Milesteone Technical Gases / Industrial Gases
UK: Joint Venture Linde Acquires Minority Stake in ITM Power
Linde has acquired a minority stake in ITM Power, a British manufacturer of polymer electrolyte membrane (PEM) electrolyzers for the electro-chemical splitting of water into hydrogen and oxygen.
Guildford/UK — Linde has announced a strategic investment in TIM Power, a leading manufacturer of integrated hydrogen energy solutions. The transaction was completed on October 22. In addition to its investment, the company will form a joint venture with ITM Power to implement projects based on their technology. The joint venture will target large-scale industrial users, particularly in the metals and glass, electronics, refinery, chemistry and steel industries. In addition to opening new commercial opportunities, the joint venture is expected to create capacity to deliver a higher volume of projects, shorten lead times, improve execution and reduce costs.