ITM Power wins grant to participate in hydrogen fuel projectAugust 26, 2013
Hydrogen fuel project to take place in Europe
ITM Power, a leading developer of hydrogen fuel cells, has won a grant to participate in the CommONEnergy project, a European initiative meant to promote the use of hydrogen fuel and energy storage technologies for non-residential purposes. Europe has become a hub of activity when it comes to renewable energy and many European countries have been showing significant interest in hydrogen fuel. Much of this interest has to do with how these energy systems can be used in transportation, but fuel cells are beginning to break into new sectors.
Grant enables ITM Power to develop energy storage solution
ITM Power has won a $400,000 grant that will help the company develop an energy storage solution for non-residential buildings in Europe. The company’s initial role in the CommONEnergy project is to integrate a storage and hydrogen fuel system into a shopping center. ITM Power will be working with other prominent European companies that are part of the CommONENERGY project over the next four years.
Efficient storage solution could be a boon for businesses
The company believes that energy storage solutions could be a major benefit for the environmental and the fuel cell sector as a whole. With the world becoming more conscious of energy consumption, the need for efficient storage solutions is becoming more pronounced. ITM Power has experience in this field and has been developing storage solutions for some time. Hydrogen fuel is also beginning to grow more popular among businesses that are interested in mitigating their use of fossil-fuels.
Europe showing strong support for hydrogen fuel
Europe is considered one of the most attractive markets for the fuel cell industry. Several countries have shown strong support for hydrogen fuel cells, but there are still many challenges that make participating in this market somewhat difficult. Legislative hurdles have proven to slow the adoption of hydrogen fuel cells and the notoriously high cost of these energy systems have also limited their support among consumers and businesses alike.