Scottish and Southern Energy (SSE) will initially invest GBP1 million for a 50% share in the new company, which will be called IE CHP UK & Eire.
Intelligent Energy and SSE will reportedly make phased investments to the business as it reaches a series of mutually agreed milestones.
The joint venture will combine Intelligent Energy’s leading fuel cell and hydrogen generation technologies with SSE’s customer base and service operations, and will enhance SSE’s portfolio of clean energy alternatives.
Ian Marchant, CEO of SSE, said: This joint venture 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 combined heat and power 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.
