Itm Power Regulatory News (ITM)

25 May 2010

ITM Power plc ("the Company")

US Home Refueller Design Contract & Partnership

ITM Power plc, the energy storage and clean fuel company, is pleased to announce that it will be undertaking a detailed engineering design study for The NextEnergy Centre, a US business accelerator for alternative and renewable energy, for the development of an alpha prototype Small-scale Hydrogen Fuelling Appliance (SHFA) for 70MPa (700 bar) home refuelling, with consideration of 35MPa (350 bar).

The SHFA will be suitable for the next generation of hydrogen-powered vehicles currently being developed by major automotive OEMs. If successful it may provide a substantial part of the US public hydrogen fuelling network for commuter vehicles. In addition it will also facilitate the introduction of hydrogen vehicles in some commercial applications, such as hydrogen-powered fork lift-trucks for materials handling.

SHFA Design Study

ITM has been awarded a sub-contract from NextEnergy of US$81,000 over 10 months to design an alpha prototype Small-scale Hydrogen Fuelling Appliance (SHFA) for 70MPa (700 bar) refuelling. This will be capable of generating and delivering up to 5kg H2 per week in one or more refuelling events.

NextEnergy havereceived approval from the U.S. Department of Energy to utilize Congressional Appropriation funding to develop a 70 MPa Small-scale Hydrogen Fueling Appliance (SHFA). A Steering Committee is providing technical oversight for this 70 MPa SHFA project. The Steering Committee consists of NextEnergy, combined with the following OEMs: General Motors, Ford Motor Company, Chrysler, Daimler, AG, Toyota, Nissan, Hyundai-Kia Motors and Volkswagen. In addition the committee includes the California South Coast Air Quality Management District (AQMD), and the US Army Tank-Automotive Research, Development and Engineering Center (TARDEC).

http://www.nextenergy.org/services/collaborativeprograms/70mpahydrogen.aspx 

ITM will use its own IPR in providing the design study for Next Energy and will share any incremental IP generated within the contract with NextEnergy. ITM's existing IPR remains protected. The completion of the sub-contract may result in a joint venture with NextEnergy taking the design into prototype production and manufacture or licensing agreements.

Dr. Graham Cooley, CEO of ITM Power plc commented; "This agreement with Next Energy is an excellent opportunity for ITM to consolidate its considerable engineering expertise and experience in home refuelling whilst at the same time gaining exposure to the worlds largest automotive OEM's. The Next Energy project will put ITM on the world automotive stage."

Chuck Moeser, CHMM, Senior Consultant for Contract Development at Next Energy commented;"We are delighted to be working with ITM Power plc a pioneer in the field of home refuelling. The de-carbonization of the automotive sector is a significant focus for the US."

Note to Editors:

NextEnergy is a non-profit organization, founded in 2002 with assistance from the Michigan Economic Development Corporation (MEDC). Its initial charge was to implement an economic development strategy for the State of Michigan to accelerate research, development and manufacturing of Alternative Energy Technologies (AET) to advance the AET industry in Michigan. NextEnergy is now one of the USA's leading research catalysts and business accelerators for alternative and renewable energy.

http://www.nextenergy.org 

Since early 2007, NextEnergy has hosted the Fueling Specification for 70 MPa Compressed Hydrogen Vehicles on its website. In addition to providing the document for public review, NextEnergy managed the process of collecting, reviewing and editing content based on public comments regarding this specification. A Steering Committee provided technical oversight for the Fueling Specification. The Steering Committee consisted of NextEnergy and the following OEMs: General Motors, Ford Motor Company, DaimlerChrysler, Toyota, Nissan, Hyundai-Kia Motors and Volkswagen, as well as Air Liquide and Linde.

NextEnergy's role is to support the US DOE "Controlled Hydrogen Fleet and Infrastructure Demonstration and Validation Project" in the greater Detroit area; to integrate, within a core urban environment, critical hydrogen infrastructure components and systems for multi-use operations; to optimize integrated, system-based solutions to advance hydrogen infrastructure for vehicular and stationary distributed power generation use; and to provide a flexible "test" platform to advance the development and validation of commercial-type on-site generation technologies.

ITM Power has developed a range of materials and technology to reduce the cost of hydrogen production. The company is developing equipment to convert renewable energy to a clean fuel; storing the energy as green hydrogen for decarbonising transport, industrial and residential applications.

For further information please visit www.itm-power.com or contact: