30 August 2005
ITM POWER PLC
('ITM' or 'the Company')
Technical Update - ITM - DTI Alcohol Fuel Cell Programme
ITM, which aims to provide enabling technology for the hydrogen economy, is
pleased to announce today the results of the ITM-DTI Alcohol Fuel Cell
programme, which potentially significantly broadens ITM's intellectual property
portfolio. The Department of Trade & Industry (DTI) has provided funding to
enable the Company to develop its materials and processes for use in improved
low cost Direct Alcohol Fuel Cells (DMFC) using methanol as the fuel.
Direct Alcohol Fuel Cells offer the prospect of easily transportable and
refuelable power for use in (for example) laptop computers and mobile
communication systems where batteries now are becoming a limitation factor in
performance. This market is projected to grow very rapidly when methanol fuel
cells of acceptable cost can be made available, but the industry standard
material for such cells remains Nafion®, a material that is costly and allows
significant amounts of methanol to crossover the membrane reducing the
efficiency and performance of the resulting fuel cell.
The DTI funding has allowed the Company to research, develop and patent
additional materials specifically designed to operate with methanol as the
fuel.
ITM Power has produced new low cost materials, which have been tested as direct
methanol fuel cells in both acid and alkaline forms. This is important because
alkaline conditions allow for the use of lower cost, non-platinum catalysts,
and ITM have successfully operated a laboratory scale DMFC using palladium in
place of platinum on the fuel side as the catalyst.
ITM normally prefers ionic conductivity as the most important measure of
performance for its materials and, as a result of this programme, the Company
has made low cost alkaline materials having conductivity values up to 40%
greater than Nafion®. However, an alternative criteria commonly used for
comparing materials for use in DMFC fuel cells is: the ratio of ionic
conductivity/methanol cross-over (c/Dk); and alkaline materials developed
during this programme and now subject to patent protection by ITM have been
measured and found to have values of c/Dk 10 times that of Nafion® under
similar conditions.
Jim Heathcote ITM's CEO said: 'ITM Power is most grateful for the support of
the DTI in this successful project, which compliments the Company's work on
hydrogen based fuel cells and electrolysers. The project has produced exciting
technical results, which offer ITM access to a new, additional and potentially
very valuable commercial area. In addition, it has allowed the Company to
increase significantly its Intellectual Property portfolio and has illustrated
the value of collaboration between industry and Government.'
-Ends-
For further information please contact:
Jim Heathcote Gemma Chandler / Simon Richard Swindells
Hudson
ITM Power Plc Tavistock Communications Panmure Gordon & CO
Tel: 01780 740 574 Tel: 020 7920 3150 Tel: 020 7459 3600
Notes to Editors
About the hydrogen economy and ITM Power:
ITM is a leading technical innovator of fuel cell and electrolyser technologies
for the hydrogen economy.
The future shape of the energy industry is being driven predominantly by the
growth in the global demand for energy, the diminishing reserves of oil and by
the environmental impact of burning fossil fuels.
Hydrogen Economy:
* Term used to describe the use of hydrogen as a critical element in the
energy economy- of the future.
* Benefit of hydrogen is that it has the potential to a be a totally 'clean'
source of fuel
* The vision is that low cost electrolysers produce hydrogen from 'clean'
energy sources such as solar, wind and wave and fuel cells use this
hydrogen to produce the electricity when its required
'If all the sunlight hitting the earth's surface in one hour was harnessed and
converted into electrical power, it would be enough to fulfill mankind's energy
needs for a complete year' - BP Solar
Electrolysers, via an electrochemical process, convert electricity (from
renewable energy inputs) and water into hydrogen (which can be stored) and
oxygen and in turn fuel cells, via a similar process convert hydrogen and
oxygen into electricity and water.
ITM announced in November 2004 that it had successfully produced and tested a
Mark III electrolyser stack, which has been operated at a power rating in
excess of 200 Watts and are confident that the Company is well on track to
achieve their milestone of 500 Watts by June 2006. On the basis of these
results, The Generics Group, an independent scientific consultancy, have
estimated that in mass production it is possible to achieve $283 per kW. This
closely approaches the 2010 US Department of Energy target of $300 for an
electrolyser stack.
PEM fuel cells developed so far are currently estimated to cost several
thousand dollars per output kW (for example, in February 2004, the US
Department of Energy estimated the current cost of a fuel cell to be
approximately $3,000 per output kW) whereas petrol engines are currently
estimated at $50 per output kW.
ITM's Technology
ITM Power plc believes it has developed and patented the keys to revolutionise
the hydrogen economy and is set to become one of the UK's leading innovators
within the alternative energy sources industry.
ITM's ionically conductive polymer materials and manufacturing processes are
used in the production of fuel cells and electrolysers, which are significantly
cheaper than those presently used in production. The technology offers high
conductivity, hydration control and has the benefit of catalyst recycling. The
Company has the ability to produce low cost fuel cells that meet the energy
demands of a wide range of industries and specialist technologies including
military, automotive and stationary fuel cell markets as well as the capacity
to produce household items such as laptops, mobile phones and domestic
appliances.
ITM's has patented a new manufacturing process that allows a fuel cell/
electrolyser stack of cells to be made in a single process similar to a mass
production casting process. The process is capable of producing cells or stacks
of any shape that may also be flexible so that they can be moulded into smaller
products, such as mobile phones. The Company has applied this technology to a
low cost electrolyser that can convert carbon free energy into clean hydrogen
fuel on site and on demand, therefore completing the circle of the
manufacturing process.
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.