Itm Power Regulatory News (ITM)

27 Feb 2008 13:05

ITM Power PLC27 February 2008 For Immediate Release 27 February 2008 ITM Power plc ("ITM" or "the Company") ITM Power wins top international award A British company leading the alternative fuel revolution has won a majorinternational award. ITM Power (AIM: ITM), which is developing ways of using hydrogen to fuelvehicles and provide power for homes and offices, has won The CleanEquity Monaco2008 Award for Excellence in the Field of Environmental Technology Research. The award was presented to ITM's Chief Executive Officer, Jim Heathcote, byH.S.H. Prince Albert II of Monaco at a ceremony in Monaco at the end of thetwo-day international conference on emerging environmental technologies. Jim Heathcote said: "This is a great honour and recognition of the hard workthat everyone at ITM Power is doing to make hydrogen fuel a commercial reality. "We have made tremendous breakthroughs in science and technology that will allowus to produce low-cost fuel cells and electrolysers. These products will openthe doors to zero emission energy solutions." ITM Power's scientists have been researching and developing the technology formore than a decade. Later this year the company will open a factory in Sheffieldto start commercial production. The company was founded in 2000 and is listed on the London Stock Exchange'sAlternative Investment Market (AIM). It employs around 60 people and has headoffices near Saffron Walden and research and development facilities inSheffield. CleanEquity Monaco 2008 involved more than 40 of the world's leadingenvironmental technology companies and about 300 delegates including specialistinvestors, national and international politicians and major constructionorganisations. Barclays Wealth and Barclays Capital were the main sponsors of the CleanEquityconference. For further information please contact: ITM Power plc 01799 542 222Jim Heathcote, Chief Executive Officer Panmure Gordon & Co. 020 7459 3600Katherine Roe Buchanan Communications 020 7466 5000Richard DarbyBen Romney Notes to the Editors: ITM Power is a developer of low-cost hydrogen technologies. The Company hasdeveloped new materials and processes that dramatically reduce the cost of fuelcells and electrolysers. The patented membrane materials used in the deviceshave higher performance and are 1% of the cost of the industry standardmaterials. Electrolysers work by converting water and electricity into hydrogen and oxygen.The hydrogen produced can be used as a replacement for fossil fuels andfacilitate zero carbon homes and pollution free motoring. ITM Power was founded in 2000 and floated on the London Stock Exchange'sAlternative Investment Market in June 2004. This information is provided by RNS The company news service from the London Stock Exchange