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(Alliance News) - ITM Power PLC on Wednesday said the West Australian government is investing around AUD225,000, about GBP128,000, with ITM Power Pty Ltd to advance hydrogen electrolyser manufacturing.
"Electrolysers are a core component of producing renewable hydrogen through electrolysis, a chemical process which separates water into hydrogen and oxygen molecules using electricity," the Western Australian government said.
The South Yorkshire-based energy storage and clean fuel firm ITM explained that electrolyser manufacturing is a key initiative in implementing the Western Australian Renewable Hydrogen Strategy.
The investment follows the government inviting a shortlist of electrolyser manufacturers to submit an outline for a business case for electrolyser assembly and manufacturing, ITM said.
The company added that the business case aims to understand the hydrogen industry's potential for building a strong electrolyser and renewable hydrogen component manufacturing industry within Western Australia.
"The business case is expected to increase the depth of industry information available, leverage funding from the private sector, promote competition and signal to the market that WA is serious about renewable hydrogen," the company added.
ITM Power Pty Managing Director Neil Thompson said: "Western Australia's forward-thinking government seeks to lead the way in Australia in the manufacture of the equipment needed to produce renewable hydrogen. This sensible approach can deliver jobs and supply chain opportunities in the State and we are pleased to be working with the government on this first step."
Shares in ITM Power were down 1.1% to 96.57 pence each in London on Wednesday mid-morning.
By Sophie Rose; sophierose@alliancenews.com
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