DECC Grant

RNS Number : 2961E

ITM Power PLC

09 May 2013

 



9 May 2013

ITM Power plc

("ITM Power" or the "Company")

DECC Grant for Large Scale Low Cost Alkali PEM Energy Storage Stack

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has received notification from the Department of Energy & Climate Change ("DECC") of a £0.5m grant to scale up its low-cost alkali PEM electrolyser stack for Power-to-Gas energy storage.

ITM Power's alkali PEM technology (the subject of an announcement on 9 November 2011) is a low cost electrolyser platform being scaled up to the 1MW level, using 16 individual stacks, for Power-to-Gas energy storage.

ITM Power CEO, Dr Graham Cooley, said: "We are delighted to have secured the support of DECC for the scale-up of our innovative low-cost Alkali PEM stack technology. This development project further strengthens our partnership with AEG Power Solutions, which will provide the power electronics."

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

ITM Power plc Graham Cooley, CEO	0114 244 5111
N+1 Singer (Nominated Adviser & Broker) Shaun Dobson / Jenny Wyllie	020 7496 3000
Tavistock Communications Simon Hudson / Kelsey Traynor	020 7920 3150

About ITM Power plc

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.  Further funding rounds of £28.5m in 2006 and £5.4m in 2012 have been completed.  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:

·      Participation in North Sea Power-to-Gas Platform

http://www.itm-power.com/news-item/participation-in-north-sea-power-to-gas-platform/

·      First Sale of 'Power-to-Gas' Plant in Germany

http://www.itm-power.com/news-item/first-sale-of-power-to-gas-plant-in-germany/

·      First Sale in Russia

http://www.itm-power.com/news-item/first-sale-in-russia/

·      First Sale in Japan

http://www.itm-power.com/news-item/first-sale-in-japan/

·      Electrolysis to play a key role in Hydrogen Roadmap for UK

http://www.itm-power.com/news-item/electrolysis-to-play-a-key-role-in-hydrogen-roadmap-for-uk/

·      CE Marking of Fuel Cell System for Materials Handling

http://www.itm-power.com/news-item/ce-marking-of-fuel-cell-system-for-materials-handling/

·      EU Funding for Advanced Refuelling Project

      http://www.itm-power.com/news-item/e3-59m-grant-award-for-an-advanced-refueling-product/

●    AEG Power Solutions electrolyser integration with power electronics

http://www.itm-power.com/news-item/rapid-response-electrolyser-power-systems-integration/

·    DECC Funding Award for the Production of Synthetic Methane

http://www.itm-power.com/news-item/decc-funding-award-for-the-production-of-synthetic-methane/ 

·      EU Funding for PEM Fuel Cell Innovation - IMPACT

http://www.itm-power.com/news-item/eu-funding-for-pem-fuel-cell-innovation-impact/

·      Agreement with ABO Wind of Wiesbaden, Germany

http://www.itm-power.com/news-item/agreement-with-abo-wind-of-wiesbaden-germany/

·      Letter of Intent signed with German Utility

http://www.itm-power.com/news-item/letter-of-intent-signe-witdh-german-utility/

·    Shell and National Grid Join Gas Inject Project

http://www.itm-power.com/news-item/shell-and-national-grid-join-gas-inject-project/

·      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/

·      Electrolyser Distribution with Horizon Fuel Cells

http://www.horizonfuelcell.com/fuel_solutions_hbox.htm

·      CREO with Ford, Jaguar Land Rover and Johnson Matthey

http://www.itm-power.com/about-itm/partners/?id=45

·      Exclusive European distribution rights for Materials Handling Fuel Cells

http://www.itm-power.com/news-item/exclusive-european-distribution-rights-for-materials-handling-fuel-cells/

·      Sale of Equipment to EADS

http://www.itm-power.com/news-item/sale-of-equipment-to-eads/

·      EU Grant Award for PEM Water Electrolysers Coupled to Renewable Power Sources

http://www.itm-power.com/news-item/eu-grant-award-for-pem-water-electrolysers-coupled-to-renewable-power-sources/

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