ITM Power is heading Down Under to tap into new market
A YORKSHIRE-BASED hydrogen power specialist is hoping to cash in on the soaring popularity of renewable energy in Australia.
ITM Power, the energy storage and clean fuel company, has announced the formation of ITM Power Pty Ltd, a wholly owned subsidiary incorporated in Australia to develop the market for ITM Power’s rapid response electrolyser technology.
In a statement, Sheffield-based ITM said: “Australia is now the world’s second-largest LNG exporter and is building momentum to develop a similar export market for hydrogen.
“The Australian Renewable Energy Agency (ARENA), an Australian government agency established to accelerate Australia’s shift to secure, affordable and reliable renewable energy, announced in May 2017 that exporting renewable energy... will form one of its four core investment priorities.”
Dr Neil Thompson has been appointed as the managing director of the newly formed company.
Mr Thompson is an experienced executive director who, before joining ITM Power, was the managing director and principal risk mitigation consultant at Pine River Business Planning, as a Member of the Institute of Management Consultants.
He started his career as an electrical engineering cadet in the Australian power industry in the 1980s before moving to radiation processing systems for the aerospace and automotive industries.
ITM Power’s chief executive, Dr Graham Cooley, said yesterday: “We are delighted to announce the formation of ITM Power Pty Ltd and the appointment of Dr Neil Thompson as the MD of the newly formed company.
“Australia is an exciting new market for green hydrogen production and we are delighted to make this important first step to allow ITM Power to capitalise on the significant growth opportunities and accelerating momentum in the hydrogen sector in Australia.”
Mr Thompson said: “I have been collaborating with ITM Power to develop a market entry strategy for Australia for a number of months, having first interacted with the company 10 years ago.
“I am delighted to be appointed as MD of the newly-formed Australian subsidiary and I look forward to developing the business in this exciting new market.”
I am delighted to be appointed as MD of the Australian subsidiary. Dr Neil Thompson, managing director of ITM Power Pty Ltd