REG - ITM Power PLC - 100MW REFHYNE II contract signed

ITM PowerAnnouncement

13/08/2024 07:15

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RNS Number : 2285A  ITM Power PLC  13 August 2024

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
(http://www.itm-power.com/)  or contact:

 

 ITM Power PLC
 Justin Scarborough, Head of Investor Relations    +44 (0)114 551 1080

 Investec Bank plc (Nominated Adviser and Broker)  +44 (0)20 7597 5970
 James Rudd / Chris Sim / Ben Griffiths

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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