ITM Power (AIM:ITM) -Sale of another Power-to-Gas Plant great news
The AIM quoted energy storage and clean fuel company has announced the encouraging news that it has won a competitive tender for the sale of a rapid response PEM Power-to-Gas electrolyser system from RWE Deutschland AG.
The electrolyser system is one of ITM Power’s CE marked HGas platforms, which has been widely demonstrated in a Power-to-Gas installation in Frankfurt. RWE is one of Europe’s five leading electricity and gas companies, with 2013 revenues of €53bn. The deployment is going to be quite rapid with the full contract to be recognised in the ITM financial year ending April 2015. The plant also comes with a two year warranty and ITM Power is supplying a three year after sales support contract. The contract offers further credence to ITM’s brilliant polymer electrolyte membrane electrolysis platform technology and its potential…