ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed an agreement with ABO Wind of Wiesbaden, Germany to identify and develop wind to hydrogen projects in the UK, Ireland and Germany.
ABO Wind initiates wind farm projects, acquires site locations, organises all technical and business planning, arranges international bank financing and delivers turnkey wind farms. To date, ABO Wind has connected more than 350 turbines with a total capacity of more than 600 megawatts through projects in the UK, Europe and Latin America. In addition to managing its own projects developed after commissioning, ABO Wind takes on the commercial and technical management of wind farms on behalf of international operators. ABO Wind manages 297 wind farms.
ITM Power GmbH Managing Director, Phil Doran, said: “ABO Wind is a market leader in Germany for turnkey wind power projects and is increasingly developing a strong presence in the UK. This is an ideal partnership for ITM Power to roll out green hydrogen energy systems. We are delighted to have found such a significant partner who shares our vision of wind power coupled to energy storage.”
ABO Wind Head of Prototype Projects, Thomas Nietsch added: “ITM Power is gaining an international reputation in the area of hydrogen energy systems and we are looking forward to delivering some world-leading MW-scale projects together with our partner.”
ITM Power plc
0114 244 5111
Singer Capital Markets Limited (Nominated Adviser & Broker)
020 3205 7500
Simon Hudson / Kelsey Traynor
020 7920 3150
ABO Wind is one of Europe’s most experienced developers of projects for the production of renewable energy. The Company plans, finances and builds wind farms and biogas plants internationally. With a yearly project volume of circa 100 million Euros, ABO Wind AG is one of Europe’s most successful developers of wind energy projects. The Company has a staff of 200 professionals located in Germany, Spain, France, Argentina, Belgium, Ireland, Great Britain and Bulgaria. Expansion into other European countries is scheduled.
ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and raised its initial funding of £10m gross in its IPO. A further funding round of £28.5m was completed in 2006. The Company has now made the transition from a research and development company to a product manufacturer and technology provider. The Company has both a strong base of intellectual property and engineering expertise for providing complete hydrogen solutions. The Company has been successful in developing strategic industry partnerships in the following projects: