ITM Power (AIM: ITM), the energy storage and clean fuel company, and Iwatani Corporation of America ('ICA'), a wholly owned subsidiary of Iwatani Corporation (8088: Tokyo Stock Exchange) are pleased to announce that the two companies have signed a collaboration agreement for the deployment of multi MW electrolyser based hydrogen energy systems in North America.
ITM Power and ICA have a shared vision to reduce pollutants and improve air quality by offering renewable hydrogen to the transportation, energy storage and renewable energy sectors in North America. The collaboration agreement enables the companies to share opportunities and, where a commercial case exists, work together on an exclusive basis to deploy ITM Power's world leading PEM electrolysers and Iwatani's leading gas handling and deployment solutions.
Particular areas of interest lie in the California hydrogen refuelling station market and large-scale liquid and gaseous renewable hydrogen production for domestic and export markets.
Joe Cappello, CEO Iwatani Americas, commented: 'We are very pleased to have signed this agreement and to be collaborating with ITM Power to meet the needs of customers who have committed to transitioning to low-carbon-intensity derived hydrogen as an energy source. ITM Power's world leading electrolysers and Iwatani's vision for growth in the North American green hydrogen market align very well and we look forward to deploying projects together.'
Dr Graham Cooley, CEO, ITM Power, added: 'Iwatani Corporation is a recognized leader in the hydrogen industry, and we are delighted to be collaborating with the company in North America. Transport refuelling is just the tip of the iceberg for demand for hydrogen from renewable sources and this partnership will be well positioned to participate in this exciting and rapidly growing industry.'
For further information please visit www.itm-power.com or contact:
ITM Power plc Andy Allen, Finance Director
+44 (0)114 244 5111
Iwatani Corporation of America Joe Cappello
jscappello@iwatani.com
Investec Bank plc (Nominated Adviser and Broker) Chris Sim / Jeremy Ellis
+44 (0)20 7597 5970
Tavistock (Financial PR and IR) Simon Hudson / Barney Hayward /Edward Lee
+44 (0)20 7920 3150
Relevant initiatives are being promoted in cooperation with Japan H2 Mobility, which was established jointly by infrastructure operators, automakers, financial investors and other stakeholders as the driving force for developing hydrogen-refuelling stations. Iwatani also participates in initiatives involving carbon-free hydrogen, including a demonstration project for the production, transportation and storage of large quantities of liquid hydrogen in Australia and the Fukushima Plan for a New Energy Society, one of the world's largest hydrogen production projects, using renewable energy with zero CO2 emissions. Iwatani is an Executive Board Member of the California Fuel Cell Partnership and Member of the California Hydrogen Business Council.
Iwatani Corporation of America has corporate offices in Houston, Texas, and Santa Clara, California.
For further information please visit www.iwatani.com
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ITM Power plc published this content on 19 November 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 19 November 2019 07:09:03 UTC