Toyota to Deliver Fleet of Mirai FCEVs to London

RNS Number : 0714C

ITM Power PLC

13 October 2015

 

13 October 2015

ITM Power plc

("ITM Power" or "the Company")

Toyota to Deliver Fleet of Mirai FCEVs to London

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to note the announcement made this morning by the office of the Mayor of London that the capital will take delivery of a fleet of Toyota Mirai fuel cell electric vehicles.  London has been named by Toyota as a key city for the early adoption of hydrogen vehicles.  The announcement is reproduced below.

Mayor welcomes new wave of hydrogen-powered passenger cars to London

The Mayor of London, Boris Johnson, today welcomed news that some of the world's most advanced new hydrogen cars are coming to London, as part of his work to pioneer the use of the cleanest, greenest technology for the future of transport and infrastructure in the capital.

Manufacturer Toyota is set to deliver 12 brand new Mirai hydrogen powered vehicles to London, where four will be taken on by Transport for London to assist with essential engineering and maintenance work carried out between bus stops and Tube stations. The Mirai is the first hydrogen fuel cell sedan vehicle to be commercially mass produced. By the end of this year, all 12 of the vehicles will be on the road in the capital, to be used by private hire fleets and green minded businesses including the energy storage and clean fuel company ITM Power.

Toyota has named London as a key city for early adoption of hydrogen vehicles this year and next, given the Mayor's commitment to develop the necessary infrastructure and encourage motorists to move over to cleaner cars. The arrival of the new zero-emission cars is supported by the roll-out of vital new refuelling stations for hydrogen vehicles, and the Mayor's plans to introduce the world's first Ultra Low Emission Zone from 2020. In 2010, Transport for London launched the UK's first and Europe's largest fleet of hydrogen buses between Covent Garden and Tower Gateway. The service now runs eight buses across the route and is set to grow to ten in 2016.

The number of hydrogen refuelling stations in London is set to more than double by the end of 2016, creating provision for hydrogen vehicles in every corner of the capital. The Mayor's plans for the Ultra Low Emission Zone is helping to create a growing market for this type of cleaner technology, and will be a game changer in cleaning up London's air and enabling London's motorists to access greener vehicles.

The Mayor is currently on a three-day trade mission to Japan, where he today visited the headquarters of car manufacturing giant Toyota in western Japan and took one of the hydrogen powered Mirai for a test drive. He met with Toyota Senior Managing Officer Mr Kiyotaka Ise and General Manager Mr Yoshiaki Ito to discuss London's position as a market for alternative fuel cars including hydrogen.

The Mayor of London, Boris Johnson, said: "It is fantastic that London will benefit from these new state-of-the-art hydrogen vehicles. By embracing this technology of the future, we aim to consolidate hydrogen's role as a practical alternative fuel for the 21st century and beyond. I am sure that Transport for London will provide the ideal environment for us to see everything the Mirai can do and, in doing so, take another great step towards improving air quality in our city and protecting the health of Londoners."

Paul Van der Burgh, President & Managing Director for Toyota (GB) PLC, said: "We have been delighted to welcome the Mayor of London to our headquarters in Japan to see for himself Toyota's commitment to sustainable mobility. Toyota believes in hydrogen as a key enabler for building a future zero emissions society and we applaud the Mayor's commitment to embracing new technology in his mission to make London a leading global city for low-emission, low-carbon transport.

"The success of hydrogen will require constructive dialogue and action, bringing together industry, national governments and city authorities like London to share and develop skills and experience and to communicate the benefits that can be delivered to business and to individuals. Our Mirai fuel cell vehicle is a milestone in the history of the motor car and opens up unprecedented opportunities for cleaner, sustainable transport. Transport for London and the city it serves will provide the ideal environment for Mirai to demonstrate the significant potential of hydrogen as a practical alternative fuel for the next century and beyond."

There are currently seven zero-emission hydrogen passenger cars in London, but with the arrival of the Mirai and further cars expected from South Korean motor manufacturer Hyundai this number is set to more than triple in the coming year.

Although still in early production, the Mirai represents an exciting opportunity for London which the Mayor is keen to exploit. TfL's cars, alongside the roll out of hydrogen refuelling infrastructure, are the first steps towards their wider adoption. The UK is one of the first global markets to be ready to take on this type of technology. More than 300 of the cars are now on the streets in Japan where infrastructure for the cars is rapidly growing. It is also being adopted in some parts of the United States as well as Germany, Denmark and Belgium.

Hydrogen powered vehicles emit no emissions from the tailpipe, just water vapour, and are on a par with conventional vehicles in terms of size, driving range, speed and refuelling time. Hydrogen can be produced through a wide variety of renewable energy sources including solar and wind power. As well as being exempt from the congestion charging fee in Central London, hydrogen vehicles pay no road tax and there is currently no duty on hydrogen as a road fuel.

London's next wave of hydrogen refuelling stations are being delivered through the HyFIVE project, a European-wide initiative led by the Mayor in collaboration with 15 partners including manufacturers and infrastructure providers, and part of his work to spearhead the introduction of the newest, cleanest hydrogen technology.

Notes to Editors:

1. The Mayor's trade mission to Japan is part of his continued drive to create jobs and growth in the capital by strengthening cultural ties with Tokyo and promoting London to the world as a major investment destination.

2. Today the Mayor met with Mr Kiyotaka Ise, the Senior Managing Officer, Toyota Motor Corporation and Chief Officer of R&D activities including Fuel Cell Technology (http://newsroom.toyota.co.jp/pages/materials/20150401/pdf/en/ISE_Kiyotaka.pdf) and his colleagues including Mr Yoshiaki Ito, General Manager, TME-Japan.

3. The Mayor of London is leading the European Hydrogen for Innovative Vehicles project. HyFIVE is an FCHJU (Fuel Cells and Hydrogen Joint Undertaking - http://www.fch.europa.eu/) part funded project made up of 5 manufacturers (BMW, Daimler AG, Honda Europe, Hyundai Motor Europe, Toyota Motor Europe); 5 hydrogen refuelling infrastructure providers (Air Products, Danish Hydrogen Fuel, ITM Power, Linde, OMV); and 5 consultancies and non-profit or government bodies (Element Energy, Greater London Authority, Istituto per Innovazioni i Technologiche Bolzano, Thinkstep, The Danish Partnership for Hydrogen and Fuel Cells ).

4. HyFIVE aims to deploy 110 fuel cell electric vehicles from five global automotive companies. To serve these vehicles, the project will also deploy 6 new stations, linked with 12 existing stations and create refuelling station networks in three parts of Europe; London, the Copenhagen area and a southern region incorporating Munich, Stuttgart, Innsbruck and Bolzano. The project's scale and pan-European breadth will allow it to tackle all of the final technical and social issues to enable the commercial roll-out of hydrogen vehicles and refuelling infrastructure across Europe.

5. There are currently two public operational hydrogen refuelling stations in London (Hendon and Heathrow), as well as a third station in Leyton that provides fuel for London's hydrogen buses. Five new stations will be operational by the end of 2016 which will offer a strategic hydrogen infrastructure cover for the capital. In Japan, there are around 80 refuelling stations under construction, around 20 are already operational. Five are located in the Tokyo area.

6. In 2013, Toyota joined the Mayor's Hydrogen Partnership; an initiative aimed at developing London's hydrogen economy, and confirmed London's position as a key market for their new hydrogen Mirai. For more information, please visit: http://www.london.gov.uk/priorities/environment/energy/making-london-hydrogen-and-fuel-cell-friendly-city

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

ITM Power plc Graham Cooley, CEO	[phone]
Zeus Capital Dan Bate / John Treacy / John Goold	[phone]
Tavistock Simon Hudson / James Collins	[phone]

About ITM Power plc:

ITM Power manufactures integrated hydrogen energy solutions which are rapid response and high pressure that meet the requirements for grid balancing and energy storage services, and for the production of clean fuel for transport, renewable heat and chemicals.  ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004.  The Company received £4.9m as a strategic investment from JCB in March 2015.  The Company signed a forecourt siting agreement with Shell in September 2015.  The Group currently has £10.63m of projects under contract and £0.30m of contracts in the final stages of negotiation.  ITM Power is a founder member of the Social Stock Exchange.

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