Last checked at 4 Apr 2011 07:00
4th April 2011
ITM Power plc("ITM Power" or "the Company")
Additional Carbon Trust Grant Funding for High Power Density Fuel Cells
ITM Power (AIM: ITM), the energy storage and clean fuel company, and the Carbon Trust, are pleased to announce additional Carbon Trust grant funding of £91,956 towards the continued development of the Company's materials for application in automotive fuel cells.
ITM Power has previously reported fuel cell power density results (5.5W/cm2 and 10A/cm2) with hydrogen /oxygen which are approximately three times that of current commercial technology. Previous Carbon Trust funding was granted in order to establish if similarly high power densities could be achieved using the Company's patented membrane materials with hydrogen/air systems.
Following early achievement of the challenging technical targets (in excess of 2.1W/cm2 and 4A/cm2 being reported on 1st February 2011 with hydrogen/air) the Carbon Trust have provided additional grant funding to enable ITM to further develop its unique technology offering for the emerging fuel cell automotive sector.
The focus of this follow-on program will be the examination of performance sensitivities with respect to reduced catalyst loading against industry standard protocols. In parallel, the Carbon Trust will continue to support ITM Power with introductions to further commercial end-users.
A summary of the power density performance achieved by ITM's patented membrane technology can be seen on the Company's website at:
http://www.itm-power.com/cmsFiles/investors/CarbonTrust_GrantAward.pdf
Commenting for ITM Power, CTO Dr Simon Bourne said: "I am delighted with the Carbon Trust's continued support of our technology and their enthusiasm to see commercial uptake. This additional grant supports the world class results we have achieved to date and I am looking forward to presenting them at the Hannover Messe this week."
Pierre Gaudillat, Technology Commercialisation Manager, Carbon Trust added: "We have been impressed with the initial results from the high power-density fuel cell project and we're keen to support ITM further in developing this technology. We look forward to more exciting results from this breakthrough which has enormous commercial and carbon-saving potential."
For further information please visit www.itm-power.com or contact:
ITM Power plc Graham Cooley, CEO | 0114 244 5111 |
Nomura Code Securities Limited Juliet Thompson / Dr Christopher Golden | www.nomuracode.com 020 7776 1200 |
Tavistock Communications Simon Hudson / Andrew Dunn | 020 7920 3150 |
About the Carbon Trust:
The Carbon Trust is a not-for-profit company with the mission to accelerate the move to a low carbon economy, providing specialist support to business and the public sector to help cut carbon emissions, save energy and commercialise low carbon technologies. By stimulating low carbon action we contribute to key UK goals of lower carbon emissions, the development of low carbon businesses, increased energy security and associated jobs.
We help to cut carbon emissions now by
·; Providing specialist advice and finance to help organisations cut carbon
·; Setting standards for carbon reduction
We reduce potential future carbon emissions by
·; Opening markets for low carbon technologies
·; Leading industry collaborations to commercialise technologies
·; Investing in early stage low carbon companies
About ITM Power:
ITM Power designs and manufactures Hydrogen Energy Systems for Energy Storage and Clean Fuel production.
ITM Power is committed to clean sustainable energy solutions based around water electrolysis. Our principal motivation is to engineer zero-carbon hydrogen energy systems that provide energy security and independence from fossil fuels.
ITM Power's electrolyser and fuel cell technologies have the potential to become the cornerstones of a future hydrogen economy based on 'green' hydrogen. Our hydrogen systems are able to convert renewable energy to a clean fuel that can be indefinitely stored for use in transport, residential and industrial applications.
ITM Power has grown from its original platform of novel polymeric electrolytes (for water electrolysis and hydrogen fuel cells) to that of a technology provider. ITM Power now has both a strong base of intellectual property and engineering expertise for providing complete hydrogen solutions.