EU funding for PEM Fuel Cell Innovation - IMPACT

RNS Number : 7136Q

ITM Power PLC

09 November 2012

9 November 2012

ITM Power plc

("ITM Power" or the "Company")

EU funding for PEM Fuel Cell Innovation - IMPACT

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has received confirmation of a €3.9m (£3.17m) grant award to a consortium to develop Proton Exchange Membrane (PEM) Fuel Cell Membrane Electrode Assemblies (MEAs) with ultra-low platinum loadings for automotive applications. The Company's share of this award is €0.59m (£0.48m), recognised over the three years of the programme.

ITM Power will be working in a consortium of 12 members, led by Deutsches Zentrum für Luft- und Raumfahrt e.V., comprising

· Commissariat à l'Energie Atomique (CEA)

· Consiglio Nazionale delle Ricerche(CNR-ITAE)

· Deutsches Zentrum fuer Luft- und Raumfahrt e.V.

· European Commission, Directorate-General Joint Research Centre

· Institute for Energy (JRC-IE)

· Johnson Matthey Fuel Cells Limited

· SOLVAY SOLEXIS S.p.A.

· University of Applied Science Esslingen

· TU Berlin

· Institut National Polytechnique de Toulouse

· Zentrum für Sonnenenergie- und Wasserstoff-Forschung Baden-Württemberg (ZSW)

The programme, known as the IMPACT project and funded under the Seventh Framework Programme addresses the aim of improving the lifetime of PEM fuel cells with MEAs containing ultra-low platinum loadings (<0.2 mg/cm²) for automotive applications.

The overall objective of IMPACT is to develop MEA's with improved durability (>5,000 hours) at high performance and having ultra-low platinum loadings for automotive applications. In particular, the project addresses the understanding of degradation processes which apply to such MEA's; understanding the relationship between degradation, lifetime and platinum loading; development of improved MEA components (membranes, dispersions, catalysts); improved performance under dynamic operating conditions.

ITM Power's main role in the project is to further develop its hydrocarbon PEM membrane offering and to evaluate the performance and durability of MEA's developed in the project under the agreed dynamic operating conditions and to undertake assessment of low platinum loading approaches.

Dr Simon Bourne, CTO, ITM Power plc commented: "ITM Power is delighted to be part of this project which brings together leading fuel cell technologies to address key challenges for the next generation of automotive fuel cells. The project will also strengthen relationships with the fuel cell component supply chain; an important aspect of our strategy and complimentary to our work with the Carbon Trust."

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

ITM Power plc

Graham Cooley

0114 244 5111

Singer Capital Markets Limited (Nominated Adviser & Broker)

Shaun Dobson / Jenny Wyllie

020 3205 7500

Tavistock Communications

Simon Hudson / Kelsey Traynor

020 7920 3150

About ITM Power

ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and raised its initial funding of £10m gross in its IPO. Further funding rounds of £28.5m in 2006 and £5.4m in 2012 have been completed. The Company has now made the transition from a research and development company to a product manufacturer and technology provider. The Company has both a strong base of intellectual property and engineering expertise for providing complete hydrogen solutions. The Company has been successful in developing strategic industry partnerships in the following projects:

· Agreement with ABO Wind of Wiesbaden, Germany

http://www.itm-power.com/news-item/agreement-with-abo-wind-of-wiesbaden-germany/

· Letter of Intent signed with German Utility

http://www.itm-power.com/news-item/letter-of-intent-signe-witdh-german-utility/

· Shell and National Grid Join Gas Inject Project

http://www.itm-power.com/news-item/shell-and-national-grid-join-gas-inject-project/

· EcoIsland TSB Funding

http://www.fuelcelltoday.com/news-events/news-archive/2012/july/ecoisland-progresses-tsb-grant-awarded-for-isle-of-wight-integrated-hydrogen-project

· 700bar Dispensing Collaboration in Germany

http://www.itm-power.com/news-item/700bar-dispensing-collaboration-in-germany/

· Marks & Spencer Pilot Materials Handling Fuel Cell Project

http://www.itm-power.com/news-item/ms-agreement/