Itm Power Regulatory News (ITM)

10 May 2016

ITM Power plc

("ITM Power" or "the Company")

Launch of first London HyFive Hydrogen Refuelling station

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to have officially launched its first public access hydrogen refuelling station in London at the National Physical Laboratory, Teddington. The station was opened to the public by Andrew Jones MP, Transport Minister at Department for Transport, and was supported by the automotive OEMs Hyundai, Toyota, Honda and Renault partner Symbio FCell, who also presented and participated in a Q&A session.

The station is the first of three UK stations to be deployed as part of the pan European HyFive project, which was funded by the European Fuel Cell and Hydrogen Joint Undertaking (FCHJU) and the UK Government Office of Low Emission Vehicles (OLEV).

Transport Minister Andrew Jones MP, who today announced a £2 million government fund to support the roll-out of hydrogen vehicles in public and private sector fleets, said:

"We are committed to making all cars and vans zero-emission by 2050, and hydrogen vehicles have a huge role to play in delivering cleaner, greener journeys.

"The new refuelling station at Teddington is just one of 12 stations opening up this year, backed by £5 million of government funding, that will make it easier for more people to switch to this exciting new technology."

Located at the National Physical Laboratory in Teddington, the hydrogen refuelling station is close to the A316 and A308 trunk roads and is available for commercial and private fleets operating fuel cell electric vehicles. Delegates took part in a 'ride and drive' that showcased a range of fuel cell electric vehicles including the Hyundai Ix35, the Toyota Mirai, and the Honda FCX Clarity.

Commissioning teams from ITM Power and BOC Linde will now move on to commission and open a further four electrolyser based refuelling stations in and around London before the end of 2016.

Paul Van der Burgh, Toyota (GB) PLC President and Managing Director, said: "The opening of ITM Power's new filling station is an excellent example of how a coordinated hydrogen fuel infrastructure is successfully being developed in the UK. We are pleased to continue our support for the wider provision of hydrogen fuel outlets, which will encourage increased customer uptake of zero-emissions hydrogen fuel cell vehicles such as the Toyota Mirai saloon."

Tony Whitehorn, Hyundai Motor UK's President and CEO, said: "Hyundai UK is very pleased to see the launch of ITM Power's refuelling station at Teddington, under HyFive, and is looking forward to a further four stations planned to be deployed in London by ITM this year. It's very encouraging to see the infrastructure growing, making it even more feasible for businesses and consumers to own and run zero-emission fuel cell vehicles. This is very timely, supporting the growing interest and sales of the iX35 Fuel Cell car, and Hyundai Motor Group's plan to bring to market two new fuel cell vehicles by 2020."

Thomas Brachmann, Chief Project Engineer and Head of Powertrain Section, Honda R&D on behalf of Honda Motor Europe said "Honda is pleased to support the opening of ITM Power's new HyFive hydrogen refuelling station for public access at Teddington. Honda is encouraged to see this launch as part of the much needed network of stations required in the UK to support the introduction of its new Clarity Fuel Cell model."

Fabio Ferrari, CEO, Symbio FCell, said: "I am excited to launch the new Kangoo ZE H2 700 bar van at the opening of ITM Power's first refuelling station in London. The higher pressure 700 bar storage capability enables the vehicle to refill at any European refuelling station and improve the vehicle range, and with ITM Power's program to extend the network of stations in and around London, clean emission journeys by public and private logistics organisations are now possible. This solution is today a real pollutant free alternative to the incumbent diesel powered vehicles, improving London air quality."

Dr Graham Cooley, CEO, ITM Power, commented: "We are extremely pleased to have launched the first of the company's HyFive hydrogen refuelling stations in London providing clean fuel for a range of fuel cell electric vehicle types that are now available from the auto OEMs. ITM Power are grateful for the co-operation of our HyFive partners and for the funding support of FCH JU and OLEV.

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 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 received £4.9m as a strategic investment from JCB in March 2015. The Company currently has £13.94m of projects under contract and a further £6.52m of contracts in the final stages of negotiation constituting a total pipeline of £20.46m (subject to exchange rate variation).

www.itm-power.com

About HyFIVE

Hydrogen For Innovative Vehicles (HyFIVE) is an ambitious European project including 15 partners who will deploy 185 fuel cell electric vehicles (FCEVs) from BMW, Daimler, Honda, Hyundai and Toyota. To serve these vehicles, the project will create clusters of refuelling station networks in three parts of Europe, where six new stations (Danish Hydrogen Fuel, ITM Power and OMV) will be deployed linking them with 12 existing stations.

http://www.hyfive.eu/

About FCH JU

The Fuel Cells and Hydrogen Joint Undertaking (FCH JU) is a unique public private partnership supporting research, technological development and demonstration activities in fuel cell and hydrogen energy technologies in Europe. Its aim is to accelerate the market introduction of these technologies, realising their potential as an instrument in achieving a carbon-lean energy system. The three members of the FCH JU are the European Commission, fuel cell and hydrogen industries represented by the NEW Industry Grouping and the research community represented by Research Grouping N.ERGHY

About OLEV

The HRS Infrastructure Grants Scheme was launched on the 2nd February 2015 by the Office for Low Emission Vehicles (OLEV) to support roll out of hydrogen infrastructure networks in the UK with the specific aim of encouraging the introduction of Hydrogen Fuel Cell Electric Vehicles (FCEVs). The HRS Infrastructure Grants Scheme will provided grant funding for selected infrastructure projects seeding development of hydrogen for road transport in the UK.