ITM Power inks strategic partnership with Mott Corporation

The AIM-traded company said the collaboration was aiming to solidify its market leadership by advancing the development of porous transport layers (PTL) - a critical component of proton exchange membrane (PEM) electrolysis.

It said the partnership would leverage the expertise of both companies in science and technology to enhance the efficiency and performance of ITM's already-established PEM electrolysis technology, as well as develop the next generation of stacks.

“Mott has demonstrated capability to meet our exacting requirements supported by stringent quality control and innovation,” said chief executive officer Dennis Schulz.

“Together, we are progressing real-world technology to advance and future-proof the production of green hydrogen.

“Our collaboration will cement ITM's technology leadership and play an important role in our supply chain.”

At 1523 BST, shares in ITM Power were down 1.41% at 71.26p.

Reporting by Josh White for Sharecast.com.