(MENAFNEditorial) LOUGHBOROUGH, England & NEW DELHI - Wednesday, October 24th 2012
Intelligent Energy, the global power technology company and Indian Oil Corporation Limited (IndianOil), India's largest oil & gas company have signed a Statement of Intent to initiate demonstration projects and work collaboratively to develop the use of hydrogen in a range of fuel cell power systems in the Indian market. The Statement of Intent was signed by Dr. S.K. Sarangi, Executive Director, Alternate Energy, IndianOil and Dr. Henri Winand, CEO, Intelligent Energy in the presence of Mr. R.S. Butola, Chairman, IndianOil, at the PETROTECH-2012 event held in New Delhi, India.
Under the agreement, IndianOil and Intelligent Energy will prepare a multi-phased programme to demonstrate and eventually deploy hydrogen-based power systems applications. The collaboration will demonstrate the most appropriate applications for fuel cells using hydrogen generated by IndianOil. This will include exploring applications such as material handling, telecom towers and motive applications, with direct relevance to the growing need in India to adopt low-carbon and high air-quality power system technologies.
Dr. R. K. Malhotra, Director for R&D at Indian Oil Corporation Limited said:"IndianOil is at the forefront of exploring new technology innovations to support the burgeoning energy needs of the Indian subcontinent. We expect this relationship to be taken forward for demonstration of Hydrogen for various Fuel Cell applications".
Dr. Henri Winand, CEO, Intelligent Energy, said:"Intelligent Energy and IndianOil share a similar vision and commitment to driving innovation in sustainable and more efficient power systems. We are very enthusiastic about the potential of this collaboration with India's largest oil & gas company to address the very large market opportunities afforded by India's continued economic growth."
"Intelligent Energy provides a range of technologies that are key transition assets in the move to a more diverse range of energy sources, which can co-exist alongside hydrocarbons for the provision of energy in the 21st century," Dr. Winand added.
IndianOil's exploration of renewable energy is aimed not only towards the diversification of its energy portfolio but also to alleviate energy poverty and improve energy access at the 'base of the pyramid' in India. To find out more about IndianOil's sustainability initiatives, please visit http://www.iocl.com/Aboutus/sustainability.aspx.
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