German Market Update

RNS Number : 3111G

ITM Power PLC

10 May 2011

 



10 May 2011

ITM Power plc

("ITM Power" or the "Company")

German Market Update

ITM Power (AIM: ITM), the energy storage and clean fuel company, welcomes the conclusions of yesterday's NOW workshop held in Germany. The NOW organisation is the body responsible for the H₂Mobility initiative to roll out the hydrogen refueling infrastructure throughout Germany.

NOW GmbH Managing Director, Dr. Ing. Klaus Bonhoff, argued that any move towards a renewable economy inevitably raises the issue of energy storage, and that any discussion of storage cannot avoid hydrogen in general and electrolysis in particular.

Dr. Oliver Ehret, the NOW GmbH Project Manager responsible for hydrogen infrastructure provision, gave an outline of the Clean Energy Partnership (CEP) that is now entering its third phase focusing on preparing the German market for the hydrogen infrastructure. This phase will see the construction of the hydrogen corridor between Berlin, Hamburg, North Rhine Westphalia and Hessen. The CEP aims to have 50% of its hydrogen provided by renewable energy systems and they anticipate that wind energy will be a significant source of hydrogen by 2020.

ITM Power agent for Germany, Phil Doran, commented: "Germany is clearly the leading centre for hydrogen infrastructure development in Europe and ITM Power is now fully engaged with the key players. Germany's renewed emphasis on renewable energy following its review of nuclear technology is focusing attention on energy storage and the use of hydrogen in particular. This is a very exciting time for the Company."

For more information on NOW follow the link below:

http://www.now-gmbh.de/en/home.html

ITM Power CEO, Dr. Graham Cooley, will be presenting to the European Commission's Joint Technology Initiative for fuel cells and hydrogen in Berlin on 19^th May 2011:

http://www.fchindustry-jti.eu/news_display.asp?id=77

For further information, please visit www.itm-power.comor contact:

ITM Power plc
Graham Cooley, CEO	0114 244 5111
Nomura Code Securities Limited	www.nomuracode.com
Juliet Thompson / Dr Christopher Golden	020 7776 1200
Tavistock Communications
Simon Hudson / Andrew Dunn	020 7920 3150

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