27th May 2014 10:03
LONDON (Alliance News) - ITM Power PLC Tuesday said it has launched an optimised standard product platform tailored to its target markets of energy storage and clean fuel applications.
The energy storage and clean fuel energy company said the product is in response to commercial demand and accommodates the requirements of all existing Hydrogen Mobility programmes and megawatt scale power-to-gas.
ITM said it currently has GBP5.2 million of equipment under contract funded by commercial sales and collaborative project funding and has announced a further GBP1.9 million in the final stages of contract negotiation.
The company said many of these electrolyser systems are repeats of the same platform, which is already yielding cost savings.
ITM shares were quoted up 1.4% at 29.40 pence Tuesday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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