Scottish and Southern Energy invests £1 million

Mar 12 2008

Joint venture aims to develop clean heat and power systems

Scottish and Southern Energy is forming a joint venture company with Loughborough based Intelligent Energy.

The new company, called IE CHP, will develop clean and reliable fuel cell based combined heat and power systems.

Eventually it hopes to supply the light industrial, commercial and residential markets in the United Kingdom and Ireland.

Perth based SSE will initially invest s1 million for a 50 per cent share in the new company.

The joint venture will combine Intelligent Energy's fuel cell and hydrogen generation technologies with SSE's customer base and service operations.

Ian Marchant, chief executive of SSE, said the joint venture represented a clear statement of intent that it would continue to expand and develop its portfolio of clean energy businesses.