Itm Power Regulatory News (ITM)

17 April 2014

ITM Power plc

("ITM Power" or "the Company")

ITM Power joins over 1,000 companies from more than 60 countries to sign up to a Trillion Tonne Communiqué

IPCC Report Highlights Energy Storage

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that, following the publication yesterday of the Intergovernmental Panel on Climate Change ("IPCC") report, it has signed up to the Trillion Tonne Communiqué. The Trillion Tonne Communiqué has been developed by The Prince of Wales' Corporate Leaders Group ("CLG"), a group of UK, EU and international progressive businesses who believe that there is an urgent need to develop new and longer term policies for tackling climate change. This Communiqué builds on the foundations of the previous Communiqués, all created by the CLG and managed and developed by the University of Cambridge Institute for Sustainability Leadership.

An event was held yesterday at the Institution of Civil Engineers - "Mitigation and Adaption: The Engineering Response to the Intergovernmental Panel on Climate Change", chaired by Chief Scientific Adviser to the Department of Energy and Climate Change, Prof. David Mackay. The most recent IPCC model predictions of global temperature rise, and analyses of mitigation and adaption strategies, were presented. Despite less pronounced increases in global surface temperatures in recent years, rapidly rising sea temperatures present strong evidence of global warming with concomitant consequences for ice sheets, sea levels, and the gulfstream.

The IPCC's assessment of the now vast body of international research evidence on climate change and the risks of inadequate action indicates that cumulative emissions of carbon from CO2 must be limited to 1 trillion tonnes if the global temperature rise is not to exceed 2°C. To achieve this requires the development of a zero emissions energy system, which exploits carbon capture and storage, renewables and alternative fuels such as hydrogen. Because the required rate of change is considerable, concerted action by the engineering community is essential. In parallel, much increased political and business commitment to accelerating transformational change towards a zero emissions energy system will be required. This is evidenced in the Trillion Tonne Communiqué via which numerous businesses, including ITM Power, are demanding a proactive policy response from national governments.

Commenting on the IPCC Report, Sir Mark Walport, Chief Scientific Adviser to HM Government and Head of the Government Office for Science, stated: "If we are to protect future generations from the most serious risks of climate change we must take decisive action now to reduce emissions. If we wait for the impacts to happen, it will already be too late."

Dr Graham Cooley, CEO of ITM Power added: "We have been making the case for not wasting renewable power for some time; energy storage using hydrogen can accomplish this simply and economically. The IPCC report spells out the imperative for global businesses to tackle climate change, and I am pleased to add ITM Power's signature of support for the Trillion Tonne Communiqué.For further information please visit www.itm-power.com or contact: 

About the Prince of Wales's Corporate Leaders Group

The Group convenes business leaders from major UK, EU, and international companies who believe that there is an urgent need to develop new and longer term policies for tackling climate change. Members include: Acciona, Anglian Water Group, Aviva, BSkyB, BT, Coca-Cola Enterprises, Doosan, DSM, EDF Energy, GlaxoSmithKline, Heathrow, Interface, Kingfisher, Lloyds Banking Group, Philips, Shell, Skanska, Tesco, Thames Water, Unilever, and United Technologies Corporation. The group has been formed under the auspices of The Prince of Wales and is managed by the University of Cambridge Institute for Sustainability Leadership (CISL).

https://www.climatecommuniques.com/Trillion-Tonne-Communique.aspx

About ITM Power plc:

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 and £2m in 2013 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.

www.itm-power.com

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