Last checked at 29 Jun 2016 07:00
29 June 2016
ITM Power plc
("ITM Power" or "the Company")
Sale of an Integrated Refuelling Station to Hydrogène de France
ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the sale of an integrated hydrogen refuelling station (HRS) with on-site generation to Hydrogène de France (HDF), for deployment in France. The contract is worth €1.5m to ITM Power before follow-on contracts such as maintenance agreements. The electrolyser HRS selection was based on HDF's usual competitive tender process. The station is targeted to serve both local captive fleets of Fuel Cell Range Extender-Electric Vehicle vans with a 350bar refueling technology and Fuel Cell Electric Vehicle with 700bar refueling technology.
HDF acts as an operator of hydrogen energy to exploit the potential of hydrogen as a fuel and deploys hydrogen refuelling assets in France to prepare for future large scale deployments of fuel cell vehicles and buses. This is part of the H2 Mobilité France consortium strategy to create and then interlink regional HRS clusters across France. HDF will be responsible for the purchase, installation, operation and maintenance of the station, as well as the preparation of the HRS site.
The HRS will be commissioned mid-2017. The electrolyser HRS will be partly funded by the European Union as part of the H2ME2, EU FCH JU funded project. As part of this project, HDF will be able to test the operation of the electrolyser in a live market to provide grid balancing services.
Dr Graham Cooley, CEO, ITM Power commented: "We are delighted to be working with HDF on this important sale for ITM Power. France is becoming a leader in the development of hydrogen mobility infrastructure and we look forward to further sales."
Damien Havard, CEO, HDF commented: "ITM Power's skills in systems management were essential in our choice. This equipment is not only the first step in our deployment of hydrogen mobility but also a key component in our offer of grid balancing services."
ITM Power plc Graham Cooley, CEO | +44 (0)114 244 5111 |
Zeus Capital Dan Bate / Andrew Jones / Hugh Kingsmill Moore / Alex Davies | +44 (0)20 3829 5000 |
Tavistock Simon Hudson / James Collins | +44 (0)20 7920 3150 |
About ITM Power plc:
ITM Power manufactures integrated hydrogen energy solutions which are rapid response and high pressure that meet the requirements for grid balancing and energy storage services, and for the production of clean fuel for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and is a founder member of the Social Stock Exchange. The company received £4.9m as a strategic investment from JCB in March 2015; signed a forecourt siting agreement with Shell in September 2015 and a fuel agreement with Toyota in October 2015. The Company currently has £20.44m of projects under contract and a further £0.02m of contracts in the final stages of negotiation constituting a total pipeline of £20.46m which is subject to exchange rate variation.
www.itm-power.com
About Hydrogène de France (HDF)
Hydrogène de France (HDF) was established in 2012 by Immosun Solutions, a company with expertise in renewable energy. Today, HDF is an hydrogen energy operator which. It exploits the potential of hydrogen as a fuel as well as provides solution for mass storage energy. HDF offers a comprehensive storage system to grid regulation, project engineering and deployment skills to hydrogen projects. HDF is a member of AFHYPAC, the French association of hydrogen and fuel cells, and a member of Nouvelle France Industrielle, the French grouping to provide the roadmap for future industry in France. Since 2012, HDF has been working on the ClearGen Demo project, supported by the FCH-JU,to implement a large stationary fuel cell of 1 MW using by-product hydrogen. . HDF is also involved in the relaunch of Solvay's fuel cell of 1MW reflecting HDF's skills on the high power energy market.
www.hdf-energie.com
About the FCH JU
The Fuel Cells and Hydrogen Joint Undertaking (FCH JU) is a unique public private partnership supporting research, technological development and demonstration activities in fuel cell and hydrogen energy technologies in Europe. Its aim is to accelerate the market introduction of these technologies, realising their potential as an instrument in achieving a carbon-lean energy system.
The three members of the FCH JU are the European Commission, fuel cell and hydrogen industries represented by the NEW Industry Grouping and the research community represented by Research Grouping N.ERGHY.
The FCH JU awarded the H2ME 2 project under grant agreement number 700350.
About H2ME 2
This €100 million demonstration project is co-funded with €35 million from the Fuel Cells and Hydrogen Joint Undertaking (FCH JU), a public private partnership supporting fuel cell and hydrogen energy technologies in Europe.
Partners include project lead Element Energy, alongside AGA, Air Liquide Advanced Business, Air Liquide Advanced Technologies, AREVA H2GEN, Audi, BMW, Cenex, City of Copenhagen (Kobenhavns Kommune), Communaute Urbaine Du Grand Nancy, CNR, Daimler, EIFER, GNVERT, H2 Logic, H2 Mobility Deutschland, Honda, Hydrogene de France, HYOP, hySOLUTIONS, Icelandic New Energy Ltd, Intelligent Energy, Islenska Vetnisfelagid (H2 Iceland), ITM Power, McPhy Energy, Michelin, Netherlands Ministry of Infrastructure and the Environment (Ministerie Van Infrastrutuur en Milieu), Nissan, OPEN ENERGI, Renault, Renault Trucks, SEMITAN, Stedin, STEP, Symbio FCell, The Danish Partnership for Hydrogen and Fuel Cells (Partnerskab for brint of braensdels cellar), The University of Manchester.
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