ITM signs distribution agreement

The Sheffield based company signed an exclusive deal with Singapore company Horizon Fuel Cell Technologies, which will see the company market ITM’s small electrolyser products in south-east Asia and the Indian subcontinent. It will also sell ITM’s range on a non-exclusive basis in countries including the US.

Horizon is the world’s largest volume producer of micro fuel cell products and has customers in more than 65 countries.

Dr Graham Cooley, chief executive of ITM, said: “We are very happy to sign our first distribution agreement and take this important step in our commercialisation process.

“Horizon has an excellent commercial footprint globally and their experience will be invaluable to ITM Power.”

ITM uses hydrogen technology to create clean fuel that can be used in transport, homes and industry.

Taras Wankewycz, founder and chief marketing Officer of Horizon, said: “Having overcome hydrogen infrastructure barriers with small-scale products in the past years, we are now getting ready to introduce larger-scale fuel cell solutions that will require on-site hydrogen supply.

“The ITM Power range of solutions will help our clients increase fuel storage capacities, and provide solutions for new Horizon applications, including small hydrogen-electric vehicles.”