DGAP-News: Linde acquires minority stake in ITM Power and agrees joint venture

2019. október 23., szerda, 12:00







DGAP-News: Linde plc


/ Key word(s): Investment/Joint Venture






Linde acquires minority stake in ITM Power and agrees joint venture







23.10.2019 / 12:00




The issuer is solely responsible for the content of this announcement.



Linde acquires minority stake in ITM Power and agrees joint venture



Guildford, UK, October 23, 2019 - Linde (NYSE: LIN; FWB: LIN) announced today that it has acquired a minority stake in ITM Power plc (AIM: ITM), a British manufacturer of polymer electrolyte membrane (PEM) electrolyzers for the electro-chemical splitting of water into hydrogen and oxygen.



The transaction, which was completed on October 22, provides Linde with a strategic investment in a world leading manufacturer of integrated hydrogen energy solutions.



In addition to its investment, Linde will form a joint venture with ITM Power to implement projects based on ITM Power"s technology. By bringing together ITM Power"s expertise in PEM electrolysis and Linde"s leading engineering procurement and construction experience, 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.



"This investment reflects Linde"s ongoing focus to deliver sustainable solutions while helping to make our customers more successful", said Dr Christian Bruch, Executive Vice President and CEO Linde Engineering. "The joint venture is an excellent opportunity to combine Linde"s world-class engineering capabilities with ITM Power"s electrolysis technology."



"The investment from Linde cements the relationship between us and provides ITM Power with a world-leading partner that brings deep expertise in engineering, procurement and construction plus a global customer base", said Dr Graham Cooley, CEO, ITM Power.



About Linde

Linde is a leading industrial gases and engineering company with 2018 pro forma sales of USD 28 billion (EUR 24 billion). The company employs approximately 80,000 people globally and serves customers in more than 100 countries worldwide. Linde delivers innovative and sustainable solutions to its customers and creates long-term value for all stakeholders. The company is making our world more productive by providing products, technologies and services that help customers improve their economic and environmental performance in a connected world.



For more information about the company, please visit www.linde.com







Contacts:  
Investor Relations

Juan Pelaez

Phone: +1 203 837 2213

Email: juan.pelaez@linde.com
Media Relations

Anna Davies

Phone: +44 1483 244705

Email: anna.davies@linde.com














23.10.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Linde plc

The Priestley Centre, 10 Priestley Road

GU2 7XY Guildford

United Kingdom
Phone: +1-203-837-2210
E-mail: Investor_Relations@Linde.com
Internet: www.linde.com
ISIN: IE00BZ12WP82
WKN: A2DSYC
Indices: DAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange; Moscow, NYSE, Luxembourg Stock Exchange (Euro MTF)
EQS News ID: 894363





 
End of News DGAP News Service





894363  23.10.2019 



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