leadf
logo-loader
viewITM Power PLC

ITM Power announces completion of 300MW renewable hydrogen feasibility study

The energy storage and clean fuel company said the results would be used to consider the installation of potentially the world's largest hydrogen production facility in British Columbia

ITM electrolyser
The study was based on ITM Power’s PEM electrolyser technology

ITM Power PLC (LON:ITM) has announced the completion of a techno-economic feasibility study for the large-scale centralised production of renewable hydrogen in British Columbia (BC).

The energy storage and clean fuel company, which led the study, said it had analysed the potential of over 10 locations in the Canadian province for the installation and operation of an up to 300MW (megawatt) electrolysis plant that would convert renewable energy into hydrogen.

READ: ITM Power and Shell 10MW electrolyser groundbreaking shows a collaboration primed for great success

ITM Power said the study had highlighted a number of “attractive opportunities” for BC to leverage its renewable electricity capacity to become a world leader in the production and export of renewable electrolytic hydrogen.

The study, which was funded by the BC government, was based on ITM Power’s polymer electrolyte membrane (PEM) technology as well as a SPERA Hydrogen, a liquid organic hydrogen carrier developed by Japanese engineering firm Chiyoda.

ITM Power said that the results of the study would be used to consider the installation of a facility in BC which would have the potential to be the world’s largest hydrogen production facility.

Steve Jones, managing director of ITM Power, said the results of the study highlighted BC as “one of the world's best locations for the generation and export of large-scale renewable hydrogen”.

In afternoon trading on Tuesday, ITM Power’s shares were 6.2% higher at 37.10p.

 -- Updates share price --

Quick facts: ITM Power PLC

Price: 259 GBX

AIM:ITM
Market: AIM
Market Cap: £1.24 billion
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

David Lenigas reckons Greatland Gold's Havieron is 'once in a generation' find

David Lenigas discusses Greatland Gold (LON:GGP) after the company pushed through £1bn market capitalisation last week. Australian gold major Newcrest Mining (ASX:NCM) has a farm-in agreement with GGP to explore and develop the Havieron gold-copper project and earn 70% interest in the 12...

9 hours, 7 minutes ago

2 min read