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ITM Power, Rheinmetall Partner to Deploy Decentralized Fuel Plants for NATO
ITM Power (ITM.L) is teaming up with Rheinmetall (RHM.F) to develop a network of decentralized synthetic fuel production plants for the North Atlantic Treaty Organization armed forces in Europe.Under the Giga PtX project, the British electrolyzer manufacturer and German defence company plan to deploy "several hundred" decentralized production plants across Europe, according to a Friday release. Each plant is expected to have an electrolysis capacity of up to 50 megawatts and a production capacity of 5,000 to 7,000 tonnes of e-fuel per annum.Initial project focus is on the UK.
$ITM.L$RHM.F