EcoIsland Hydrogen Refuelling Update

RNS Number : 5493P

ITM Power PLC

02 October 2013

2 October2013

ITM Power plc

("ITM Power" or "the Company")

EcoIsland Hydrogen Refuelling Update

ITM Power (AIM: ITM), the energy storage and clean fuel company, is leading the EcoIsland Hydrogen Vehicle Refueller, a project supported by the UK's innovation agency, the Technology Strategy Board. The £4.45m project will build and integrate into the power system, a hydrogen energy storage and vehicle refuelling system on the Isle of Wight.

The three year project is now coming to the end of its first year. The project is on time and on budget with the following achievements in year 1:

· ITM Power have concluded the design of a modular 80kg/day hydrogen generation unit, the first deployment of a station this size which the Company intends to use for the roll-out of hydrogen refuelling stations in the UK in the H2Mobility project. This modular design allows generation capacity to be increased at refuelling stations as demand increases. Key components are ordered and build is underway and on track.

· ITM Power and SSE have surveyed a number of sites on the Isle of Wight, identifying four potential locations owned by SGN, SSE, Vestas and MJH Developments for the 80kg/day refuelling station. Planning applications have been submitted for all four sites, and approval has been received for one of these sites. ITM Power are seeking approval from all four sites.

· ITM Power and Cheetah Marine have applied for planning permission for the marine refuelling system at Cheetah Marine's site in Ventnor, Isle of Wight.

· ITM Power has successfully converted a Honda 135 Outboard motor to dual fuel hydrogen/petrol operation for use on a catamaran designed and built by Cheetah Marine. Cheetah Marine boat build is underway.

· IBM has developed a user interface for the refuelling system.

The project is proceeding well with delivery of the refuelling units anticipated in spring 2014 for the 12 month trial to start in autumn 2014.

It has recently been announced that EcoIsland CIC has entered liquidation. EcoIsland CIC's role in the project was to organise and run a fuel cell electric vehicle ("FCEV") road show for which they were allocated £49,475 of project costs, £23,500 in grant, of which £5,800 has been claimed to date. ITM Power and the consortium will now reallocate the remaining grant and activities within the existing consortium.

Partner Responsibilities:

The project will design, build, install and operate two grid-connected hydrogen refuelling platforms on the Isle of Wight, with 80kg/day and 15kg/day capacities for the operation of a fleet of hydrogen vehicles including vehicles from Hyundai, Microcab and converted Ford Transit vans. Vehicles showcased will include FCEV cars, hydrogen internal combustion engine ("HICE") vans and a HICE boat.

ITM Power will design and build two refuellers and take a key role in the system integration.

SSE is providing the grid connection to utilise the island's renewables and will utilise the refueller and vehicles in the final year demonstration.

Toshibawill ensure compatibility of the hydrogen system with its Energy Management System and the Distribution Network Operator ("DNO") networks - enabling it to actively participate in the energy balancing of the distribution network in future.

IBMwill develop a user interface to allow smart card payments facilities to the refuellers to meter and monitor hydrogen provision.

Vodafonewill provide communications to allow remote monitoring of both refueller and vehicles and allow data collection and data cloud integration.

National Physical Laboratory will develop hydrogen purity tests to ensure compliance with FCEV requirements (ISO14687-2).

Arcola Energy will develop an educational and dissemination package and will provide public and commercial engagement activities, and will operate the hydrogen car club. With ITM Power they will organise and run a FCEV road show with ride and drive.

Cheetah Marine will build a hydrogen catamaran in conjunction with ITM Power and operate it in validation trials.

The University of Nottingham and The University of South Wales will evaluate the performance and operating characteristics of the refuelling stations and use their own ITM Power electrolyser fed refuelling stations for the generation of refuelling strategies to optimise the efficiency of operation.

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

ITM Power plc

Graham Cooley, CEO

0114 244 5111

Zeus Capital

Tim Metcalfe (Nominated Adviser)

John Goold (Institutional Sales)

020 7533 7727

Tavistock Communications

Simon Hudson / James Collins

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, £5.4m in 2012 and £2m in 2013 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:

First Refuelling Station Sale in the US

http://www.itm-power.com/news-item/first-refuelling-station-sale-in-the-us/

ITM Power Joins Californian Hydrogen Business Council Hydrogen Energy Storage (HES) Program

http://www.itm-power.com/news-item/itm-power-joins-californian-hydrogen-business-council-hydrogen-energy-storage-hes-program/

German Energy Agency Power to Gas Strategy Platform

http://www.itm-power.com/news-item/itm-power-joins-german-energy-agencys-power-to-gas-strategy-platform/

Incorporation of ITM Power ApS Denmark

http://www.itm-power.com/news-item/incorporation-of-itm-power-aps-in-denmark/

Participation in H2USA

http://www.itm-power.com/news-item/participation-in-h2usa/

Participation in North Sea Power-to-Gas Platform

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