Itm Power Regulatory News (ITM)

29 Jun 2007 07:01

ITM Power PLC29 June 2007 Strictly Embargoed until 0700hrs, 29 June 2007 ITM Power Plc ("ITM" or "the Company") Progress Report ITM Power's principle aims are the commercialisation of the hydrogen economy andthe development of technology to enable the replacement of hydrocarbon fuels.The Company is pleased to announce significant progress in these objectives: Electrolytic Hydrogen Fuelling for the ITM Bi-Fuel Car: The Electrolyser: ITM is making good progress in the design and construction ofa 'home refuelling' system using an ITM electrolyser to convert renewable or offpeak electricity into hydrogen. This device depends upon an electrolyser stackof 10kW electrical input operating at pressures of 75 bar. The Company ispleased to announce that a prototype electrolyser has now operated at therequisite power (10kW). The pressure test target 75 bar (or 1125lb/sq inch) originally set for December2007 has been achieved. This programme was accelerated to provide earlytechnical information for the design of the 2008 factory production units whichare anticipated to combine both pressure and power capabilities in a singleunit. The Bi-Fuel Car: In conjunction with the University of Hertford, ITM hasmodified a petrol engine Ford Focus to operate using pure hydrogen able to besupplied by an ITM electrolyser before switching to gasoline. An ITM selfpressuring electrolyser has now successfully fuelled this vehicle. Drivabilityin public road conditions when using hydrogen has proved to be excellent. This vehicle has been refuelled with hydrogen to a pressure of 75 bar for rangetesting purposes and has exceeded 25 miles on a single charge of hydrogen bothwhen tested on a rolling road, and during testing on public highways. Later this year, ITM plan to publicly demonstrate both the vehicle andrefuelling system using electrolyser prototypes that will closely resemble theinitial units to be manufactured at the new Sheffield production site. Fuel Cell Developments: The Company is pleased to announce that the fuel cell cost reduction programmeis proceeding on track, and it has succeeded in increasing the performance ofits hydrogen and oxygen fuel cell system so that the resulting fuel cell meetsthe cost reduction target for June 2007 of less than $500/kW if produced inaccordance with the assumptions set out in the Technical Update, 18 October2006. This has been achieved principally by further increases in the power density atwhich the ITM hydrophilic material can operate, leaving the reduction inplatinum loading and/or the replacement of platinum as technologies available tomeet the Company's future cost reduction strategy. Membrane Durability: ITM's longest term electrolyser membrane test cell has been taken out of serviceafter 11,500 hours of intermittent operation (i.e. 11,500 hours on in a totaltest exceeding 20 months) following an anomalous decrease in operating voltage.Detailed examination shows that the membrane had become contaminated withmetallic debris, consistent with corrosion products from other parts of the celland associated test equipment. When removed the membrane was found to be robust,un-punctured and continuous, there was no evidence of chemical erosion orimpending mechanical failure. In the total test programme of well in excess of50,000 hours no other similar examples of anomalous voltage decrease have beennoted. As a precaution the Company is redesigning its longevity test cells toreduce the possibility of similar contamination disrupting future trials. Jim Heathcote, CEO, ITM Power Plc commented: "This longevity test has been inoperation for nearly two years and has achieved very positive results whichclearly make the product commercially viable. It should be noted that theprocess of contamination does not necessarily imply membrane failure and celldesign modification could further improve durability." Hydrogen Diesel Applications: ITM has installed an electrolyser and on-board emission monitoring equipmentinto a road-going vehicle (a Range Rover 3l diesel). This equipment hasdemonstrated that an ITM electrolyser can operate successfully in the demandingenvironment of a moving vehicle, and direct observations of reproduciblereductions in the principle emissions have been recorded while the electrolyserwas active. However, the full commercial or military implications of the resultscannot be judged in advance of a research programme such as that agreed withABRO. New Manufacturing Facility: The design work for the new 15,000sq ft Sheffield site is nearing completion andpreparation work has begun for the installation of the equipment to manufactureannually up to 10 megawatts of electrolysers. This plant will have one of thelargest electrolyser production capabilities in the world. The Company isfinalising the design of the electrolyser units which are anticipated to beproduced in the new factory. So far this programme is on time and budget. Jim Heathcote, CEO, ITM Power Plc commented: "The Company has made tremendoustechnical advances which are being included in the design of electrolysersystems for production in the new Sheffield facility in the first half of 2008.The Bi-Fuel car and refuelling system very clearly demonstrates a simple,convenient and low cost transportation solution that significantly reducesgreenhouse gases and helps mitigate climate change. We believe combiningelectrolysers with an internal combustion engine vehicle brings affordablehydrogen transportation forward by many years." Ends For further information please contact: Gemma ChandlerITM Power PlcTel: 01799 532 860Mob: 07921 057712www.itm-power.com. This information is provided by RNS The company news service from the London Stock Exchange