TIDMITM
RNS Number : 5415L
ITM Power PLC
13 January 2021
13 January 2021
ITM Power plc
("ITM Power" or "the Company")
Sale to Linde of World's Largest PEM Electrolyser
ITM Power (AIM: ITM), the energy storage and clean fuel company,
is pleased to announce the sale to Linde of a 24MW electrolyser to
be installed at the Leuna Chemical Complex in Germany. The full
text of the Linde announcement is set out below.
Linde to Build, Own and Operate World's Largest PEM Electrolyzer
for Green Hydrogen
Guildford, UK, January 13, 2021 - Linde (NYSE: LIN; FWB: LIN)
today announced it will build, own and operate the world's largest
PEM (Proton Exchange Membrane) electrolyzer plant at the Leuna
Chemical Complex in Germany.
This new 24 megawatt electrolyzer will produce green hydrogen to
supply Linde's industrial customers through the company's existing
pipeline network. In addition, Linde will distribute liquefied
green hydrogen to refueling stations and other industrial customers
in the region. The total green hydrogen being produced can fuel
approximately six hundred fuel cell buses driving 40 million
kilometers and saving up to 40,000 tons of carbon dioxide tailpipe
emissions per year.
The electrolyzer will be built by ITM Linde Electrolysis GmbH, a
joint venture between Linde and ITM Power, using high-efficiency
PEM technology. The plant is due to start production in the second
half of 2022.
"Clean hydrogen is a cornerstone of the German and EU strategies
to address the challenge of climate change. It is part of the
solution to help reduce carbon dioxide emissions across many
industries, including chemicals and refining," said Jens Waldeck,
President Region Europe West, Linde. "This project shows that
electrolyzer capacity continues to scale up and it is a stepping
stone towards even larger plants."
Linde is a global leader in the production, processing, storage
and distribution of hydrogen. It has the largest liquid hydrogen
capacity and distribution system in the world. The company also
operates the world's first high-purity hydrogen storage cavern,
coupled with an unrivaled pipeline network of approximately 1,000
kilometers to reliably supply its customers. Linde is at the
forefront in the transition to clean hydrogen and has installed
close to 200 hydrogen fueling stations and 80 hydrogen electrolysis
plants worldwide. The company offers the latest electrolysis
technology through its joint venture ITM Linde Electrolysis
GmbH.
Graham Cooley, CEO of ITM Power, said: "This is the first sale
via our joint venture with Linde and is currently the world's
largest announced PEM electrolyser. This is a significant addition
to our sales pipeline and illustrates how the capacity and
efficiency of our new factory allows us to tender for much larger
scale projects. It demonstrates the growing commitment by industry
to use green hydrogen produced by electrolysis to decarbonise
production processes. We look forward to working closely with Linde
to deliver this exciting project."
Andreas Rupieper, MD ILE GmbH said: " ITM Linde Electrolysis
GmbH is delighted to have received this order for the world's
largest PEM electrolyser from Linde plc. The close working
relationship between the ITM Power engineering team and Linde
Engineering in Dresden is driving forward our industrial scale
offering to help customers reduce their CO2 emissions. Because we
have well-engineered and integrated turn key solutions available
today for customers, we feel confident that this important 24MW
project is just the beginning of our journey together."
For further information please visit www.itm-power.com or
contact:
ITM Power plc +44 (0)114 263 7646
James Collins, Head of IR ir@itm-power.com
Investec Bank plc (Nominated Adviser
and Broker) +44 (0)20 7597 5970
Jeremy Ellis / Chris Sim / Ben Griffiths
Tavistock (Financial PR) +44 (0)20 7920 3150
Simon Hudson / Edward Lee / Tim Pearson
About ITM Power plc:
ITM Power plc manufactures integrated hydrogen energy solutions
for grid balancing, energy storage and the production of renewable
hydrogen for transport, renewable heat and chemicals. ITM Power plc
was admitted to the AIM market of the London Stock Exchange in
2004. In October 2019, the Company announced the completion of a
GBP58.8 million fundraising, including an investment by Linde of
GBP38 million, together with the formation of a joint venture with
Linde to focus on delivering renewable hydrogen to large-scale
industrial projects worldwide. In November 2020, ITM Power
completed a GBP172m fundraising, including a GBP30m investment by
Snam, one of the world's leading energy infrastructure operators.
ITM Power signed a forecourt siting agreement with Shell for
hydrogen refuelling stations in September 2015 (which was extended
in May 2019 to include buses, trucks, trains and ships), and in
January 2018 a deal to deploy a 10MW electrolyser at Shell's
Rhineland refinery. ITM Power announced the lease of the world's
largest electrolyser factory in Sheffield with a capacity of 1GW
(1,000MW) per annum in July 2019. Customers and partners include
Sumitomo, Ørsted, Phillips 66, Siemens Gamesa, National Grid,
Cadent, Northern Gas Networks, Gasunie, RWE, Engie, BOC Linde,
National Express, Toyota, Honda, Hyundai, Optimal and Anglo
American among others.
About Linde
Linde is a leading global industrial gases and engineering
company with 2019 sales of $28 billion (EUR25 billion). We live our
mission of making our world more productive every day by providing
high-quality solutions, technologies and services which are making
our customers more successful and helping to sustain and protect
our planet.
The company serves a variety of end markets including chemicals
& refining, food & beverage, electronics, healthcare,
manufacturing and primary metals. Linde's industrial gases are used
in countless applications, from life-saving oxygen for hospitals to
high-purity & specialty gases for electronics manufacturing,
hydrogen for clean fuels and much more. Linde also delivers
state-of-the-art gas processing solutions to support customer
expansion, efficiency improvements and emissions reductions.
-ends-
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