Itm Power Regulatory News (ITM)

7 September 2016

ITM Power plc

("ITM Power" or "the Company")

ITM Power appoints new Managing Director in key German market

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has appointed Calum McConnell to the post of Managing Director (Geschäftsführer) of the Company's wholly owned German subsidiary, ITM Power GmbH. Calum, who will take over in December, replaces Phil Doran who has achieved some great early successes for ITM Power in the German market. Phil will be relocating to Scotland where he will continue to provide his services, working with ITM Power's existing business development head, Dr Kris Hyde, in this important market.

Calum has been working at US industrial giant Parker Hannifin for 19 years in a number of business development and product management roles. His most recent role was as Global Business Development Manager within the Corporate Global Energy team, growing business within the renewable market segments of wind, hydro and ocean wave and tidal power as well as in the battery energy storage market and the German utilities market.

His appointment comes at a time when the market for energy storage within Germany is growing quickly and ITM Power is well placed to gain further traction having deployed three Power-to-Gas units in Germany to date, as well as having secured an order for a fourth 1MW unit in March 2016.

Calum joins an international development team that includes Kris Olsen (Nordic and Scandinavian territories), Steve Jones (USA), Geoff Budd and Alan Lloyd (USA and Canada) and Lucas Bertrand (France and Luxembourg), as well as the business development team in the UK.

Calum McConnell, MD, ITM Power GmbH, commented: "I´m delighted to be joining ITM Power and taking over from Phil in Germany. Phil and I have been in regular contact over the last few years and I admire his and ITM Power´s drive and focus. The power-to-gas market provides a viable solution to a number of challenges faced by the decentralised energy sector as it grows, and I´m excited to join a company shaping this future market. As I transition into the new role, I´m looking forward to supporting the existing projects, meeting the customers, and growing the Company´s business in Germany."

Dr Graham Cooley, CEO, ITM Power, added: "This is a key appointment for ITM Power to develop a key market for our products and we're excited about working with Calum and developing our business further. I would also like to thank Phil Doran, our outgoing German MD, for his four years heading up ITM Power GmbH. Phil has been instrumental in developing our initial business there and I look forward to continuing to work with him."

About ITM Power

ITM Power manufactures integrated hydrogen energy solutions which are rapid response and high pressure that meet the requirements for grid balancing and energy storage services, and for the production of clean fuel for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004. The Company received £4.9m as a strategic investment from JCB in March 2015. The Company signed a forecourt siting agreement with Shell in September 2015. The Group currently has £15.61m of projects under contract and a further £2.00m of contracts in the final stages of negotiation, totaling £17.61m, subject to exchange rate variation. ITM Power is a founder member of the Social Stock Exchange.

www.itm-power.com

-ends-