StockMarketWire.com - ITM Power has signed a memorandum of understanding with Cheetah Marine to develop a hydrogen fuelled catamaran as part of the Isle of Wight EcoIsland project.
ITM says island energy systems are one of the key entry markets for on-site hydrogen fuel production.
Islands have high fuel prices and difficult fuel logistics.
Most island systems utilise significant numbers of marine vehicles constituting an existing global market for outboard engines in the region of 800,000 units pa. Emissions are an important focus for the industry due to restrictive use in the sensitive near-shore environment.
ITM Power will work with Cheetah Marine to optimise existing petrol outboard motors to run on hydrogen to reduce emissions and fuel costs and improve fuel security.
The resulting vehicle will be taken through the approvals process to be marketed as a product alongside ITM Power's refueling equipment.
Story provided by StockMarketWire.com
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