Scottish and Southern Energy plc (SSE) and Intelligent Energy have formed a joint venture to develop fuel cell-based, combined heat and power systems (CHP) for the light industrial, commercial and residential markets in the UK and Ireland.
The joint venture will combine Intelligent Energy’s fuel cell and hydrogen generation technologies with SSE’s customer base and service operations. SSE will initially invest £1 million ($2 million) for a 50% share in the new company, which will be called IE CHP (UK & Eire) Ltd.
Intelligent Energy and SSE will make phased investments to the business as it reaches a series of mutually agreed milestones.
Ian Marchant, Chief Executive of Scottish and Southern Energy, said, ‘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.’