Grant of Options

RNS Number : 2117J

ITM Power PLC

02 August 2012

2 August 2012

ITM Power plc

("ITM Power" or the "Company")

Grant of Options

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces that on 1 August 2012 it granted options over 100,000 ordinary shares in the company at an exercise price of 49.88 pence per share to Dr Simon Bourne, Chief Technology Officer. The options were granted under the provisions of the Company's Enterprise Management Initiative and will vest immediately. The options are exercisable until 31 July 2022.

Dr Bourne currently holds 326,830 ordinary shares in the Company and holds options over 700,000 ordinary shares in the Company.

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

ITM Power plc

Graham Cooley, CEO

0114 244 5111

Singer Capital Markets Limited (Nominated Adviser & Broker)

Shaun Dobson/ Samantha New

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. A further funding round of £28.5m was completed in 2006. 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:

· 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/

· UKH2Mobility with leading auto OEM's, UK Gov't and industrial gas companies

http://www.itm-power.com/about-itm/partners/?id=49

· EcoIsland with Toshiba, IBM, Cable & Wireless, SSE and Southern Water

http://www.itm-power.com/about-itm/partners/?id=46

· Boeing Unmanned Aircraft System Refueller

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