Itm Power Regulatory News (ITM)

25 Sep 2007 07:01

ITM Power PLC25 September 2007 For Immediate Release 25 September 2007 ITM Power plc ("ITM" or "the Company") Key US Patent Progress ITM Power's Fundamental Patent allowed in the USA ITM Power plc (AIM:ITM), the technology and research company focused on thecommercialisation of the hydrogen economy, is pleased to announce that it hasreceived a 'notice of allowance' for its fundamental patent application from theUS Patent Office. It is expected that the patent will be formally granted in thenear future. This is a major stage in, and vindication of, the Company's IP strategy. Thepatent application covers both the unique crosslinked hydrophilic ionicmaterials which underpin the electrolyser and fuel cell developments made by theCompany in the past several years, together with the novel production process.In combination, these developments have allowed ITM to develop low cost platinumfree electrolysers and high power density low cost fuel cells. Jim Heathcote, CEO ITM Power, said: "This announcement is particularly timely because we believe world-wide patentcover is essential before we ship our first products. We are making excellentprogress in constructing and fitting out the Company's new production plant andanticipate its completion by the year end, on time and on budget." 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 5000Ben WilleyRichard 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 housing 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