IPS signed a commercial agreement with Baker Hughes (NASDAQ: BKR)

IPS signed a commercial agreement with Baker Hughes (NASDAQ: BKR) in Florence, Italy, to develop, implement and operate low-carbon EXERON-based microgrid solutions for the Oil & Gas industry. The collaboration agreement addresses OPEX and emissions reduction as well as the global industry's goal to focus on zero-emission operation.

IPS focuses on innovation and sustainability initiatives that include R&D and manufacturing of renewable power & BESS systems and developing tailor-made solutions for green electrification and massive carbon footprint reduction. With Baker Hughes' broad energy technology portfolio, which includes both hydrogen-ready turbines and heat recovery solutions ideal for microgrid applications, this collaboration will accelerate the adoption and development of customized microgrids to address customers' specific needs.

Baker Hughes' commitment to emissions reductions in cooperation with IPS' proven track record in development of cutting-edge power technology, is very promising as the increasing needs and demands of these infrastructures must be more resilient, efficient and cost-effective.

Our partnership with Baker Hughes brings world-class technology and know-how together with our ability to support customers to realize these solutions at their facilities.

Together, we're committed to advancing the energy transition and creating a more sustainable industry for owners, users and communities.

About Baker Hughes:

Baker Hughes (NASDAQ: BKR) is an energy technology company that provides solutions to energy and industrial customers worldwide. Built on a century of experience and conducting business in over 120 countries, our innovative technologies and services are taking energy forward – making it safer, cleaner, and more efficient for people and the planet.

About IPS'EXERON micro-grid technology: www.exeron.com