Leading fuel cell power systems company Intelligent Energy Holdings PLC has agreed terms with Scottish and Southern Energy (“SSE”), the FTSE 100 utilities company, for the formation of a joint venture company which will develop and produce fuel cell combined heat and power systems (“CHP”) for the United Kingdom and Ireland residential and commercial markets.
Loughborough, UK, 3 March 2008
The partnership will combine Intelligent Energy’s leading fuel cell and hydrogen generation technologies with SSE’s considerable customer base and servicing business. It is the result of a relationship that commenced over twelve months ago when SSE first approached Intelligent Energy as a potential partner, and confirms SSE’s commitment to enhancing its portfolio of clean energy alternatives. Intelligent Energy and SSE will make phased investments to the business as it reaches a series of mutually agreed milestones.
Commenting on the relationship with SSE, Henri Winand, chief executive of Intelligent Energy, said “We are delighted to be partnering with Scottish and Southern Energy to progress fuel cell development in the CHP market. Together, we have the potential to create a new and energy efficient product portfolio that offers a competitive choice to the consumer. This joint venture shows that clean alternatives for energy generation have a real future and we very much look forward to working with Scottish and Southern on this exciting new project.”
Stuart Deed, Head of Business Partnering at Scottish and Southern Energy, said, “The relationship between SSE and Intelligent Energy represents a clear statement of intent by SSE that we will continue to expand and develop our portfolio of clean energy businesses. We are particularly pleased at commencing our commercial involvement in CHP fuel cell technology using Intelligent Energy’s fuel cell and reforming expertise, which we believe is clearly suited to our business priorities in this future market.”
About Scottish and Southern Energy
SSE is the UK’s second largest energy company, supplying electricity and gas to around 8.5 million customers. It is involved in the transmission, distribution and supply of electricity, owning and operating networks comprising around 128,000km of overhead lines and underground cables.
SSE has a portfolio of almost 10,500MW of thermal and renewable electricity generation capacity. In addition, SSE is involved in the storage, distribution and supply of gas; its contracting business is one of the UK’s largest mechanical and electrical contractors; and its telecoms business operates a 7,500km UK-wide telecoms network.
Please click here for Scottish and Southern Energy's web site
About Intelligent Energy
Intelligent Energy is a fuel cell power systems company, with a range of leading fuel cell, fuel processing and hydrogen generation technologies. The company is focused on the provision of cleaner power and low carbon technologies.
Intelligent Energy partners with leading companies globally in the transportation, oil and gas, aerospace, defence, distributed generation and portable power markets. Current partners and customers include Boeing, PSA Peugeot Citroën, and The Suzuki Motor Corporation.
Please click here for Intelligent Energy's web site
Contacts (Intelligent Energy)
James Kennedy
AxiCom PR for Intelligent Energy
0208 392 4091
james.kennedy@axicom.com
Jon Moore
Director of Communications
Intelligent Energy
01509 225 854
jon.moore@intelligent-energy.com
Contacts (Scottish and Southern Energy)
Justyn Smith
Head of Media Relations
Scottish and Southern Energy
0845 0760 530