Business
Sale of 1.1MW Power-to-Gas Plant to EnergyStock
Sale of 1.1MW Power-to-Gas Plant to EnergyStock.
About this update from Itm Power Plc
[{"type":"text","content":"\n \nRNS Number : 0960R ITM Power PLC 19 September 2017 \n\n19 September 2017\n \nITM Power plc\n(\"ITM Power\" or the \"Company\")\n \nSale of 1.1MW Power-to-Gas Plant to EnergyStock\n \nITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that EnergyStock, a subsidiary of Gasunie, the Dutch gas transmission network operator, has purchased an ITM Power 1.1MW rapid-response PEM electrolyser. The sale was won in a competitive tender process and includes an after-sales support contract. The electrolyser will be located at EnergyStock's Zuidwending salt cavern storage facility in northern Netherlands, and the generated hydrogen will be either used on-site within EnergyStock's systems, or dispensed into tube trailers for supply to future hydrogen refuelling stations. Power will be delivered to the equipment via TenneT's high voltage electricity network. \n \n \nITM Power CEO, Dr. Graham Cooley, said: \"We are delighted to be working with EnergyStock in the rapidly developing Power-to-Gas energy storage market. Power-to-Gas is the lowest cost long duration energy storage technique known. Power-to-Gas Energy Storage is joined up energy systems thinking - it exploits the virtues of an existing asset (the gas grid) to decarbonise both electricity and gas networks. Using excess renewable power to provide renewable heat combines two problems into one elegant solution.\"\n \nFor further information please visit www.itm-power.com or contact: \n \n\n\n\n\nITM Power plc\nGraham Cooley, CEO\n\n\n+44 (0)114 244 5111\n\n\n\n\nInvestec Bank plc (Nominated Adviser and Broker)\nJeremy Ellis / Chris Sim / Jonathan Wynn\n\n\n+44 (0)20 7597 5970\n\n\n\n\nTavistock (Financial PR and IR)\nSimon Hudson / James Collins\n\n\n+44 (0)20 7920 3150\n\n\n\n\n \nAbout ITM Power plc\nITM Power manufactures integrated hydrogen energy solutions which are rapid response and high pressure that meet the requirements for grid balancing and energy storage services, and for the production of clean fuel for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004. The Company received £4.9m as a strategic investment from JCB in March 2015. The Company signed a forecourt siting agreement with Shell in September 2015. The Co...