Business
Gigastack Phase 2 Funding
Gigastack Phase 2 Funding.
About this update from Itm Power Plc
[{"type":"text","content":"\n \nRNS Number : 2746D ITM Power PLC 18 February 2020 \n\n18 February 2020\n \nITM Power plc\n(\"ITM Power\")\n \nIndustrial scale renewable hydrogen project advances to next phase\n \n· GBP 7.5 million funding secured for phase two of Gigastack \n· Project consortium includes ITM Power, Ørsted, Phillips 66 Limited and Element Energy\n· Phase two to demonstrate low-cost, zero-carbon hydrogen in the UK to industrial scale\n \nGBP 7.5 million funding has been awarded for the next phase of Gigastack, a new renewable hydrogen project, as part of the Department for Business, Energy and Industrial Strategy (BEIS) Hydrogen Supply Competition.\n \nThe Gigastack project, led by ITM Power, Ørsted, Phillips 66 Limited and Element Energy [1], will show how renewable hydrogen derived from offshore wind can support the UK's 2050 net-zero greenhouse gas emission target. \n \nProducing hydrogen has traditionally been associated with high carbon emissions, but by using renewable electricity, e.g. from an offshore wind farm, the process of producing hydrogen from water (electrolysis) can be completely decarbonised. Energy-intensive industries and the transportation sector will have the opportunity to reduce the carbon intensity of their fuels by using renewable hydrogen.\n \nAs part of the initial feasibility phase of the Gigastack project, which finished in 2019, ITM Power developed designs for a low-cost modular 5 megawatt (MW) electrolyser 'stack', collaborating with Ørsted to understand the potential synergies with offshore wind farms and with Element Energy to undertake a market analysis and explore business models for the first industrial-scale 100MW electrolysers. \n \nFor the second phase of the project, which has now received funding from the department for BEIS, the consortium will conduct a Front-End Engineering Design ('FEED') study on a 100MW electrolyser system using staged installations with a nominal capacity of 20MW. The FEED study will detail the actual design of a hydrogen production system connected to a wind farm and industrial off-taker using ITM Power's new generation of electrolyser stack technology, renewable energy directly from Ørsted's Hornsea Two offshore wind farm, and with the resulting renewable hydrogen suppl...