14th Jun 2016 08:37
LONDON (Alliance News) - Energy storage and clean fuel company ITM Power PLC on Tuesday said it will receive funding through the Hydrogen Mobility Europe 2 project.
The six-year project will include 37 partners in Europe and involve the deployment and operation of 1,230 fuel-cell vehicles and the addition of 20 extra hydrogen-refuelling stations to the European network. It will test the ability of electrolyster hydrogen-refuelling stations to help balance the electrical grid.
ITM will get EUR5.1 million from the EUR35.0 million project to deploy three new dual-pressure hydrogen refuelling station assets in order to expand the UK hydrogen refuelling network.
Shares in ITM were up 1.4% to 17.75 pence Tuesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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