Business
Funding for Refhyne II
Funding for Refhyne II.
About this update from Itm Power Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 4300O\n ITM Power PLC\n 08 October 2021\n \n \n \n 8 October 2021\n \n \n \n \n ITM Power plc\n \n \n (\"ITM\", \"ITM Power\", the \"Group\" or the \"Company\")\n \n \n \n \n \n Funding Secured for Refhyne II \n \n \n Consortium announces grant award from CINEA for 100 MW project \n \n \n \n \n \n ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that the Refhyne II consortium has been awarded a grant of €32.4m by CINEA (the European Climate, Infrastructure and Environment Executive Agency) for the development of a 100 MW electrolyser to be sited at Shell's Energy and Chemicals Park, Rheinland. The Refhyne II consortium comprises Shell Deutschland GmbH, ITM Power and ITM Power GmbH, Linde Engineering, ITM Linde Electrolysis GmbH, Fundacion Tecnalia Research & Innovation, Element Energy and Concawe, and is coordinated by Sintef AS.\n \n \n Refhyne II is the follow-on project to the 10 MW Refhyne I, Europe's largest PEM hydrogen electrolyser, which began operations in July this year, with support from the European Commission's Fuel Cells and Hydrogen Joint Undertaking Refhyne I uses renewable electricity to produce up to 1,300 tonnes of green hydrogen a year. This will initially be used to produce fuels with lower carbon intensity. The green hydrogen will also be used to help decarbonise other industries. The Rheinland site, near Cologne, is where Shell intends to produce sustainable aviation fuel (SAF) using renewable power and biomass in the future.\n \n The 100 MW Refhyne II project will see an engineering design phase which will be followed by a final investment decision (FID) expected in late 2022 with delivery then scheduled for 2024.\n \n This project has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement number 101036970.\n \n \n Dr Graham Cooley, CEO of ITM Power, said: \"Having successfully delivered the 10 MW Refhyne I project, the consortium partners will take the experience and learning they have gained to scale up tenfold for Refhyne II. This is a world leading project that demonstrates the increasing commitment by governments and industry to decarbonise, at scale, using zero carbon footprint green hydrogen. ...