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ITM Power and Iwatani to collaborate in North America

ITM and Iwatani both want to reduce pollutants and improve air quality in North America by offering low-carbon-intensity derived hydrogen as an energy source.

ITM Power PLC -
"We are very pleased to have signed this agreement and to be collaborating with ITM Power," said Joe Cappello, CEO of Iwatani Americas

ITM Power PLC (LON:ITM) has signed a collaboration agreement with Japan’s Iwatani Corporation to deploy multi-megawatt electrolyser-based hydrogen energy systems in North America.

The AIM-listed energy storage and clean fuel company said the agreement would enable the companies to share opportunities and, where a commercial case exists, work together on an exclusive basis to deploy ITM Power’s proton exchange membrane (PEM) electrolysers and Iwatani’s 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, the chief executive officer (CEO) of Iwatani Americas, said the companies would work together to meet the needs of customers who have committed to making the transition 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,” he said.

Dr Graham Cooley, the CEO of ITM Power, added: “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.”

Quick facts: ITM Power PLC

Price: 257 GBX

Market: AIM
Market Cap: £1.23 billion

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