Itm Power Regulatory News (ITM)

28 Mar 2008 07:01

ITM Power PLC28 March 2008 For Immediate Release 28 March 2008 ITM Power plc ("ITM" or "the Company") Technical Update - March 2008. ITM Power Plc is developing the technology to provide alternatives to thepresent dependence upon hydrocarbon fuels. The technology is based upon themanufacture of hydrogen by electrolysis from sustainable resources, and itsre-conversion using heat engines or fuel cells. During January 2008, the Company announced that it had operated an electrolyserstack at low pressure using inputs in excess of 25kW, and another smaller unitat a pressure of 50 bar. At that time it had not been possible to operate anelectrolyser at 75 bar as required so that the Home Refuelling Unit (HRU) couldgive the ITM bi-fuel hydrogen-petrol car a range of 25 miles when operating onhydrogen. The Company is now pleased to announce that it has constructed an electrolyserstack and operated it at 75 bar using the ITM designed balance of plant, thusdemonstrating all the components of the HRU at full specification pressure forthe first time. During these tests, an electrolyser stack was pressure tested to 110 bar, andthen operated under the control of the refueller unit to self pressurise up tothe maximum design operating pressure of 75 bar after which it repeatedly filledan external portable pressure cylinder to the same pressure. In summary, the present trials demonstrate the capability of the ITMelectrolyser system to operate at the design pressure to charge externalpressure vessels to the operating pressure required to give the ITM car its fulldesign range of 25 miles. Jim Heathcote, CEO ITM Power, commented: "This is a major step in the demonstration of ITM's electrolyser technology andequally importantly the associated balance of plant. The 75 bar pressureobjective is important because it ensures that the ITM hydrogen car can achievethe 25 mile range; but once achieved, it also means that the Company can beconfident that it can meet and service many other commercial opportunities forwhich the pressure requirements are less than 75 bar; for example, low carbonhomes and standby power systems." 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 domestic 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