Itm Power Regulatory News (ITM)

21th October 2014

ITM Power plc

("ITM Power" or "the Company")

ITM Power takes delivery of Hyundai ix35 Fuel Cell vehicle

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has taken delivery of one of the first Hyundai ix35 fuel cell vehicles to arrive in the UK.

The vehicles being rolled out are a result of the pioneering £31m Hydrogen For Innovative Vehicles (HyFive) project funded by the FCH JU under the EU Framework 7 program. The project which brings together vehicle manufactures, commercial hydrogen fuel suppliers and government departments aims to make hydrogen vehicles a viable and environmentally friendly choice for motorists across Europe. 

HyFive will see a total of 110 hydrogen fuel cell vehicles rolled out to various European locations including Bolzano, Copenhagen, Innsbruck, Munich, Stuttgart and London. These vehicles will be supported by clusters of hydrogen refuelling stations, twelve of which are already in existence, and a further six to be deployed.

Three of these new stations are currently being built by ITM Power and are set to be deployed in London by spring 2015 and each willinclude both on-site electrolyser systems and 700 bar refuelling capacity.

Until this time, the Hyundai ix35 will be used as a commuter vehicle, covering the 158 miles from Sheffield to London using the cleanest fuel possible, hydrogen. Because the vehicle has a range of 369 miles, it will mean it will only require one tank of hydrogen to make this round trip.

The vehicle refueller will be located on the Advanced Manufacturing Park in Rotherham, South Yorkshire. The site is very close to exit 33 of the M1 junction with the M18 and will be an important part of the UK hydrogen infrastructure roll out. Planning permission for the site has been granted and the commissioning process is now underway.

The hydrogen station will form a Hydrogen Mini Grid (HMG) facility consisting of a 225kW wind turbine and an ITM Power electrolyser and 220kg of hydrogen storage, enough to refuel 40 fuel cell vehicles. This approach allows the hydrogen to be produced on site, from just electricity and water, resulting in the Hyundai ix35 vehicle running on the cleanest hydrogen fuel available.

Graham Cooley, CEO, ITM Power PLC, commented: "We are delighted to be one of the first to run a fuel cell vehicle on the roads in the UK. This move helps to highlight that the motor manufactures are serious about rolling these vehicles out, which in turn signals the growing demand for hydrogen refuelling stations"

Tom Finnegan-Smith, Transportation and Highways Design Manager for Rotherham Borough Council commented: "Being one of the first regions within the UK to have a fuel cell vehicle is very exciting. The Council is an enthusiastic supporter of hydrogen as a clean fuel solution for South Yorkshire and we will utilise the opportunity to showcase the vehicle and the refuelling station to neighbouring districts".

Tony Whitehorn, President and CEO, Hyundai Motor UK commented: "Making the first UK customer deliveries of hydrogen-powered cars is a huge landmark for the industry. Hyundai is the first company in the world to start series-production of a fuel cell vehicle and is committed to rolling-out this technology in line with government plans to grow the refuelling infrastructure."

For further information please visit www.itm-power.com or contact:

About ITM Power plc:

ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and raised its initial funding of £10m gross in its IPO. Further funding rounds of £28.5m in 2006, £5.4m in 2012, £2m in 2013 and £10m in 2014 have been completed. 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.

www.itm-power.com

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