Benzinga | Sep 22, 2021 03:30PM EDT

AECOM Inks MoU To Develop Hydrogen-Powered Railway In Central Italy

* AECOM (NYSE:ACM) has signed a memorandum of understanding (MoU) with Spanish renewables group Iberdrola SA (OTC:IBDRY) and Italian partners Cinque International and Ancitel Energy and Environment to upgrade Italy's Apennine diesel railway with hydrogen trains.

* Under the MOU, AECOM will lead engineering and program management, with Iberdrola acting as an industrial partner.

* AECOM and its partners are working on four projects to support sustainable economic recovery in the region badly affected by earthquakes in 2009 and 2016.

* The first project is upgrading the 300km Apennine line, one of Italy's first hydrogen railways.

* The MOU also includes pre-feasibility work for a new rail line powered by green hydrogen linking Rome with Ascoli Piceno, a province in the Marche region.

* The third project is to assess the potential for diffused green hydrogen manufacturing activity in the region.

* The final project will look at ways to apply new energy and environmental technologies in post-earthquake reconstruction.

* Price Action: ACM shares are trading higher by 2.17% at $63.09 on the last check Wednesday.