13 August 2024
ITM Power
PLC
100MW REFHYNE II contract
signed
We are pleased to announce that we have signed
a contract for the REFHYNE II project, following Shell's recent
positive Final Investment Decision (FID). ITM will supply 100MW of
TRIDENT stacks and skids to the Shell Rheinland Energy and
Chemicals Park in Germany. Linde Engineering has been chosen as the
EPC integrator and will collaborate closely with ITM.
REFHYNE II will use renewable electricity to
produce up to 44,000 kilograms of renewable hydrogen daily,
partially decarbonising fuel production at Shell's Wesseling
refinery. The electrolyser is scheduled to begin operating in
2027.
The REFHYNE II project builds on the lessons
learned from the 10MW REFHYNE I plant, which was put into operation
in 2021, and on ITM's and Linde's experience in engineering,
constructing, and operating other green hydrogen projects across
Europe.
REFHYNE II has been enabled by supportive
government policies and frameworks, including the European Union
(EU) binding targets for the use of renewable hydrogen in industry
and transport, and the German Federal Government's regulatory
framework. In addition, the project has received funding from the
EU's Horizon 2020 research and innovation programme.
Dennis Schulz, CEO of ITM, said: "Shell is a
leading global energy company, and we are proud they have selected
us for this prestigious project. The performance of our latest
generation electrolyser stacks in the REFHYNE I plant played an
important role in Shell's proceeding to FID, as did their extensive
due diligence on our technology and our capability to deliver this
large-scale commercial project."
For further information, please
visit www.itm-power.com or contact:
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ITM
Power PLC
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Justin Scarborough, Head of Investor
Relations
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+44 (0)114 551 1080
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Investec Bank plc (Nominated Adviser and
Broker)
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+44 (0)20 7597 5970
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James Rudd / Chris Sim / Ben
Griffiths
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About ITM
Power PLC:
ITM Power was founded in 2000 and ITM Power PLC
was admitted to the AIM market of the London
Stock Exchange in 2004. Headquartered in
Sheffield, England, ITM Power designs and manufactures
electrolysers based on proton exchange membrane
(PEM) technology to produce green hydrogen, the only net zero
energy gas, using renewable electricity and water.
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