Business
Strategic Agreement
Strategic Agreement.
About this update from Itm Power Plc
[{"type":"text","content":"\n RNS Number : 2346I ITM Power PLC 08 March 2010 \n \n\n8 March 2010 \n \n \nITM Power Plc\n(\"ITM Power\" or \"the Company\")\n\nAgreement with Ballast Nedam Sustainablity Services\n \nITM Power (AIM: ITM), the energy storage and clean fuel company, is delighted to announce that it has signed a Memorandun of Understanding with Ballast Nedam Sustainability Services B.V. (\"B-N\") part of the Ballast Nedam Group, a Dutch construction and infrastructure development company, of Ringwade 71, 3439 LM Nieuwegein, Netherlands, for the exclusive provision of hydrogen energy systems for the the \"Autarc\"(autonomous floating office). ITM will contribute its design and technology expertise to the Autarc project to produce a self contained clean energy system. Ballast Nedam and ITM will seek to apply such solutions in the domestic built environment and Ballast Nedam will have exclusive rights to do so in the Benelux group of countries. \n \nDr Graham Cooley, CEO ITM Power commented; \"The agreement with Ballast Nedam Sustainability Services provides ITM with an excellent opportunity to show case its energy storage and clean fuel technology in an \"off-grid\" situation. The Autarc, will be sited at various locations around the world, to demonstrate the virtues of a green office or green home environment based on hydrogen technology. ITM Power and Ballast Nedam will in addition be addressing the application of zero-carbon sustainable domestic buildings within the Benelux group of countries\". \n \n\"Ballast Nedam is a major player in infrastructure and construction projects in the Netherlands and we look forward to providing expertise to add value to the sustainable proposition of their projects.\"\n \nMr Ron Von Wilk, Director of Ballast Nedam Sustainability Services, stated \"We are very pleased to be working with ITM Power and their unique energy storage, clean fuel technology that enables renewable sources of energy, such as solar or wind, to be used for power, heating or cooking using green hydrogen, whenever needed. \n \nRon added, \"ITM's technology, combined with Ballast Nedam's building design and construction expertise in deploying state of the art energy conservation methods, is just what is needed in order to enable buildings to become zero carbon for e...