Additional Grant Funding

RNS Number : 8590Q

ITM Power PLC

11 August 2010

 



ITM Power PLC

11 August 2010

ITM Power plc 

("ITM Power" or "the Company")

Additional Grant Funding

ITM Power plc, the energy storage and clean fuel company, is pleased to announce that an additional £264,179 funding has been granted by the Technology Strategy Board to ITM Power for their work on the 'HydroGEN' project, bringing the total grant allocated to ITM to £503,476.

The overall objective of the 'HydroGEN' project is to develop novel alkaline polymeric membrane materials and catalysts to reduce the cost of existing state-of-the-art solid polymer electolysers, while maintaining current performance and being fully-compatible with intermittent electricity supplies (typical of renewable energy sources such as wind and solar).  The extension of the project funding to ITM will enable Membrane Electrode Assemblies (MEAs) to be built into stack systems compatible with the ITM product range.

HydroGEN runs from August 2008 to July 2011 with consortium partners Teer Coatings Ltd, Boddingtons Technical Plastics and the University of Southampton.

Dr. Graham Cooley, CEO of ITM Power plc commented; "This additional grant demonstrates the confidence that organizations like the Technology Strategy Board have in ITM. Their extension of the project funding shows that the technology we are now creating offers serious benefits and fulfills the growing need for truly carbon free energy sources for the future. We look forward to completing the project with our partners."

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

ITM Power plc Graham Cooley, CEO	0114 244 5111
Panmure Gordon & Co. Katherine Roe	020 7459 3600
Tavistock Communications Simon Hudson / Andrew Dunn	020 7920 3150

 

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