Itm Power Regulatory News (ITM)

6 October 2010

ITM Power plc

("ITM Power" or "the Company")

EPSRC Grant Funding

ITM Power, the energy storage and clean fuel company, is pleased to announce Engineering and Physical Sciences Research Council ("EPSRC") grant funding in excess of £88,000 towards two research projects to be undertaken at Southampton and Sheffield Universities.

The funding for the first of these is in the form of an Industrial CASE (Collaborative Awards in Science and Engineering) award towards the sponsorship of a PhD at Southampton University. The doctorate will access Southampton's world renowned catalysis expertise to investigate materials for water electrolysis which are tolerant of lower quality water and time-varying inputs modelled on renewable sources. This project is one of only 40 Industrial CASE studentships awarded in the UK in 2010 from a highly competitive process.

In addition, ITM Power is sponsoring a doctorate on the University of Sheffield's E-Futures programme, the UK's leading course dedicated to energy research. This programme is also supported by EPSRC and will investigate novel polymers based on ITM Power's patented materials for use in electro-chemical cells.

These focused projects should strengthen the Company's core intellectual property ("IP") and foster growing relationships with academia. In addition to the financial contribution, ITM Power will also benefit from access to expertise and equipment at the two university departments, potentially reducing development and testing costs.

Both students started at the end of September 2010. Any new IP generated will be wholly owned by ITM Power for use in the field of fuel cells and electrolysers in all the company's target markets.

Dr Simon Bourne, Chief Technology Officer of ITM Power commented:"EPSRC funding is very competitive and the requirements demand a high level of innovation and technical content. I am therefore delighted to announce these two awards. The combination of our technology and the world class expertise at Southampton and Sheffield is a strong one and should benefit all parties, not least the two doctoral students. This is a further example of our strategy to increase our profile within the research community."

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

About EPRSC

EPRSC is the main UK government agency for funding research and training in engineering and the physical sciences, investing more than £850 million a year in research into engineering, mathematics, physics, chemistry, materials science, information and communications technologies. EPSRC is a non-departmental public body funded by the UK government through the Department for Universities, Innovation and Skills.

About Industrial CASE

Industrial CASE provides funding for PhD studentships where businesses take the lead in arranging projects with an academic partner of their choice. EPRSC allocates awards to companies as well as agents such as knowledge transfer networks and regional development agencies.

About ITM Power

ITM Power is committed to clean sustainable energy solutions based around water electrolysis. The Company's 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.