ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the sale of a 1.4MW electrolyser to Sumitomo Corporation (“Sumitomo”).
Sale of 1.4MW Electrolyser to Sumitomo Corporation
First MW scale electrolyser system ITM Power will deploy in Japan
ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the sale of a 1.4MW electrolyser to Sumitomo Corporation (“Sumitomo”). The deployment will be used as an important reference plant for further sales in Japan through our partnership with Sumitomo.
This will be the first MW scale electrolyser system ITM Power has deployed in Japan. The HGas2SP product will undergo modification to ensure hydrogen supply pressure is below 10 bar in order to comply with Japan’s High Pressure Gas Safety Act. ITM Power and Sumitomo are continuing their collaboration in the areas of business development, local compliance and after sale support to ensure a comprehensive green hydrogen offering in Japan.
Mr Hajime Mori, GM Energy Division of Sumitomo Corporation, said: “This is a significant step forward for the Japanese electrolyser market. Sumitomo is participating in several green hydrogen projects in Japan and ITM Power’s technology will contribute in scaling up and cost down of these projects in near future.”
Dr Graham Cooley, CEO of ITM Power, said: “I am delighted to be able to report tangible progress in Japan. Our partner Sumitomo continues to bring opportunities to ITM Power for evaluation and we are both working to identify synergies within the wider Sumitomo Corporation. This project is an important reference deployment and we look forward to the execution phase of the project and further progress in the important Japanese market.”
For further information please visit www.itm-power.com or contact:
ITM Power plc
+44 (0)114 551 1205
James Collins, Head of IR||
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 2020 ITM announced a successful fundraise and a strategic investment from Snam S.p.A., a major Italian energy infrastructure company, totalling £172m. In October 2019, the Company announced the completion of a £58.8 million fundraise, including a subscription by Linde of £38 million, together with the formation of a joint-venture with Linde to focus on delivering renewable hydrogen to large scale industrial projects worldwide. 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, National Grid, Cadent, Northern Gas Networks, Gasunie, RWE, Engie, BOC Linde, Toyota, Honda, Hyundai and Anglo American among others.
About Sumitomo Corporation
Sumitomo Corporation is a leading Fortune 500 global trading and business investment company with 132 locations (Japan: 22, Overseas: 110) in 66 countries and regions. The entire Sumitomo Corporation Group consists of more than 900 companies. Sumitomo Corporation conducts commodity transactions in all industries utilising worldwide networks, provides customers with financing, serves as an organizer and a coordinator for various projects, and invests in companies to promote greater growth potential. SC’s core business areas include Metal Products, Transportation and Construction Systems, Infrastructure, Media and Digital, Living Related and Real Estate, Mineral Resources, Energy, and Chemical and Electronics.