RE: Be Kind Please26 Jul 2017 22:24
2. Overview of ITM
ITM manufactures integrated hydrogen energy solutions which offer rapid response and high pressure
delivery designed to meet the requirements for grid balancing and energy storage services, and for the
production of clean fuel for transport, renewable heat and chemicals. The Group operates through two
principal divisions:
10
243735 Excalibur pp01-pp16 26/01/2017 17:18 Page 10
(a) power to gas energy storage: the Group’s ‘Power-to-Gas’ model is a commercial proposition which
offers utility companies energy storage options. ITM provides grid balancing services, converting excess
energy in the power network into hydrogen for injection into the gas network.
ITM delivered the world’s first Proton Exchange Membrane Power-to-Gas plant in 2013 and supplied
a second Power-to-Gas system to RWE in 2015. More recently, the Group received its first order for
Power to Gas equipment from National Grid.
The Group considers it has a competitive advantage for Power to Gas systems because it can offer
sub-one second response times (“rapid response”) for full system turn on and turn off; and because
this rapid response electrolysis can be offered at pressure up to 80 bar.
(b) clean fuel: the Group’s refuelling model incorporates the work of national hydrogen infrastructure
initiatives to support the growth of hydrogen as a transport fuel, for use in cars and buses initially, with
further transport applications in the future. ITM has existing commercial fuel contracts with a number of
companies, and in 2016 opened two refueling stations in London as part of the HyFive programme, a
programme funded by the Fuel Cell and Hydrogen Joint Undertaking. ITM Power has also delivered its
first refueling station to a Shell forecourt which is intended to open to the public in quarter one of 2017.
The Group has won contracts to supply on-site hydrogen generation equipment for refuelling in both
the UK and California, building or to build nine stations in the UK and two in the US.
In March 2015 the Company received a strategic investment of £4.9 million from JCB, to fund working
capital and projects under contract. In February 2016 JCB invested a further £1.2 million into the Company
through the open offer announced in January 2016. JCB is the world’s third largest construction equipment
manufacturer by volume.
http://www.itm-power.com/wp-content/uploads/2017/02/circular-2017.pdf
http://www.itm-power.com/wp-content/uploads/2017/01/ITM_Interim_2016.pdf - see page 9 mytrader - technology prorgess on power density/The megawatt
scale module conserves advantages
from previous generations through a
reduced number of parts and through
patented stack decoupling, enabling agile
logistics in manufacture, commissioning
and servicing. It has been adopted
commercially in the newly launched
100MW plant design.
http://www.itm-power.com/wp-content/uploads/2017/03/Website-AIM-Info
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