Agreement with Ove Arup & Partners

RNS Number : 1268I

ITM Power PLC

07 December 2015

 

7 December 2015

ITM Power plc

("ITM Power" or "the Group")

Arup and ITM Power to collaborate on hydrogen energy and fuel systems

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed an agreement with Ove Arup & Partners Ltd (Arup) for siting and business development of both hydrogen refuelling stations and hydrogen energy systems.

Arup is a world leading firm of designers, planners, engineers, consultants and technical specialists working across the built environment. Arup has access to many early stage construction schemes involving energy systems. The collaboration will identify opportunities for the deployment of hydrogen refuelling stations and energy storage systems using ITM Power's energy storage and refuelling technologies.

Dr Graham Cooley, CEO of ITM Power, commented: "ITM Power is pleased to announce this agreement with Arup.  This is an excellent opportunity to identify new sites for hydrogen refuelling stations and other energy related projects."

Alan Thomson, Director, Global Leader Energy Systems at Arup, commented: "Arup is delighted to be working with ITM Power to identify deployment opportunities for this exciting world class technology.  Arup has a world leading energy team and adding hydrogen technology to our portfolio will open up exciting new business."

For further information please visit www.itm-power.com or contact:

ITM Power Graham Cooley, CEO	[phone]
Zeus Capital Dan Bate / Andrew Jones / John Goold	[phone]
Tavistock Simon Hudson / James Collins	[phone]

About ITM Power:

ITM Power manufactures integrated hydrogen energy solutions which are rapid response and high pressure that meet the requirements for grid balancing and energy storage services, and for the production of clean fuel for transport, renewable heat and chemicals.  ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and is a founder member of the Social Stock Exchange. The company received £4.9m as a strategic investment from JCB in March 2015. The company signed a forecourt siting agreement with Shell in September 2015 and a fuel contract with Toyota in October 2015. The Group currently has £10.84m of projects under contract and £7.72m of contracts in the final stages of negotiation.

www.itm-power.com

About Arup:

Arup is the creative force at the heart of many of the world's most prominent projects in the built environment and across industry. From 92 offices in 40 countries our 12,000 planners, designers, engineers and consultants deliver innovative projects across the world with creativity and passion.  http://www.arup.com/  

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