ITM Power (AIM:ITM) – cracking update on Thüga Power-to-Gas project
Following its first full year of successful operation Thüga Group (Germany's largest municipal network of local and regional energy suppliers) has reported that the ground-breaking Power-to-Gas ("P2G") energy storage system incorporating ITM’s electrolyser has been declared 'technically able to participate in the secondary power market'. This means that the electrolyser is technically capable of offering grid balancing services, which increases the economic viability of the technology.
The 300kW plant is the first and only rapid response PEM electrolyser plant to be injecting hydrogen into the German gas network.
The house broker comments how it confirms that demand-side grid balancing by power-to-gas (“P2G”) for the storage of intermittent renewable energy (including wind) is increasing in likelihood as the mass market solution, and that ITM’s electrolysis platform is becoming embedded at the early stages of P2G infrastructure roll-out in the progressive German market.
Good news for ITM and the planet!