ITM Power secures contract with AMEC and National Grid

24th Jan 2014 11:06

ITM Power has secured a commercial contract with AMEC and National Grid to assess the deployment of Power-to-Gas Energy Storage technology to reduce the energy losses in the gas network.The company will review the cost and energy benefit of deploying Power-to-Gas technology at specific sites on the gas network to reduce energy losses and increase system efficiency.Chief Executive Graham Cooley, said: "ITM Power is delighted to be working with National Grid and AMEC on this important deployment study which has very significant market potential in the UK and worldwide." Shares rose 7.89% to 41p at 11:18 on Friday. RD