MOU with NRM, Germany

RNS Number : 2228T

ITM Power PLC

18 November 2013

ITM Power plc

("ITM Power" or "the Company")

Memorandum of Understanding with NRM, Germany

Compliant mixing and injection plant deployment

ITM Power (AIM:ITM), the energy storage and clean fuel company, is pleased to announce that it has signed a Memorandum of Understanding ("MOU") with NRM Netzdienste Rhein-Main GmbH ("NRM"), a 90% subsidiary of Mainova Aktiengesellschaft GmbH ("Mainova").

Under the MOU, the Companies will jointly identify and quote for PEM Electrolysis Power-to-Gas projects in Germany and internationally. NRM will have exclusivity to deploy ITM Power plant in their home state of Hessen in Germany and will be the Company's preferred partner for projects in other German states and internationally. The MOU covers both the direct injection of hydrogen gas into mains gas grids and methanation projects.

ITM Power has deployed its PEM Electrolysis Power-to-Gas (P2G) plant at the Mainova Aktiengesellschaft site in Schielestrasse, Frankfurt am Main where the compliant gas mixing and grid injection infrastructure designed and built by NRM is already in place. The plant, which was jointly commissioned by 13 partners within the Thüga Group to investigate P2G-Technology, is now on-site and is undergoing an extensive acceptance, compliance and commissioning phase before live commissioning in December.

This plant is part of the Thüga Group's P2G project as previously reported. Both ITM and NRM are building this plant with the Thüga project consortium, of which ITM and NRM's parent Mainova are both partners. The install also includes a monitoring facility and visitor's reception so that members of the Thüga Group can examine the performance of the plant.

Phil Doran, MD of ITM Power GmbH commented: "We are delighted to further strengthen our existing ties to NRM, a company we have now worked with very closely over this last year in the context of our joint involvement in the Thüga Power-to-Gas project now being installed in the Schielestraße in Frankfurt. We look forward to further developing P2G projects together with NRM as this advanced H2 storage technology establishes itself in the ever expanding renewable energy market."

Prof. Dr. Peter Birkner, CTO of Mainova AG said: "The long-term experience of NRM in the transportation and storage of natural gas as well at its excellent engineering expertise in combination with the advanced electrolyser technology of ITM Power will help to deploy efficient systems for the transformation of the energy system in Germany."

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 NRM Netzdienste Rhein Main GmbH:

As the network subsidiary of Mainova AG, NRM Netzdienste Rhein Main GmbH is responsible for the planning, construction and operation of distribution networks for electricity, natural gas, and heat and water in Frankfurt and the surrounding area as well as the Main-Spessart region. NRM is the central contact for all technical and commercial issues surrounding the distribution networks for energy traders, downstream network operators and end users.

About Thüga Group:

450 cities and boroughs with responsibility for the living environment of around eight million people have brought together their 100 municipal energy and water utility companies to form the Thüga Group. The aim is to create added value for each environmental area and to secure local values long-term through their collaboration. In total the Thüga Group employs 18,100 staff. They provide almost 3.6 million customers with electricity, around 2.1 million customers with natural gas and 0.9 million customers with drinking water. The turnover of the Thüga network in 2012 was 22.3 billion euros. The Thüga Group is Germany's largest municipal network of local and regional energy suppliers. The roles are clearly allocated within the Thüga Group: the 100 partners take care of active marketing efforts with their local and regional brands. Thüga - financial partner of the cities and boroughs and, in this capacity, minority shareholder in the partner companies - is the core element of the group and is tasked with business development: attracting new partners, value retention and development of the company, coordination and facilitation of projects as well as control of collaboration in the group.

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/