Two new reference plant sales in Germany
ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it will be launching at the 2015 Hannover Hydrogen and Fuel Cells Group Exhibit in April an enhanced product range based on a higher current density that produces 50% more hydrogen for the same stack volume. The Company will also be launching its new 350kW single stack with a three stack 1MW system on show and for sale. The Company now has £8.686m of projects under contract and a further £2.496m of new projects subject to final contract negotiation. This reflects the successful conclusion of a number of negotiations and the receipt of revenue for existing projects.
Recognising the market pull for ever larger electrolyser systems for Power-to-Gas energy storage, ITM Power has brought to fruition two key technical initiatives in order to better meet the requirements of widespread uptake. The first is an ability to generate up to 50% more hydrogen from the existing, self-pressurising HGas stack platform. This is achieved by utilising a higher current density, the key parameter in PEM stack cost reduction, helping to reduce electrolyser capacity cost significantly. The second is a larger stack module capable of absorbing up to 350kW of power. The larger cell area coupled with 25% more cells per stack represents a beneficial plant simplification while permitting multi-MW installations to occupy smaller sites. The drastically reduced footprint helps alleviate siting challenges, where space is highly valued, for both energy storage and hydrogen refuelling applications.
The major Power-to-Gas energy storage adoption markets today are Germany and the USA and the Company is also pleased to announce two new reference plant sales in Germany to two Technical Universities - both orders are based on the HPac platform for use in Power-to-Gas applications. Reference plant is particularly important for ITM Power in the German market and with those organisations which advise the Germany Energy Ministry. ITM Power will have four reference plant installations in Germany, including those announced here.
The Power-to-Gas market
The market need for Power-to-gas energy storage in Germany has recently been outlined in a number of high profile reports. The "Study of the requirement for electricity storage in Germany", by Agora Energiewende, identifies a requirement in Germany for electrolysis (for the Power-to-Gas, Power-to-Liquids and hydrogen mobility markets) of up to 16GW, 80GW and 130GW by the years 2023, 2033 and 2050 respectively. This is confirmed by the report, "Power-to-Gas in Transport" (a report to the Federal Ministry of Transport and Digital Infrastructure by DLR, Berlin) which estimates the markets in Germany for Power-to-Hydrogen and Power-to-SNG, in mobility applications alone, as each reaching up to 140 TWh per annum by 2050.
Phil Doran, MD, ITM Power GmbH, commented: "I am delighted that these new platforms will be launched in Germany and that we have won two further orders from important Technical Universities in Germany. This is an important step in developing our German business given the close tripartite collaboration that exists in Germany between academia, the Federal and State Governments and industry. These sales and the Hannover launch will further highlight ITM Power's technology as being more than capable of meeting the needs of the Energiewende, and of ITM Power's growing presence in Germany"