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ITM Power PLC sells storage system to German energy firm

Published: 03:04 31 Mar 2016 EDT

ITM Power PLC sells energy storage system to German green generator
Pictured is the Thuga gas-to-power plant

ITM Power PLC (LON:ITM), the energy storage and clean fuel company, has sold a 1 megawatt (MW) electrolyser system with some additional equipment to German green power firm ZEAG Energie for an undisclosed sum.

ITM expects to deliver the power-to-gas energy storage system to the customer in the first quarter of next year along with a compressor and apparatus to fill tube trailers.

The system will be owned and operated by ZEAG, but housed in a specially constructed building at Deutsches Zentrum für Luft-und Raumfahrt (DLR), the German Aerospace Centre in Lampoldshausen.

Chief executive Graham Cooley said: "We are delighted to be working with ZEAG and DLR on this important sale for ITM Power.

“Germany continues to be an important early adoption market for hydrogen fuel and power-to-gas equipment and we look forward to updating the market in the near future on further sales."

ITM has £11.4mln of projects under contract and a further £7.28mln in the final stages of negotiation, which means it has a total deal pipeline of £18.68mln.

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