Hyundai joins HFuel Here at All-Energy 2012

RNS Number : 5323A

ITM Power PLC

02 April 2012

 



2 April 2012

ITM Power plc

("ITM Power" or the "Company")

Hyundai joins HFuel Here at All-Energy 2012

ITM Power (AIM:ITM), the energy storage and clean fuel company, announces that, Hyundai will use its HFuel on-site hydrogen refueling station at the All-Energy Exhibition and Conference in May to refuel its Fuel Cell SUV.

HFuel will be available at the All-Energy Exhibition and Conference to refuel fuel cell or hydrogen fuelled vehicles and Hyundai is the first automotive OEM to commit to demonstrating its fuel cell vehicle at All-Energy2012.

Hyundai Managing Director, Tae Won Lim Ph.D., commented: "The Hyundai brand is growing globally both in terms of vehicle sales and our manufacturing footprint. Our corporate slogan is "New Thinking. New Possibilities. New ideas create new values" and the fuel cell vehicle is the reality of our corporate objectives. To have the ability to refuel our vehicle at All-Energy 2012 with hydrogen that is actually generated on site is fantastic."

ITM Power CEO, Dr. Graham Cooley, commented: "Our HFuel product is now very well tested in the field, refuelling vans, cars and materials handling vehicles. To be able to provide this service to one of the world's leading and fastest growing automotive OEM's is a further step forward in our development."

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

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

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

About Hyundai Motor Group

Hyundai Motor Group has created an integrated industrial structure spanning from steel to vehicles including the startup of two new blast furnaces at its integrated steelworks, further increasing its synergy as a resource-cycle group. The world market is changing very quickly. Corporations that do not adapt to this change will swiftly go from being the victors of yesterday to the failures of today. Innovative change and endless challenge are the only strategy for corporate survival. In 2011 Hyundai was named the fastest growing automotive brand for the second year running ranking No. 61 out of the top 100 global brands by brand consultancy Interbrand. 

The Tuscon ix35 FCEV is powered by a 115KW fuel cell that develops 134bhp at the electric motor. At the core of the vehicle there are several Hyundai innovations aimed at easing the mass production of FCEVs. Assembly of the entire system has been modularized to reduce the build time for each vehicle. Small scale production of the car will commence this year with the annual production run rising to 10,000 in 2015.

http://worldwide.hyundai.com/WW/Corporate/Overview/CorporateMessage/index.html

http://worldwide.hyundai.com/WW/Innovation/Eco/ZeroEmissionVehicle/index.html

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