plc
("ITM Power" or the "Company")
UK Government Investment Secured for Whitelee Windfarm Green
Hydrogen Phase 1
The Green Hydrogen for Scotland Consortium is pleased to
announce that it has been successful in its application for funding
from the Energy Innovation Portfolio competition run by the UK
Government Department of Business Energy Innovation and Skills
(BEIS). The Energy Innovation Portfolio funding of GBP 9.4m will
support investment for the first Phase of development for
ScottishPower's 20MW Whitelee Windfarm hydrogen production and
storage facility. The Green Hydrogen for Scotland Consortium
partners are ScottishPower, BOC and ITM Power.
The Energy Innovation Portfolio funding is for a 10MW
electrolyser and associated four tonnes of storage, and is the
first phase in the development of the 20MW facility, for which a
planning application was submitted on 12 April 2021, to be sited at
Whitelee Wind Farm near Glasgow, the UK's largest onshore wind
farm. The project forms part of the recently announced contracts
backlog (in negotiation) for ITM Power.
The project is designed to provide carbon-free transport and
clean air for communities across the city and wider central belt
region, with Glasgow aiming to become the first net-zero city in
the UK by 2030. The facility aims to supply hydrogen to the
commercial market by the end of 2023.
The funding support marks an important step for the creation of
commercial-scale green hydrogen production which will ensure
transportation and industrial sectors can access zero-emission
hydrogen in the transition away from fossil fuels. By using
renewable electricity and water as inputs to the hydrogen
production process, this clean, green form of hydrogen will be
critical in reducing carbon dioxide and greenhouse gas emissions
across the economy.
The Energy Innovation Portfolio competition looked for
innovative, replicable large-scale energy storage solutions which
could provide a market competitive alternative to conventional
commercial large-scale energy storage technologies. Innovative
large-scale energy storage will play an important role in
decarbonising industry, power, heat and transport.
Commenting on the award, Graham Cooley, CEO, said: "We are very
pleased to be a partner in Green Hydrogen for Scotland and this
first project, Green Hydrogen for Glasgow, will see the deployment
of the largest electrolyser to date in the UK."
Barry Carruthers, ScottishPower Hydrogen Director, said: "Now
COP26 has ended, we need to continue to move forward, taking action
to invest in the clean, green energy the UK needs to reach Net
Zero. As Principal Partner for the conference we welcome this
investment in a blend of renewable electricity generation and green
hydrogen production promises to highlight the multiple ways in
which society can decarbonise by using these technologies here and
now."
Jim Mercer, Business President, BOC UK & Ireland said: "The
Green Hydrogen for Glasgow project is both innovative and exciting.
It will help to shape the future of energy storage and demonstrate
the value of hydrogen to Scotland's growing low-carbon economy.
This project will accelerate development across multiple
disciplines - from production and storage, to transportation and
end use."
For further information please visit www.itm-power.com or
contact:
ITM Power plc
James Collins, Investor Relations +44 (0)114 551 1205
Justin Scarborough, Investor Relations +44 (0)114 551 1080
Investec Bank plc (Nominated Adviser
and Broker) +44 (0)20 7597 5970
Jeremy Ellis / Chris Sim / Ben
Griffiths
Tavistock (Financial PR and IR) +44 (0)20 7920 3150
Simon Hudson / Tim Pearson / David
Cracknell
About ITM Power plc:
ITM 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 GBP58.8m
fundraising, including an investment by Linde of GBP38m, together
with the formation of a joint venture to deliver renewable hydrogen
to large-scale industrial projects worldwide. In November 2020, ITM
Power completed a GBP172m fundraising, including a GBP30m
investment by Snam, one of the world's leading energy
infrastructure operators. In January 2021, the Company received an
order for the world's then largest PEM electrolyser of 24MW from
Linde. In October 2021, the Company, with Linde, announced the
deployment of a 100MW electrolyser at Shell's Rhineland refinery,
following the start-up of an initial 10MW facility at the site.
ITM Power operates from the world's largest electrolyser factory
in Sheffield with a capacity of 1GW (1,000MW) per annum, with the
announced intention to build a second UK Gigafactory in Sheffield
with a capacity of 1.5GW expected to be fully operational by the
end of 2023. The Group's first international facility, expected to
have a capacity of 2.5GW per annum, is intended to be operational
by the end of 2024, bringing total Group capacity to 5GW per annum.
Customers and partners include Sumitomo, Ørsted, Phillips 66,
Scottish Power, Siemens Gamesa, Cadent, Northern Gas Networks,
Gasunie, RWE, Engie, GNVert, National Express, Toyota, Hyundai and
Anglo American among others.
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