Less Ads, More Data, More Tools Register for FREE

ITM Power sells 24MW electrolyser to Linde Engineering

Fri, 28th Jan 2022 08:33

(Sharecast News) - Energy storage and clean fuel company ITM Power has sold a 24-megawatt electrolyser to Linde Engineering.
ITM Power said on Friday that the electrolyser will be installed at a site operated by Yara Norge located at Herøya, about 140 kilometres southwest of Oslo. The site covers an area of approximately 1.5 square kilometres and produces 3.0m tons of fertiliser per year.

The electrolyser equipment was due to be ready for shipment from ITM Power in the fourth quarter of 2022, with revenue set to be realised in its 2022/2023 financial year.

ITM Power stated the hydrogen required for ammonia production was currently produced from steam methane reforming, with Yara intending to start replacing grey hydrogen with green hydrogen produced from renewable energy and electrolysis. Yara has received a grant of up to NOK 283.0m (£23.6m), pending ESA approval, from Enova SF, a Government funding body aimed at investing in green solutions for hydrogen used for industrial purposes in Norway.

Chief executive Dr Graham Cooley said: "Decarbonisation of industry is critical to achieving the commitments of countries to reduce greenhouse gas emissions. Globally, the largest use today of hydrogen produced from hydrocarbons is in the production of ammonia for fertilisers. This use has to be curtailed and eventually eliminated."

As of 0830 GMT, ITM Power shares were down 0.41% at 240.80p.

Related Shares

More News
7 Jun 2024 09:45

LONDON BROKER RATINGS: Bryan Garnier raises ITM Power to 'neutral'

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and on Thursday:

6 Jun 2024 11:00

ITM Power to outperform guidance with revenue expected to triple

(Alliance News) - ITM Power PLC on Thursday said the company expects to report improved financial results in its upcoming full-year earnings report.

6 Jun 2024 08:59

ITM Power FY losses better-than-expected

(Sharecast News) - Energy storage and clean fuel company ITM Power said on Thursday that full-year underlying losses were better than initially expect...

26 Apr 2024 10:45

ITM Power strikes deal with Hygen for PME electrolyser supply

(Alliance News) - ITM Power PLC on Friday said it has been named Hygen Energy Ltd's, preferred supplier for proton exchange membrane electrolysers, un...

18 Apr 2024 14:23

Pineapple Power names executives for Ilios Hydrogen Canada acquisition

(Alliance News) - Pineapple Power Corp PLC said on Thursday it had reached agreements regarding provisional executive roles for its Ilios Hydrogen Can...

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.