Itm Power Regulatory News (ITM)

8 April 2016

ITM Power plc

("ITM Power" or "the Company")

BOC and ITM Power Sign Hydrogen Refuelling & Siting Agreement

BOC, the UK's largest supplier of industrial gases, has announced that it has signed an agreement with ITM Power, the energy storage and clean fuel company, to provide infrastructure for ITM Power's new electrolyser-based hydrogen refuelling stations for passenger cars. The announcement underpins ITM Power's ongoing plans to build a network of hydrogen refuelling stations in the UK and demonstrates its commitment to green transport. Hydrogen-powered vehicles emit only water vapour, produce no carbon emissions or air pollution, have a range of several hundred miles and refuel in three minutes.

BOC, a member of The Linde Group, will use its specialist market knowledge to source and install the most appropriate Group technology including hydrogen compressors and dispensers. These will be installed at ITM Power's new hydrogen refuelling station locations, based on its proprietary electrolyser technology. This latest siting and refuelling agreement builds on the existing successful partnership between the two companies.

The Linde Group is one of the leading gases and engineering companies in the world with over 135 years' experience in dealing with gases, as well as the strength to create a safe and sustainable platform for alternative fuels and energy carriers such as hydrogen and liquefied natural gas (LNG). BOC is a key player in the development of the hydrogen transport fuel market in the UK.

Opened in 2011, BOC's hydrogen refuelling station at Honda's site in Swindon employs BOC filling technology to serve passenger cars, light goods vehicles (LGVs) and forklift trucks and offers both 350 and 700 bar refuelling.

BOC's Aberdeen hydrogen production and bus refuelling station is part of the Aberdeen Bus Project and fuels Europe's largest fleet of hydrogen fuel cell buses. The station features Linde's IC-90 ionic compressors and in its first year the station has demonstrated unparalleled reliability, with fuel availability of >99.99%, dispensing over 35,000 kg of hydrogen to the buses. It is this established technology and knowledge that is going to be delivered to the ITM Power refuelling stations. Linde has delivered over 100 hydrogen refuelling stations around the world.

ITM Power is set to become the dominant hydrogen fuel supplier in the UK, with plans and funding already under way to deploy eight refuelling stations in and around London, having already opened one station in Rotherham. Of the eight stations, the first London refuelling station will open in May 2016 at the National Physical Laboratory in Teddington and the second will open in July at the Centre for Engineering and Manufacturing Excellence in East London (funded by the Fuel Cell and Hydrogen Joint Undertaking). A further three refuelling stations will be sited on publically accessible forecourts and these will open before the end of 2016. ITM Power has a hydrogen fuel contract with Toyota, which will see all Toyota Mirai FCEVs supplied with three years of hydrogen included for the consumer.

Dr Hamish Nichol, Innovation Manager for Hydrogen, BOC commented: "It is really exciting to be working with ITM Power to help them deliver their ambitious programme of hydrogen stations. The success of BOC's refuelling station in Aberdeen will ensure that together with ITM Power we are able to make hydrogen a reliable and accessible clean fuel for future mobility."

Dr Graham Cooley, CEO of ITM Power commented: "We are delighted to be working with BOC who have a significant leading role in the UK delivering onsite solutions for industrial and fuel gases. Onsite integrated hydrogen refuelling solutions utilising the leading edge technology of ITM Power and BOC is a world class offering."

About ITM Power plc:

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 and is a founder member of the Social Stock Exchange. The company received £4.9m as a strategic investment from JCB in March 2015; signed a forecourt siting agreement with Shell in September 2015 and a fuel agreement with Toyota in October 2015. The Company currently has £11.67m of projects under contract and a further £7.50m of contracts in the final stages of negotiation constituting a total pipeline of £19.17m.

www.itm-power.com

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