ITM Power (AIM: ITM), the energy storage and clean fuel company, and Iwatani Corporation of America (“ICA”), a wholly owned subsidiary of Iwatani Corporation (8088: Tokyo Stock Exchange) are pleased to announce that the two companies have signed a collaboration agreement for the deployment of multi MW electrolyser based hydrogen energy systems in North America.

ITM Power and ICA have a shared vision to reduce pollutants and improve air quality by offering renewable hydrogen to the transportation, energy storage and renewable energy sectors in North America. The collaboration agreement enables the companies to share opportunities and, where a commercial case exists, work together on an exclusive basis to deploy ITM Power’s world leading PEM electrolysers and Iwatani’s leading gas handling and deployment solutions.

Particular areas of interest lie in the California hydrogen refuelling station market and large-scale liquid and gaseous renewable hydrogen production for domestic and export markets.

Joe Cappello, CEO Iwatani Americas, commented: “We are very pleased to have signed this agreement and to be collaborating with ITM Power to meet the needs of customers who have committed to transitioning to low-carbon-intensity derived hydrogen as an energy source. ITM Power’s world leading electrolysers and Iwatani’s vision for growth in the North American green hydrogen market align very well and we look forward to deploying projects together.”

Dr Graham Cooley, CEO, ITM Power, added: “Iwatani Corporation is a recognized leader in the hydrogen industry, and we are delighted to be collaborating with the company in North America. Transport refuelling is just the tip of the iceberg for demand for hydrogen from renewable sources and this partnership will be well positioned to participate in this exciting and rapidly growing industry.”