Multinational chemicals giant Linde has taken a 20 per cent stake in UK hydrogen firm ITM Power, as commercial interest in the hydrogen sector continues to heat up. The investment – worth £38m – was announced last week and forms part of a wider fundraise from ITM Power, which banked £140m from investors in support of plans to switch to larger manufacturing facilities. ITM Power wants to build and produce 5MW electrolysers, which use electricity to generate hydrogen. Linde and ITM Power have also teamed up to form a 50/50 joint venture, which they said will focus on delivering ‘green’ hydrogen produced via electrolysis powered by renewable electricity to industrial sites.
Business Green 7th Oct 2019 read more »