Itm Power Regulatory News (ITM)

2 December 2011

ITM Power plc

("ITM Power" or the "Company")

Development of Hydrogen Fuelled Catamaran for EcoIsland Project

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed a Memorandum of Understanding with Cheetah Marine to develop a hydrogen fuelled catamaran as part of the Isle of Wight EcoIsland project, details of which were announced by the Company on the 28th November 2011.

Island energy systems are one of the key entry markets for on-site hydrogen fuel production. Islands have high fuel prices and difficult fuel logistics. Most island systems utilise significant numbers of marine vehicles constituting an existing global market for outboard engines in the region of 800,000 units pa. Emissions are an important focus for the industry due to restrictive use in the sensitive near-shore environment.

Cheetah Marine, now in their 20th year of production, continues to lead Europe in the specialist design and construction of power catamarans. Cheetah Marine catamarans are renowned in the commercial world where all weather time at sea is critical. The company combines their customers' specifications with their knowledge and expertise gained from building over 300 catamarans. The Company currently occupies 1400m2 of undercover workshop space on the Isle of Wight and is an innovation partner to EcoIsland.

ITM Power will work with Cheetah Marine to optimise existing petrol outboard motors to run on hydrogen to reduce emissions and fuel costs and improve fuel security. The resulting vehicle will be taken through the approvals process to be marketed as a product alongside ITM Power's refueling equipment.

ITM Power CEO, Dr Graham Cooley, commented: "This is a great opportunity for ITM Power to help expand the range of hydrogen vehicles available in the EcoIsland project. Cheetah Marine is a very exciting partner and together we hope to develop a product for the global marine market."

Cheetah Marine MD, Sean Strevens, added: "We are delighted to be working with ITM Power to replace fossil fuels with hydrogen. Hydrogen is a realistic fuel substitute for marine applications and will play a vital role in reducing emissions whilst helping to protect the sensitive inshore environment. We are really excited by the opportunity this gives us to actively play a role in the EcoIsland rollout and to demonstrate Cheetah Marine's intention to remain at the cutting edge of vessel design."."

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

About Cheetah Marine LLP:

Sean Strevens designed the first Cheetah back in 1989, the design rapidly caught on with other local fisherman who saw the advantages of the catamaran and the first Cheetah went into production in 1991. Following the introduction of new codes of practice by the Maritime Coastguard Agency in 1998, Cheetah Marine has become involved within the survey industry designing and building numerous survey catamarans for clients including The Port of London Authority, The Environment Agency, Fugro and Titan. Cheetah Marine has worked closely with Reson, developing the world's smallest trailerable survey boat to be fitted with the Reson 7125 Multibeam Echo Sounder in Cheetah's retractable Hydropod System.

High stability, a good load carrying capability and a comfortable ride are core elements of the Cheetah design and essential criteria for workboat applications. http://www.cheetahmarine.co.uk/en/

About ITM Power:

ITM Power designs and manufactures Hydrogen Energy Systems for Energy Storage and Clean Fuel production. 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 and CE marked products for sale. http://www.itm-power.com

About EcoIsland:

The Isle of Wight's EcoIsland is the largest single sustainability project in the UK. On 15 November 2011 the EcoIsland Partnership Community Interest Company (CIC) was launched as a Global Innovation Centre for Smart Grid technology and show how, working with Global Partners IBM and Toshiba, Global Communications Partner Cable&Wireless and National Partners SSE, Southern Water and ITM Power. It plans to integrate the island's future wind, tidal, geothermal and solar power. The Smart Grid initiative is one of the key ingredients in the Isle of Wight's aim to become the first truly sustainable region of the UK.

http://www.eco-island.org

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