ITM shakes hands over renewable power deal

ITM Power, an energy storage and clean fuel company, has teamed up with GMI Renewable Energy on a renewable power project.

The pair are to offer integrated renewable power generation and hydrogen production for back-up power, industrial processes and refuelling solutions for materials handling equipment in commercial buildings.

Under the agreement, ITM Power will also provide, if required, the fuel cell systems to enable customers to produce zero carbon hydrogen at the point of use for use in materials handling solutions, back up power and industrial processes.

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ITM Power Chief Executive Officer, Dr Graham Cooley, said: "A fully integrated renewable energy system which includes hydrogen fuel for applications like back up power, forklifts and pallet trucks is a unique market offering".

The share price fell 3.15% to 50p by 09:35.

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