18th Nov 2013 10:14
LONDON (Alliance News) - ITM Power PLC Monday said it has signed a memorandum of understanding with Netzdienste Rhein-Main GmbH, a 90% subsidiary of Mainova Aktiengesellschaft GmbH.
The energy storage and clean fuel company said the companies will jointly identify and quote for power-to-gas projects in Germany and internationally.
Under the terms, NRM will have exclusivity to deploy ITM Power plants in its home state of Hessen in Germany and will be the company's preferred partner for projects in other German states and internationally.
The companies have worked together for the last year and ITM Power has deployed its PEM Electrolysis Power-to-Gas plant at the Mainova Aktiengesellschaft site in Frankfurt am Main, where compliant gas mixing and grid injection infrastructure designed and built by NRM is already in place.
ITM Power shares were up 4.0% to 45.75 pence Monday.
By Tom McIvor; [email protected]; @TomMcIvor1
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