Business
ITM Power joins Californian HES Program
ITM Power joins Californian HES Program.
About this update from Itm Power Plc
[{"type":"text","content":"\n \nRNS Number : 6656H ITM Power PLC 24 June 2013 \n \n\n24th June 2013\n \nITM Power plc\n(\"ITM Power\" or the \"Company\")\n \nITM Power Joins Californian Hydrogen Business Council Hydrogen Energy Storage (HES) Program\n \nITM Power (AIM: ITM), the energy storage and clean fuel company, is delighted to announce its membership of the California Hydrogen Business Council (CHBC) and its participation as a founding member in the CHBC Hydrogen Energy Storage (HES) Program. \n \n\"We are delighted to play an active role in the CHBC and support the activities of the Hydrogen Energy Storage Program. Energy storage is a significant business opportunity in California and the formation of this important grouping is very timely,\" commented Dr. Graham Cooley, CEO of ITM Power. \"We are looking forward to building on our relationships and entering the U.S. market with our HGas products.\"\n \nGeoffrey Budd, ITM Power's Representative in the USA, has been appointed to the HES Program Committee. The other founding members of the HES Program are Southern California Gas Company and Hydrogenics Corporation.\n \nThe decision to create a Hydrogen Energy Storage Program was taken by the CHBC's Board of Directors on April 9, 2013 and implemented on June 17, 2013. It will assist the market adoption of hydrogen energy storage in California by providing a greater understanding of the role of Power-to-gas energy storage and the energy storage role played by hydrogen used as a transport fuel.\n \n\"Hydrogen energy storage will play an increasingly important part of the future energy mix in California as we extend the use of renewable power,\" declared Mark Abramowitz, CHBC President. \"The formation of this program will play a vital part in defining the role and guiding the deployment of hydrogen energy storage.\"\n \nHydrogen energy storage has the potential to become an immense business opportunity in California, as the state moves to an ever increasing use of renewable energy, with a target of 33% renewable electricity by 2020 set by the California Air Resources Board (ARB), Executive Order S-21-09. California has also taken a big step forward in making grid-scale energy storage on a large scale a reality. In 2010 the California Assembly Bill 2514 was passed, the first state law calling for grid-scale e...