Itm Power Regulatory News (ITM)

30 Nov 2005 07:01

ITM Power PLC30 November 2005 30 November 2005 ITM Power Plc Research Update Composite Membranes and Direct Electrical Control of Fuel Cell Power Output ITM Power aims to provide enabling technology for the hydrogen economy and as anessential part of this process it continues to pursue fundamental research inall aspects of fuel cell and electrolyser science. This announcement, theCompany's first Research Update, comprises two developments, composite membranesand new methods of controlling the power output of fuel cells. These represententirely new aspects of fuel cell science, which may be fundamental to thesuccessful application of fuel cells in the long term. ITM's unique technology allows a wide range of material properties to beengineered into its ionomeric polymers. As previously announced, thesematerials can be made with either acid or alkaline properties, while in additionthe materials developed specifically for the Alcohol Fuel Cell Programme(announced on 30th August 2005) included variants produced by radiation graftprocesses which facilitate the production of thin films in a range of mechanicalstrengths and water contents. The ability to control and engineer theproperties of the Company's materials has now led ITM to two, potentiallysignificant, improvements to fuel cell systems: (i) Composite membranes. These are membranes in which one side of the membranecan be composed of an acidic polymer, while the other side is composed of analkaline polymer. Such a system is more costly to make because it builds on apre-existing membrane, but it enables the separate choice of different catalystson each side of the cell. For example, one catalyst chosen to operate in anacid environment with the fuel, while a second (different) catalyst operates inan alkaline environment with the oxidant. Because the cost of a cell dependsboth upon the cost of the membrane and of the catalyst, the overall system canshow economic and efficiency benefits even allowing for the increased cost andcomplexity of the membrane structure. Composite membranes potentially reducethe overall cost of a fuel cell system by raising efficiency, reducing catalystcosts and simplifying hydration control systems. (ii) Direct electrical control of fuel cell power output. Conventional fuelcells work well when operating steadily at full power, but the methods availableto change the power output or sustain operation at part load are problematic.There are two existing strategies to address this issue: firstly, to restrictthe fuel supply, but in doing so only part of the cell or cell stack operateswhile the rest 'idles'. This results in thermal and hydraulic stresses in asingle cell and the possibility of 'cell reversal' in a stack - a potentiallyserious problem. A second widely used method of control is to provide excessfuel and allow all the cells to operate at all times. This prevents damage tothe cells but involves a complex balance of plant to recycle the excess fuel andcontrol the output of the stack electronically. Neither process is entirelysatisfactory. Control problems represent a major (and costly) obstacle to theuse of fuel cells in situations (such as road vehicles) where rapid control ofoutput is essential. ITM has demonstrated direct electronic control of a fuel cell by incorporating acontrol grid into the junction between the two layers of a composite membrane.The result is in some ways analogous to the control grid used in electronicvalves or transistors although here it is the flow of ions which must becontrolled, not electrons. It is the availability of a composite acid/alkalinemembrane, as set out above, which has made possible the practical demonstrationof the control grid concept. The Company has filed patent applications both on the invention of a compositemembrane of enhanced properties including specifically an acid/alkalinelaminate; and on the use of control grids to act directly on and control theelectrical activity within a fuel cell. This technology has the potential toimprove the efficiency of fuel cells and offers a unique route to controllingthe output from a fuel cell. ITM considers that these developments represent asignificant addition to the long term value of its intellectual propertyportfolio and could be of considerable potential value to the Company. Commenting, Jim Heathcote, Chief Executive of ITM, said, "We believe that thesedevelopments represent an historic scientific advance. The breakthroughsannounced today help address some fundamental barriers to the adoption of fuelcells including hydration control, improved lower cost catalysis, higherefficiency and direct rapid electronic control over power output through what iseffectively the world's first "ionic transistor". "ITM is currently focused on proving the technology it has developed to make lowcost and durable fuel cells or electrolysers prior to commercial exploitation.During this phase of the Company's development, we are continuing to fileimportant patent applications that greatly increase our intellectual propertyportfolio and consequently our value. Our objective is the development ofconvenient and cost competitive systems that can rapidly enter the commercialmarketplace. We consider that these fundamental inventions significantlyincrease the value of our patented technology to future licensees and increaseour probability of successfully exploiting our intellectual property forshareholders." -Ends- For further information please contact: Jim Heathcote Gemma Chandler / Simon Hudson Katherine RoeITM Power Plc Tavistock Communications Panmure Gordon & CoTel: 01799 532860 Tel: 020 7920 3150 Tel: 020 7459 3600 or visit www.itm-power.com Notes to Editors About the hydrogen economy and ITM Power: ITM is a leading technical innovator of fuel cell and electrolyser technologiesfor the hydrogen economy. The future shape of the energy industry is being driven predominantly by thegrowth in the global demand for energy, the diminishing reserves of oil and bythe environmental impact of burning fossil fuels. Hydrogen Economy: • Term used to describe the use of hydrogen as a critical element inthe energy economy- of the future. • Benefit of hydrogen is that it has the potential to a be a totally "clean" source of fuel • The vision is that low cost electrolysers produce hydrogen from "clean" energy sources such as solar, wind and wave and fuel cells use thishydrogen to produce the electricity when it's required "If all the sunlight hitting the earth's surface in one hour was harnessed andconverted into electrical power, it would be enough to fulfil mankind's energyneeds for a complete year" - BP Solar Electrolysers, via an electrochemical process, convert electricity (fromrenewable energy inputs) and water into hydrogen (which can be stored) andoxygen and in turn fuel cells, via a similar process convert hydrogen and oxygeninto electricity and water. ITM announced in November 2004 that it had successfully produced and tested aMark III electrolyser stack, which has been operated at a power rating in excessof 200 Watts and are confident that the Company is well on track to achievetheir milestone of 500 Watts by June 2006. On the basis of these results, TheGenerics Group, an independent scientific consultancy, have estimated that inmass production it is possible to achieve $283 per kW. This closely approachesthe 2010 US Department of Energy target of $300 for an electrolyser stack. PEM fuel cells developed so far are currently estimated to cost several thousanddollars per output kW (for example, in February 2004, the US Department ofEnergy estimated the current cost of a fuel cell to be approximately $3,000 peroutput kW) whereas petrol engines are currently estimated at $50 per output kW. ITM's Technology: ITM Power plc believes it has developed and patented the keys to revolutionisethe hydrogen economy and is set to become one of the UK's leading innovatorswithin the alternative energy sources industry. ITM's ionically conductive polymer materials and manufacturing processes areused in the production of fuel cells and electrolysers, which are significantlycheaper than those presently used in production. The technology offers highconductivity, hydration control and has the benefit of catalyst recycling. TheCompany has the ability to produce low cost fuel cells that meet the energydemands of a wide range of industries and specialist technologies includingmilitary, automotive and stationary fuel cell markets as well as the capacity toproduce household items such as laptops, mobile phones and domestic appliances. ITM has patented a new manufacturing process that allows a fuel cell/electrolyser stack of cells to be made in a single process similar to a massproduction casting process. The process is capable of producing cells orstacks of any shape that may also be flexible so that they can be moulded intosmaller products, such as mobile phones. The Company has applied this technologyto a low cost electrolyser that can convert carbon free energy into cleanhydrogen fuel on site and on demand, therefore completing the circle of themanufacturing process. This information is provided by RNS The company news service from the London Stock Exchange