Cooperation Agreement with Logan Energy

RNS Number : 4323X

ITM Power PLC

15 February 2012

 



15 February 2012

ITM Power plc

("ITM Power" or the "Company")

Cooperation Agreement signed with Logan Energy Limited

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces that it has signed a Cooperation Agreement with Logan Energy Limited for project development and tendering in Scotland.

ITM Power and Logan Energy will jointly tender for hydrogen energy storage and clean fuel projects in Scotland and Logan Energy will undertake all project management and after sales support for any plant installed under the agreement.  By signing this agreement the two companies intend to maximise the local supply chain for Scottish projects.

Scotland is a key location for renewable energy having some of the best wind resources in the world. The deployment of energy storage is now seen as key to the effective utilisation of renewable energy plant and will be a critical component of the future energy grid. ITM Power's electrolysis plant will be a vital component in linking electricity generated from renewable energy sources to the gas grid and the transport fuel infrastructure, and Logan Energy's experience in delivering integrated systems will be invaluable to the relationship.

ITM Power CEO, Dr. Graham Cooley, commented; "We are very excited about working with Logan Energy in Scotland, a leading integration company in one of the best resourced renewable energy locations in the world. I am sure that the synergies between Logan Energy and ITM Power will reap benefits for both companies.

John Lidderdale, MD of Logan Energy, commented;"We are looking forward to working with ITM Power in Scotland. The necessity for energy storage technology in the renewable energy system means that there will be many opportunities for us to work together immediately and into the future."

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

ITM Power plc Dr Simon Bourne, CTO	0114 244 5111
Tavistock Communications Simon Hudson / Andrew Dunn	020 7920 3150

About Logan Energy:

Logan Energy deliver energy solutions incorporating fuel cells. They offer a full turnkey service delivering system design, integration, installation and maintenance. Established in 1995, they are responsible for the installation of over 130 fuel cell projects having an installed capacity of 18MW.

http://www.logan-energy.com

About ITM Power:

ITM Power designs and manufactures Hydrogen Energy Systems for Energy Storage and Clean Fuel production. ITM Power has grown from its original platform of novel polymeric electrolytes (for water electrolysis and hydrogen fuel cells) to that of a technology provider. ITM Power now has both a strong base of intellectual property and engineering expertise for providing complete hydrogen solutions and CE marked products for sale. http://www.itm-power.com

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