Last checked at 1 Mar 2011 07:00
1 March 2011
ITM Power Plc
("ITM Power" or the "Company")
APPOINTMENT OF AGENT IN GERMANY
Establishment of Commercial Presence in Key Early Adoption Market
ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the appointment of an agent and representative for the key German early adoption market for hydrogen technologies.
The agent is Phil Doran, who has been based in Frankfurt for 20 years and is a partner in Core Technology Ventures. He was a founding member of the European Hydrogen and Fuel Cell Trade Association and has had a three year involvement in the EU-funded Roads2HyCom project, which mapped Europe's technical capabilities. From 1993 to 2002 Phil was Head of Hydrogen & Fuel Cells Research and Senior Equity Sales at UBS Warburg AG (Frankfurt). ITM Power considers the German market to be the key early adoption market for hydrogen technology in Europe, both for electrolysers and fuel cells.
CEO Dr Graham Cooley commented; "Germany is now a strategic entry point for hydrogen and fuel cell related technologies and a market that ITM Power is actively targeting. This appointment is our next positive step towards a commercial presence and sales drive in the early adoption markets of Germany, the US and Japan."
Phil Doran commented: "I am looking forward to introducing ITM Power's innovative technology to a wider - and receptive - German audience. Hydrogen technology adoption in Germany is developing rapidly and ITM Power's green hydrogen refuelling products are well positioned to exploit this growing opportunity."
Phil will be presenting an overview of the German refuelling station market at the HOST launch at Stansted on 8th March and joining ITM Power at the Hannover Messe exhibition on the 4th to the 8th April. Register to attend the HOST launch at http://www.itm-power.com/hostlaunch.php
For further information please visit www.itm-power.comor contact:
ITM Power plc | |
Graham Cooley, CEO | +44 (0)114 244 5111 |
Nomura Code Securities Limited | www.nomuracode.com |
Juliet Thompson / Dr Christopher Golden | +44 (0)20 7776 1200 |
Tavistock Communications | |
Simon Hudson / Andrew Dunn | +44 (0)20 7920 3150 |
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.
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