ITM Power PLC Power-to-Gas Storage Study with Northern Gas
November 09 2017 - 2:02AM
RNS Non-Regulatory
TIDMITM
ITM Power PLC
09 November 2017
9 November 2017
ITM Power plc
("ITM Power" or the "Company")
Large Scale Power-to-Gas Energy Storage Deployment Study with
Northern Gas Networks
ITM Power (AIM: ITM), the energy storage and clean fuel company,
is pleased to announce that it has secured funding from the
Department for Business, Energy and Industrial Strategy (BEIS) as
part of the Energy Storage Feasibility Study Competition launched
in January 2017 to collaborate with Northern Gas Networks (NGN) to
undertake a study examining the potential deployment of large-scale
Power-to-Gas energy storage.
The feasibility study will focus on deployments capable of
operating cost-effectively from 50MWh energy storage capacity
upwards within the boundaries of the NGN gas distribution network.
The study will provide detailed technical, economic and
site-specific information about large-scale Power-to-Gas energy
storage which will enable a decision on a potential large-scale
energy storage demonstration project.
Power-to-gas energy storage
Power-to-gas energy storage is a scalable energy storage
technology capable of absorbing power from the electricity grid at
times when supply exceeds demand and when intermittent renewable
generation causes network stability problems. In Power-to-Gas,
electrical power is converted to chemical energy in the form of
hydrogen which can be injected and stored in the gas network. The
gas network has the capacity to store energy indefinitely and
power-to-gas has the potential to store MW to GW for durations that
can extend from hours to many months.
Graham Cooley, CEO of ITM Power, said: "We are delighted to be
working closely with Northern Gas Networks on this study to deploy
large scale Power-to-Gas energy storage on their network. The
principle of the gas grid being used as a renewable energy store is
a compelling idea for the gas industry. Northern Gas Networks are
leaders in the use of hydrogen in the UK gas network for energy
storage and for renewable heat."
Mark Horsley, CEO of Northern Gas Networks, added: "The whole
systems approach and Power-to-Gas technology are incredibly
exciting prospects for the UK's future energy mix and we're
delighted to be a partner in this pioneering project, part of which
will take place at InTEGReL, our whole systems facility near
Gateshead. As renewable power generation increases, effective
storage and transmission of surplus power will become ever more
important. Instead of being lost, this surplus power has the
potential to be turned into alternative green fuels such as
hydrogen, and stored in the gas network for later use in transport,
heat or generation. This study will provide unique insight into how
we answer some of the energy challenges we're facing, and how by
bringing gas and electricity together we can ultimately drive down
costs for customers, increase resilience and improve
sustainability."
For further information please visit www.itm-power.com or
contact:
ITM Power plc
Andy Allen, CFO +44 (0)114 244 5111
Investec Bank plc (Nominated Adviser and
Broker)
Jeremy Ellis / Chris Sim / Jonathan Wynn +44 (0)20 7597 5970
Tavistock (Financial PR and IR)
Simon Hudson / James Collins +44 (0)20 7920 3150
About ITM Power plc
ITM Power manufactures integrated hydrogen energy solutions for
grid balancing, energy storage and the production of green hydrogen
for transport, renewable heat and chemicals. ITM Power was admitted
to the AIM market of the London Stock Exchange in 2004. In
September 2017 the Company announced the completion of a GBP29.4m
working capital fundraise. The Company signed a forecourt siting
agreement with Shell for hydrogen refuelling stations in September
2015 and subsequently a deal to deploy a 10MW electrolyser at
Shell's Rhineland refinery. Additional customers include National
Grid, RWE, Engie, BOC Linde, Toyota, Honda, Hyundai, Anglo American
among others. The Company's order pipeline stands at GBP19.9m of
projects under contract and GBP20.4m of contracts in the final
stages of negotiation, totalling GBP40.3m (subject to exchange rate
variation).
About Northern Gas Networks
Northern Gas Networks Limited (NGN) distributes gas to
households and businesses in the north of England. It owns and
maintains approximately 37,000 kilometres of gas pipes and delivers
gas to 2.7 million customers in the North East, Northern Cumbria,
and Yorkshire. NGN is regarded as a frontier network, taking a lead
on efficiency, safety and relentless focus on the customer to
ensure the highest levels of service. NGN has pioneered the
research into hydrogen as a new fuel source and has been actively
pursuing the possibilities of utilising hydrogen as a heating
source in the UK through the H21 Leeds City Gate project.
-ends-
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The company news service from the London Stock Exchange
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