StockMarketWire.com - Energy storage group ITM Power welcomed news that the Australian government would support a project for which it was supplying an electrolyser.
The government said it would back BOC to produce hydrogen from renewable energy at its Bulwer Island gas facility in Brisbane.
The pilot project would involve the installation of a 220 kW electrolyser provided by ITM Power, plus a 100 kW solar array to produce up to 2400 kilograms of renewable hydrogen via electrolysis per month.
The had provided A$950k in grant funding towards the A$3.1m project.
At 1:42pm: [LON:ITM] ITM Power PLC share price was +1.45p at 38.35p