ITM Power teams up with University of Keele on HyDeploy project

Energy storage and clean fuel outfit ITM Power reported an “important advance” in its quest to reduce carbon dioxide emissions on Tuesday, as it teamed up with the University of Keele on its HyDeploy project.

ITM Power will work in conjunction with the University to try and establish the potential for blending up to 20% hydrogen into a normal gas supply in an attempt to reduce emissions.

The AIM-listed outfit said HyDeploy, the £6.8m project, funded by Ofgem and led by Cadent and Northern Gas Networks, will see the duo work hand-in-hand over the next year to provide a safe gas alternative to consumers that will not affect how they use their existing domestic appliances.

ITM highlighted the fact that it will be supplying the electrolyser system for the trial.

Chief executive Graham Cooley, said: "The significance of this announcement, allowing up to 20% green hydrogen to be injected into a UK gas network, is hard to overstate. Power-to-gas in the UK is under active consideration by all gas grid operators and its significance as an energy storage technique is growing globally. This announcement is an important advance."

As of 1200 BST, ITM Power shares had shot up 13.09% to 31.10p.