ITM Power PLC
25 September 2007
For Immediate Release 25 September 2007
ITM Power plc
('ITM' or 'the Company')
Key US Patent Progress
ITM Power's Fundamental Patent allowed in the USA
ITM Power plc (AIM:ITM), the technology and research company focused on the
commercialisation of the hydrogen economy, is pleased to announce that it has
received a 'notice of allowance' for its fundamental patent application from the
US Patent Office. It is expected that the patent will be formally granted in the
near future.
This is a major stage in, and vindication of, the Company's IP strategy. The
patent application covers both the unique crosslinked hydrophilic ionic
materials which underpin the electrolyser and fuel cell developments made by the
Company in the past several years, together with the novel production process.
In combination, these developments have allowed ITM to develop low cost platinum
free electrolysers and high power density low cost fuel cells.
Jim Heathcote, CEO ITM Power, said:
'This announcement is particularly timely because we believe world-wide patent
cover is essential before we ship our first products. We are making excellent
progress in constructing and fitting out the Company's new production plant and
anticipate its completion by the year end, on time and on budget.'
For further information please contact:
ITM Power plc 01799 542 222
Jim Heathcote, Chief Executive Officer
Panmure Gordon & Co. 020 7459 3600
Katherine Roe
Buchanan Communications 020 7466 5000
Ben Willey
Richard Darby
Ben Romney
Notes to the Editors:
ITM Power is a developer of low-cost hydrogen technologies. The Company has
developed new materials and processes that dramatically reduce the cost of fuel
cells and electrolysers. The patented membrane materials used in the devices
have higher performance and are 1% of the cost of the industry standard
materials.
Electrolysers work by converting water and electricity into hydrogen and oxygen.
The hydrogen produced can be used as a replacement for fossil fuels and
facilitate zero carbon housing and pollution free motoring.
ITM Power was founded in 2000 and floated on the London Stock Exchange's
Alternative Investment Market in June 2004.
This information is provided by RNS
The company news service from the London Stock Exchange
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