ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has sold its first hydrogen generation system to the European Aeronautic Defense and Space Company (EADS) for use by its research arm, Innovation Works, in its Energy and Propulsion laboratory.
ITM Power CEO, Dr. Graham Cooley, said: "EADS is a very high quality organisation at the forefront of technology and we are delighted to have forged such a productive relationship."
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The EADS Group is a global leader in aerospace, defence and related services, employing around 133,000 people at more than 170 sites worldwide.
Developing sustainable aircraft, connecting people, observing and understanding Earth, and making the world a safer place: EADS does things that matter. Ever since its inception in 2000, EADS has constantly drawn from the strength that comes from integration. The Group brings together businesses that are market leaders in their own right, forming a collective driven by a single vision.
EADS includes Airbus as the leading global manufacturer of the most innovative commercial and military aircraft, with Airbus Military covering tanker, transport and mission aircraft. Astrium, the European leader in space programmes and the third biggest space provider worldwide, is active in all space activities, from large-scale space systems to satellite services.
Cassidian, worldwide leader in state-of-the-art solutions for armed forces and civil security worldwide, also makes EADS the major partner in the Eurofighter consortium and a stakeholder in the missile systems provider MBDA. Eurocopter is the world's primary helicopter manufacturer in the civil sector, offering the largest civil and military helicopter range in the world.
EADS - its people and its innovations - plays a role in creating some of the world's biggest success stories, helping to make tomorrow's technology a reality.
ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and raised its initial funding of £10m in its IPO. A further funding round of £28.5m was completed in 2006. 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:
· Exclusive European distribution rights for Infintium Materials Handling Fuel Cells
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