Itm Power Regulatory News (ITM)

6th December 2012

ITM Power plc

("ITM Power" or the "Company")

Fuel Cell Membrane Performance Update

Further to the announcements of 4 October 2011 and 19 July 2012, ITM Power (AIM:ITM), the energy storage and clean fuel company, is pleased to announce the latest results communicated to the Carbon Trust yesterday, from its fuel cell membrane development activity. In partnership with the Carbon Trust and major automotive OEM's, ITM Power has been performing numerous standardized accelerated stress tests on its high power density membrane material designed to exacerbate degradation and benchmark durability.

ITM Power's hydrocarbon fuel cell membrane is highly conductive and has demonstrated a very high power density exceeding 1.5W/cm2 at 600mV with hydrogen/air, 0.3mg/cm2 of platinum catalyst per electrode and low gas pressures (1.5bara). Following achievement of these targets, ITM Power is undertaking an 18 month programme focusing on membrane durability and scale up to full automotive cell dimensions.

Three months into this programme, ITM Power's membrane material has outperformed all targets against which it has been measured. A key metric among these is voltage retention in fuel cell open circuit mode. This is a universally recognized accelerated test for which the US Department of Energy (DoE) has established specific targets dictating that the cell voltage must not drop by more than 20% over 200 hours. Using an internationally recognized and commercially available fuel cell, a membrane electrode assembly containing ITM Power's membrane material has repeatedly shown durability beyond 700 hours (representing many 1000's of hours of normal operation). This represents over three times the longevity specified in the DoE target, and comparable with the best results measured for incumbent fluorocarbon membrane materials and as such is a significant indication of ITM Power's fuel cell membrane durability.

In addition to maintaining open circuit voltage, the membrane also measured extremely low hydrogen cross over at circa 1mA/cm2. This is close to an order of magnitude lower than that measured for incumbent fluorocarbon membrane materials.

While there are further tests yet to be conducted, these early results are considered to give a tremendously positive indication of the durability offered by ITM Power's fuel cell membrane against this aggressive accelerated testing.

Dr Simon Bourne, CTO, ITM Power plccommented: "The fuel cell industry has established a suite of standard tests which form a clear set of criteria for adoption. These results represent another significant step in establishing the ITM membrane as a viable commercial product for the automotive market."

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

About ITM Power

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 and £5.4m in 2012 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. The Company has been successful in developing strategic industry partnerships in the following projects:

● EU Funding for Advanced Refuelling Project

http://www.itm-power.com/news-item/e3-59m-grant-award-for-an-advanced-refueling-product/ 

● AEG Power Solutions electrolyser integration with power electronics

http://www.itm-power.com/news-item/rapid-response-electrolyser-power-systems-integration/ 

·; DECC Funding Award for the Production of Synthetic Methane

http://www.itm-power.com/news-item/decc-funding-award-for-the-production-of-synthetic-methane/ 

·; EU Funding for PEM Fuel Cell Innovation - IMPACT

http://www.itm-power.com/news-item/eu-funding-for-pem-fuel-cell-innovation-impact/

·; Agreement with ABO Wind of Wiesbaden, Germany

http://www.itm-power.com/news-item/agreement-with-abo-wind-of-wiesbaden-germany/ 

·; Letter of Intent signed with German Utility

http://www.itm-power.com/news-item/letter-of-intent-signe-witdh-german-utility/

·; Shell and National Grid Join Gas Inject Project

http://www.itm-power.com/news-item/shell-and-national-grid-join-gas-inject-project/

·; EcoIsland TSB Funding

http://www.fuelcelltoday.com/news-events/news-archive/2012/july/ecoisland-progresses-tsb-grant-awarded-for-isle-of-wight-integrated-hydrogen-project

·; 700bar Dispensing Collaboration in Germany

http://www.itm-power.com/news-item/700bar-dispensing-collaboration-in-germany/

·; Marks & Spencer Pilot Materials Handling Fuel Cell Project

http://www.itm-power.com/news-item/ms-agreement/

·; UKH2Mobility with leading auto OEM's, UK Gov't and industrial gas companies

http://www.itm-power.com/about-itm/partners/?id=49

·; EcoIsland with Toshiba, IBM, Cable & Wireless, SSE and Southern Water

http://www.itm-power.com/about-itm/partners/?id=46

·; Boeing Unmanned Aircraft System Refueller

http://www.itm-power.com/news-item/agreement-with-boeing/ 

·; Electrolyser Distribution with Horizon Fuel Cells

http://www.horizonfuelcell.com/fuel_solutions_hbox.htm

·; CREO with Ford, Jaguar Land Rover and Johnson Matthey

http://www.itm-power.com/about-itm/partners/?id=45

·; Exclusive European distribution rights for Materials Handling Fuel Cells

http://www.itm-power.com/news-item/exclusive-european-distribution-rights-for-materials-handling-fuel-cells/

·; Sale of Equipment to EADS

http://www.itm-power.com/news-item/sale-of-equipment-to-eads/

·; EU Grant Award for PEM Water Electrolysers Coupled to Renewable Power Sources

http://www.itm-power.com/news-item/eu-grant-award-for-pem-water-electrolysers-coupled-to-renewable-power-sources/

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