ITM Power Get Grant To Evaluate Renewable Hydrogen In British Columbia

29th Mar 2018 16:36

LONDON (Alliance News) - ITM Power PLC, a hydrogen energy system manufacturer, has been awarded a grant from a Canadian provincial government to undertake a power-to-gas feasibility study in British Columbia.

The British Columbia government's ministries of Energy, Mines & Petroleum Resources and Jobs, Trade & Technology will allow the Sheffield-based company to perform a techno-economic feasibility study for the large scale centralised production of renewable hydrogen in the province.

The value of the grant wasn't disclosed, although ITM Power describe it as "relatively small". The project has the potential to be one of the largest of its kind globally, with total hydrogen electrolysis capacity of up to 300MW under considertion, to be used to supply both domestic and international export demand

Assuming a positive economic result of the feasibility study, a pilot plant will be considered for construction. Once fully financed, the contract value of the pilot plant will be added to ITM Power's opportunity pipeline.

The project team includes ITM Power, Chiyoda Corp, Mitsui & Co Ltd and G&S Budd Consulting Ltd. The project is due to commence in the second quarter of 2018 and has a duration of 12 months.

Steve Jones, managing director of ITM Power Inc, commented: "ITM Power's technology is available today at the multi-MW level for utility customers. We are excited to be working with British Columbia and our other world leading partners to investigate the huge potential of large scale renewable hydrogen production, in a project that further endorses ITM Power's product strength and operational capability."

ITM Power Chief Executive Graham Cooley said: "This exciting project is another example, not only of the recognition and attention that the potential of hydrogen energy storage is attracting internationally, but also of ITM Power's global market leading technology and expertise necessary to support projects at this scale. This project also highlights the potential scale of ITM Power's addressable markets, the significant potential that sits behind our stated opportunity pipeline, and the cautious yet rigorous methodology we apply in calculating this figure."

Shares in ITM Power were up 3.9% to 32.00 pence each at the London close Thursday.

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