| USA. Hydrogen Engine Center announces agreement with ITM Power Plc |
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| Tuesday, 14 November 2006 | |
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Company news: Hydrogen Engine Center, Inc., (HEC) has announcesd that it has signed a Memorandum of Understanding (“MoU” or/and the “Agreement”) with ITM Power Plc (ITM), one of the UK’s leading innovators within the alternative energy sources industry. HEC is a US company that designs, manufactures and distributes alternative fuel internal combustion engines for the industrial and power generation market. The parties plan to jointly develop products for a non-polluting, grid-independent energy system which can undergo early field trial testing. The purpose of the MoU is to provide a platform from which the two organizations can develop their respective technologies resulting in mutual benefits. HEC anticipates that ITM can offer an assured supply of hydrogen using ITM’s low-cost electrolyzer technology. ITM anticipates that HEC will provide an early route to the provision of a complete system package using HEC's proven engine technology. The combination of a hydrogen fueled internal combustion engine and a low-cost electrolyzer could provide the essential technology to convert low-value, intermittent, renewable energy (wind, solar) into a reliable, non-fossil energy supply. Subject to the production of satisfactory results from the field trials, HEC and ITM will progress into detailed discussions with the intention of entering a more formal commercial arrangement. In making the announcement Ted Hollinger, President, HEC, stated, “Both ITM and HEC have been developing technologies over the past few years and are now ready to bring them to market. By combining HEC’s hydrogen engines with ITM’s new low-cost electrolyzer, customers will have access to turn-key hydrogen-fueled systems.” Jim Heathcote, CEO, ITM Power Plc, said: “We are delighted to be working with the team at HEC. I believe that the collaboration of HEC and ITM brings together complementary technologies that could provide significant commercial opportunities for both companies in the North American and European markets.” |
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| Last Updated ( Tuesday, 14 November 2006 ) |
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