LONDON (ShareCast) - (ShareCast News) - Clean energy company ITM Power has been awarded a grant to undertake a power-to-gas feasibility study from the British Columbia (BC) government ministries of energy, mines and petroleum resources and jobs, trade and technology.
The grant, which was announced on Thursday, will see the company undertake an economic feasibility study for the large scale centralised production of renewable hydrogen in BC as the initial phase of the project.

Steve Jones, managing director of ITM Power, said: "We are excited to be working with British Columbia and our other world leading partners to investigate the huge potential of large scale renewable hydrogen production, in a project that further endorses ITM Power's product strength and operational capability."

The project has the potential to become on of the largest of its kind globally, with a total considered capacity of hydrogen electrolysis at 300MW.

The value of the potential project is not currently accounted for in ITM Power's opportunity pipeline, with the company set to consider the construction of a pilot plant if the feasibility study yields a positive result.

Michelle Mungall, British Columbia's minister of energy, mines and petroleum resources, said: "This technology has the potential to make British Columbia a major player in the worldwide hydrogen economy. This project is a clear indicator that, as we move toward a strong, sustainable energy future, B.C.'s renewable and innovative clean energy resources make us an attractive destination for global investment."

Success for the Canadian project could see hydrogen electrolysis used to supply both domestic and international export demand.

The project, due to commence in the second quarter of 2018, will last for 12 months and includes input from Chiyoda Corporation, Mitsui & Co., Ltd. and G&S Budd Consulting Ltd.

As of 1503 BST, ITM Power's shares were up 1.76% at 31.34p.

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