Itm Power Share News (ITM)

(Sharecast News) - ITM Power announced on Monday that its wholly-owned subsidiary ITM Power GmbH has been approved for a €1.95m award for the 'SINEWAVE' project, as part of the German Ministry of Education and Research's (BMBF) hydrogen flagship project 'H2Giga'.
The AIM-traded firm said the H2Giga project focuses on the development of technology for series production and the industrialisation of electrolysis systems, and runs to March 2025.

It marked the first time ITM Power had accessed German federal funding.

The company said the SINEWAVE project would bring together the necessary scientific and technical skills to close research gaps in the field of series production of electrolysis systems.

It was dedicated to the exploration of process engineering, materials science and digital sub-disciplines, to make a "significant contribution" to the construction of efficient integrated large-scale proton-conducting membrane (PEM) electrolysis systems that would be able to produce large quantities of green hydrogen cost-effectively.

The project would thus contribute to the decarbonisation of German industry.

ITM Power said the consortium partners included coordinator Linde, as well as ITM Linde Electrolysis, ITM Power GmbH, the Helmholtz-Zentrum Dresden Rossendorf Institute of Fluid Dynamics, the Technical University of Dresden Institute of Process Engineering and Environmental Technology, and the Technical University of Munich Institute of Plant and Process Technology.

ITM Power GmbH would focus on a number of key aspects, including the education and training of experts in the field of installation, maintenance and operation of efficient large-scale electrolysers, and Researching safety training programmes for customers and technical personnel to ensure safe plant operations.

It would also develop live monitoring and reporting of operational electrolyser systems, improved reliability, availability and maintenance systems for electrolysers, and a "robust" supply chain for large-scale deployments.

"Our German subsidiary and its management team has embedded itself in that country's hydrogen discussions and debates," said chief executive officer Graham Cooley.

"Our participation in the federally-funded SINEWAVE project provides an endorsement of our place in Germany's hydrogen strategy."

At 1221 GMT, shares in ITM Power were down 1.54% at 359p.