ITM Power, AEG Power Solutions to combine electrolysis, energy storage

Nov 26, 2012 - UK energy storage and clean fuel firm ITM Power plc (LON:ITM) said Monday it had clinched a deal to integrate its electrolyser solutions with AEG Power Solutions' power control electronics.

The use of power electronics is vital for future smart grids and the demand side management of loads to integrate the intermittent green energy sources, ITM Power explained. According to the terms of the agreement, the two companies will initially cooperate on five projects, which are either pending imminent deployment or are in the early proposal development stage.

Power electronics provider AEG Power Solutions, part of Luxembourg-based firm 3W POWER SA (ETR:3W9), has already provided power electronics for a range of power-to-gas systems in Germany. After signing the agreement with ITM Power, the company will combine its power conversion technology with Polymer Exchange Membrane (PEM) electrolysis, thus ensuring quick response electrolysis that can be used for electricity grid balancing services.

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