EU Grant Award

RNS Number : 1341M

ITM Power PLC

21 August 2013

ITM Power plc

("ITM Power" or the "Company")

EU grant award for energy storage in the built environment

ITM Power (AIM: ITM), the clean fuel and energy storage company, announces that it has received confirmation of a €0.35m (£0.31m) grant award to work with a consortium to demonstrate energy efficient technologies and energy storage solutions for non-residential buildings.

The programme, known as the CommONEnergy project and funded under the Seventh Framework Programme (FP7-2013-NMP-ENV-EeB), addresses the need to redesign and refurbish existing non-residential buildings to become more energy efficient, reduce energy demand, and the incorporation of peak shaving technologies such as energy storage that will allow an increased use of intermittent renewable energy sources.

ITM Power's main role in the project is the integration of hydrogen energy systems in multiple-use non-residential buildings and demonstrating the potential of hydrogen energy storage as an effective means of integrating renewable energy sources in the built environment. Specifically, an energy storage system will be installed in a shopping centre to match the supply and demand profiles required to integrate a renewable power system. There is also potential for a further installation of a refuelling system.

In the four year programme, ITM Power will be working with consortium members Accademia Europa Per La Ricerca Applicata Ed Il Perfezionamneto Professionale Bolzano (Accademia Europa Bolzano), Istitto Nazionale Consulenza Progettazione Ingegneria SC (INRES), Acconia Infraestructuras S.A., Fundacion Cartif,Technische Universitaet wien, Schneider Elecgric SPA, Stiftelsen Sintef, S.O.L.D. Gesellschaft Fur Solarinstallation Und Design MBH, Bartenbach Lichtlabor GmbH, Buildings Performance Institute Europe ASBL, Universita Degli Studi Di Udine, D'Appolonia SPA, Nilar Svenska AB, Fraunhofer-Gesellschaft Zur Foerderung Der Angewandten, Sunplugged Solare Energiesysteme GmbH, EPTA SPA, Proigmenes Erevnitikes & Diahiristikes Efarmoges, Durlum GmbH, CIM-MES Projekt SP ZOO, DS Consulting Process & Organisation GmbH, Ayuntamiento De Valladolid, Storebrand Kjopesenter City Syd AS. Accademia Europa Per La Ricerca Applicata Ed Il Perfezionamneto Professionale Bolzano (Accademia Europa Bolzano) will have overall management responsibility for the project.

ITM Power CEO, Graham Cooley, commented: "Energy storage solutions for the built environment are a key market for electrolysers and fuel cells. This project brings together a very significant European consortium to overcome some of the logistical and legislative hurdles to unlocking this potentially massive market in Europe."

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

ITM Power plc

Graham Cooley, CEO

0114 244 5111

Zeus Capital

Tim Metcalfe (Nominated Adviser)

John Goold (Corporate Broking)

020 7533 7727

Tavistock Communications

Simon Hudson / James Collins

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, £5.4m in 2012 and £2m in 2013 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:

· H₂USA Update

http://www.itm-power.com/news-item/h2usa-update/

· ITM Power joins the CHBC as a new board representative

http://www.itm-power.com/news-item/itm-power-joins-the-chbc-as-a-new-board-representative/

· Participation in the Mediterranean Power-to-Gas platform

http://www.itm-power.com/news-item/participation-in-the-mediterranean-power-to-gas-platform/

· Contract for Operation of Hydrogen Facility

http://www.itm-power.com/news-item/contract-for-operation-of-hydrogen-facility/

· Participation in Swiss H2Mobility

http://www.itm-power.com/news-item/participation-in-swiss-h2mobility/

· Participation in French Hydrogen Infrastructure Programme

http://www.itm-power.com/news-item/participation-in-french-hydrogen-infrastructure-programme/