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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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.
NR
-
RICS: Housing market continues to strengthen but 2025 could be challengingThe latest survey by the Royal Institution of Chartered Surveyors reports a resilient UK housing market, but warns of headwinds next year
-
Bitcoin price one of the most-asked questions on Alexa - here's how to buy the cryptocurrencyAccording to figures from Amazon, which cover September 2023 to November 2024, pop star Taylor Swift and Bitcoin were named among the most popular Alexa queries of 2024
