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2 May 2014 07:00
2 May 2014
ITM Power plc
("ITM Power" or "the Company")
Second US Hydrogen Refuelling Station
ITM Power (AIM:ITM), the energy storage and clean fuel company, announces that through its US subsidiary, ITM Power Inc., it has received a Notice of Proposed Award ("NOPA") from the California Energy Commission ("CEC") for US$2,125,000 to supply a public 100kg per day turnkey hydrogen refuelling station in Riverside, California.
The NOPA from the CEC comes as part of PON 13-607, the second solicitation in a 10 year programme to deploy refuelling stations across California to support the roll out of fuel cell electric vehicles. In the previous round of this competition, ITM Power was successful in securing the supply of an electrolyser to Hydrogen Frontier Inc. for a station in Chino, CA.
The latest refuelling station is located in one of the prime areas highlighted by the CEC; at the City of Riverside's Alternative Fuelling Facility close to the 91 Freeway. The refuelling unit will replace a smaller, outdated station and will be capable of generating 100kg/day of hydrogen with the ability to dispense at both 350 and 700bar. The station will be operational by October 2015.
The project has been awarded NOPA and will now enter into a period of contract negotiation and agreement before being officially started following formal acceptance by the CEC. Further updates will be provided as the project progresses.
ITM Power Inc. MD, Stephen Jones, said: "We are delighted to have the opportunity to deploy our second unit in California as part of the CEC roll out programme. This unit will be fully under ITM Power's control as the lead organisation supplying the turnkey station together with our partners. This is an important step in our development as a US organisation and will allow us to further grow our presence and sales in both renewable energy storage and clean fuel in California and the wider United States."
For further information please visit www.itm-power.com or contact:
ITM Power plc Graham Cooley, CEO
| 0114 244 5111 |
Zeus Capital Tim Metcalfe (Nominated Adviser) John Goold (Institutional Sales)
| 020 7533 7727 |
Tavistock Communications Simon Hudson / James Collins | 020 7920 3150 |
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, £2m in 2013 and £10m in 2014 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.
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