04 Oct 2012 09:10:46
Letter of intent signed with German utility
ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed a letter of intent with one of Germany's top 10 local utility companies to investigate power-to-gas energy storage.
The integration of renewable energies into the existing electricity and gas networks in Germany presents great challenges to energy providers. The collaboration will investigate the potential of energy storage by the production of hydrogen from ITM Power's rapid response electrolysis equipment and build a plant to test the performance and operation.
Phil Doran, MD, ITM Power GmbH, commented: "This is our first key development in the German utility market and I am delighted that this particular, forward-looking utility has recognised ITM Power's expertise in the energy storage and clean fuel sector. There are many significant opportunities in Germany including energy storage using hydrogen gas injection into the gas grid and clean fuel provision for captive fleets and road vehicles."
Dr Graham Cooley, CEO, ITM Power plc added: "As a fully integrated energy company, this utility has a deep understanding of the need for energy storage and maximising the use of renewable power and is perfectly placed to demonstrate the benefits of hydrogen gas grid injection."
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