Business
Euro 2.75m Cost Reduction Grant
Euro 2.75m Cost Reduction Grant.
About this update from Itm Power Plc
[{"type":"text","content":"\n \nRNS Number : 5727V ITM Power PLC 19 April 2016 \n\n19 April 2016\n \nITM Power plc\n(\"ITM Power\" or \"the Company\")\n \n€2.75m Electrolyser System Cost Reduction Grant\nHPEM2GAS will further develop a low cost PEM electrolyser optimised for grid management\n \nITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the award of a €2.75m grant for the HPEM2GAS project funded by the Fuel Cells and Hydrogen Joint Undertaking (FCH JU) under Horizon 2020. ITM Power will receive €915,650 over three years.\n \nThe three year project will further develop the Company's electrolyser offering by incorporating smarter Balance of Plant (BoP) and lower cost Proton Exchange Membrane (PEM) stack technology which together are capable of better serving the growing challenges faced by electricity grids as they assimilate greater quantities of renewable power. The project will culminate in a six month field test of an advanced 0.2MW (nominal), 0.3MW (transient) PEM electrolyser system. \n \nThe electrolyser developed will implement several innovations in advanced BoP including power tracking electronics, high efficiency AC/DC converters, high temperature ion exchange cartridges, advanced safety integration systems and enhanced control logic. The stacks will benefit from improvements to specific components intended to allow more aggressive operating conditions without detriment to overall efficiency or lifetime. \n \nSeveral strategies are to be applied to lower the overall electrolyser cost to promote wider spread adoption of the technology. Central among these is a three-fold increase in current density. This is intended to result in a proportional decrease in capital costs whilst maintaining cutting edge efficiency and minimizing catalyst loading. \n \nITM Power will provide a strong commercial leadership to the group, putting ideas into practice within an improved electrolyser system optimised for Demand Side Management services and to be tested in the field at the Stadtwerke Emden site in Germany. Altogether, the improvements supported in this project will contribute significantly to a reduction of electrolyser total cost of ownership.\n \nThe partners in the project are CNR-ITAE Institute in Italy (the project coordinator), ITM P...