ITM Power PLC ITM Linde Electrolysis GmbH & Appointment of MD (6519A)
January 23 2020 - 2:00AM
UK Regulatory
TIDMITM
RNS Number : 6519A
ITM Power PLC
23 January 2020
23 January 2020
ITM Power plc
("ITM Power", "the Group" or the "Company")
Incorporation of ITM Linde Electrolysis GmbH and Appointment of
Managing Director
ITM Power (AIM: ITM), the energy storage and clean fuel company,
is pleased to announce the incorporation of ITM Linde Electrolysis
GmbH ("ITM Linde"), a joint venture company between ITM Power and
Linde as announced in October.
ITM Linde will focus on providing global green gas solutions
using ITM Power's modular PEM electrolysis technology and Linde's
world class EPC expertise to deliver turnkey solutions to
customers.
ITM Power is also pleased to announce that Andreas Rupieper,
Head of Group R&D and Portfolio Management at Linde will be
appointed as Managing Director of ITM Linde. Before Joining Linde
as Vice President - Head of Business Unit Petrochemistry, Andreas
worked as a senior consultant for Management Engineers, now part of
PWC Strategy and before that for 13 years at Thyssenkrupp, most
recently as Project Director, EPC.
Graham Cooley, CEO of ITM Power, commented: "I am delighted that
Andreas has been confirmed as MD of the newly incorporated joint
venture, demonstrating the collaboration with Linde has proceeded
as expected and reached this next stage of development. I look
forward to working closely with Andreas as we open new markets and
customer opportunities."
Andreas Rupieper, Managing Director of ITM Linde, added:
"Hydrogen is a key facilitator in the energy transition and has
significant market potential. Joining forces with ITM Power, a
leading OEM for electrolysis-based hydrogen production systems
enables a joint market offering to serve our customers with the
best-in-class solution for their specific requirements."
For further information please visit www.itm-power.com or
contact:
ITM Power plc
Graham Cooley, CEO +44 (0)114 244 5111
Investec Bank plc (Nominated Adviser and
Broker)
Chris Sim / Jeremy Ellis / Ben Griffiths +44 (0)20 7597 5970
Tavistock (Financial PR and IR)
Simon Hudson / Edward Lee / Barney Hayward +44 (0)20 7920 3150
About ITM Power plc:
ITM Power plc manufactures integrated hydrogen energy solutions
for grid balancing, energy storage and the production of green
hydrogen for transport, renewable heat and chemicals. ITM Power plc
was admitted to the AIM market of the London Stock Exchange in
2004. In October 2019, the Company announced the completion of a
GBP58.8 million fundraise, including a subscription by Linde of
GBP38 million, together with the formation of a joint-venture with
Linde to focus on delivering green hydrogen to large scale
industrial projects worldwide. ITM Power signed a forecourt siting
agreement with Shell for hydrogen refuelling stations in September
2015, (which was extended in May 2019 to include buses, trucks,
trains and ships) and in January 2018 a deal to deploy a 10MW
electrolyser at Shell's Rhineland refinery. ITM Power announced the
lease of the world's largest electrolyser factory in Sheffield with
a capacity of 1GW (1,000MW) per annum in July 2019. Customers and
partners include Sumitomo, Ørsted, National Grid, Cadent, Northern
Gas Networks, Gasunie, RWE, Engie, BOC Linde, Toyota, Honda,
Hyundai and Anglo American among others.
About Linde
Linde is a leading industrial gases and engineering company with
2018 pro forma sales of USD 28 billion (EUR 24 billion). The
company employs approximately 80,000 people globally and serves
customers in more than 100 countries worldwide. Linde delivers
innovative and sustainable solutions to its customers and creates
long-term value for all stakeholders. The company is making our
world more productive by providing products, technologies and
services that help customers improve their economic and
environmental performance in a connected world.
For more information, please visit www.linde.com
-ends-
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END
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