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(Alliance News) - A group of companies focused on building a "world leading" green hydrogen project in Germany has been granted EUR32.4 million in funding, consortium member ITM Power PLC said on Friday.
The Refhyne II consortium was awarded the grant by the European Climate, Infrastructure & Environment Executive Agency for the development of a 100 megawatt electrolyser, which when completed will use renewable electricity to produce thousands of tonnes of green hydrogen a year.
The green hydrogen produced at the site in the Rheinland, near Cologne, Germany will be used to help decarbonise other industries, ITM explained.
"Having successfully delivered the 10 MW Refhyne I project, the consortium partners will take the experience and learning they have gained to scale up tenfold for Refhyne II," commented ITM Chief Executive Graham Cooley.
"This is a world leading project that demonstrates the increasing commitment by governments and industry to decarbonise, at scale, using zero carbon footprint green hydrogen. We are delighted to be a part of it."
Refhyne II is the follow-on project to Refhyne I, Europe's largest PEM hydrogen electrolyser which began operations in July and produces up to 1,300 tonnes of green hydrogen a year.
An engineering project design phase will be followed by a final investment decision expected in late 2022 with delivery then scheduled for 2024, ITM noted. Funding was previously received from the EU's Horizon 2020 research and innovation programme.
The Refhyne II consortium comprises Shell Deutschland, ITM Power, Linde Engineering, Linde Electrolysis, Fundacion Tecnalia Research & Innovation, Element Energy and Concawe, and is coordinated by Sintef.
ITM Power shares were trading 2.7% higher in London on Friday morning at 393.72 pence each.
By Will Paige; willpaige@alliancenews.com
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