This must be the share of the future...........A co with 15 employees mostly Boffins with a unique product under development that has massive potential in the alternative energy sector
My only regret is that I watched the sp rocket from 11op to 210p before getting into the nose cone

Still watching Goosy? With the type of news from today this stock will be FOOTSIE bound before it even makes a profit

OEM deals 2H must be on the cards

Just for info

ITM has an electrolyser -- effectively a reverse fuel cell in that it converts power into hydrogen

Its Use

Its use is that it can use cheap electricity - nightime - to create the hydrogen (effectively an energy store) which can be used during daytime or stored in tanks such as petrol for car use etc. Crucially it can use the nuclear and wind energy generated through the night which currently is wasted.

The Costs

The reason why this share is flying is that ITM has massively brought down the cost of creating hydrogen.

Current gasoline in the states retails at about $3/gallon
1 gallon of gasoline is equal to about 35 KWH
Therefore cost of energy is 3/36= 8.3c per KWH

With latest announcement from ITM we have :
Electrolyser producing at $164/KWH (cost to be brought down substantially as have been able to takeaway need for platinum )
Plus durability of electrolyser - now 3500 hours (and still going)
Night time electricity say 5c/KWH
Therefore clean energy for 164/3500 + 5c (nightime elec) = 9.7c per KWH

To get to 8.3c ITM need electrolyser to produce at c $115/KWH which they infer that will pretty much be reached now that they have taken platinum out of the equation

Remember this is comparing to US untaxed gasoline

It's not often a company comes up with a technology that has the ability to blow apart vast swathes of other industries but this could certainly do it.

Get ready to plug in your car to fill up with hydrogen !! Okay you spotted it. First revs still a couple of years away but does that really matter when there has rarely been a stock with so much blue sky ......

PLACING DONE AT 3.20 SHOULD NOW GO PLACES ANY VIEWS.

share has dived but director buys ytd at 235p !! 100,000 shares

Now this share has come from 70p. But still the director buys more despite already owning 5% of co.

Now either he thinks the market doesn't understand the technology or he likes gamblling

Hi Confidant
I agree this is very likely to be one of the real technologies of the future
ITM have been astute enough to patent every step of the way and hence their IPR alone must now be way in excess of the current sp
The funds who bought in at 320p will have taken independent advice from top technical people before investing

I see the downsides as
Short Term ( next 6m)
Some technical problem may have developed around the time the 320p placement was made which has caused funds to hold off buying...... leading to a rush by little men to realise their gains to date.......
Long Term ( Next 3 yrs)
1 The Co is run by boffins albeit extremely good ones.........there is no way they will have the business expertise to grow the Co to a mega size...Indeed their declared intent to develop manufacturing prototypes on their own is evidence of faulty judgement since they are sacrificing speed to market in order to retain control.......much better to seek an experienced farm in partner (to borrow a phrase from the oil industry)
2 Illegal copying of ITM published patents around the world is probably already under way ..inevitably this will include copying by people who have the business expertise to get to the market more quickly perhaps even years earlier.....
leading to a future where patent arguments dog the business and a catch up scenario develops
3 Sooner or later the oil Cos will waken up to the threat posed by the hydrogen economy..............they will find ways to slow progress of fuel cell development
However the worst that I can see happening is that ITM is bought on the open market at a fantastic price well north of the 320p ........
Meanwhile the announcement of a 5000 hr life cycle will surely see another stepped jump in the sp DYOR

THE SP MAY GO INTO ORBIT IF A GOOD TECHNICAL UPDATE IS GIVEN NEXT WEEK

I think monday this could rocket , and perhaps may be see 250p , am in first thing , willing to take the risk, opinons would be appreatied.

I've taken the plunge. Too much temptation to bear at this level. Hoping this will be the green BP of the future!

ITM does look cheap at these levels but market sentiment is so bad at the moment that I cannot see 250 in the next few days, but probably in months.
I think ITM is a stronger company that Ceres yet Ceres has maintained it share price while ITM has collapsed which suggests that a recovery could be around the corner.
I am all tied up at the moment and could only possibly sell some of my SYM to fund a purchase yet I think SYM also have great potential.

Market analysts esp Citigroup keep calling ITM down as they maintain if there is an end market it is still years away

Tend to agree here and stock likely to go nowhere in short term - 3m or so.

I see your points from June Goosy and tend to agree -- they must be looking at some partnership deals which given the technology is reasonable.

The stock likely to languish until some partnership probalby Q4 earliest plus those institutions that could not get enough at 320p will want it off there portfolio by year end

But what the bears are doing are underestimating the material science behind the membrane that is still running 5,000hr+ and the low cost membrane 3500+. This is light years ahead of the competition. The bears don't seem to grasp this is the only way to get to a fossil fuel economy by using "wasted" energy from nuclear and renewable .

Having got out at betw' 220 -250 on both the way up and way down I'm sitting and waitng either for news or for below 120p

With the greatest respect Confidant I certainly hope it doesn't go down to 120p.

GDP I agree that SYM also has great potential but in the long term feel ITM will be the one (I am in both too).

MAKE YOUR OWN POWER ..........corrected post

ITM aim to reduce the cost of their electrolyser to $50/kw to $65/kw
And the cost of their fuel cell to $250/kw
ie at $1.75 =1
cost of 5kw Electrolyser around 186.....assuming $65/kw
cost of 2.5kw fuel cell around 357.......assuming $250/kw
Marcus Newborough of ITM claims the ITM electrolyser is 86% efficient at converting Kw to H2
No figures are given for the efficiency of the fuel cell but pem cells can normally achieve 60%


To make and store your own power in a domestic setting you would also need an H2 storage tank ,invertor, piping, valves and control electronics
Lets say this cost around 2000
Then
For an outlay of 2543 say 2600 it should be possible to use off peak grid power to make H2 and reconvert it back to power for use during the peak period
For a home using 6000kwh p.a
With off peak power available 70hrs/wk at 4.562p/kwh and peak power at 10.575p it can be shown that a saving of around 400 pa can be made without having to sell any power back to the grid
ie a payback of around 6.5 yrs
Further savings of around 150 could be made if the power company is prepared to buy back energy at a cost 10% below their peak rate
.......reducing the payback to 4.7 yrs
If the installation was scaled up by a factor of 2 the capital cost would probably increase by around 1.7 times and the savings would double
.....reducing the payback to around 4 yrs
And ..for evermore
The home would have a ready supply of cheap H2 at 50% of the cost of petrol for use when the hybrid car comes along

Dipping a toe into the cold cold water

I`m waiting until the sp has definitely bottomed.........even if it costs me 10p
.......with the technical update promised for Oct a bounce is surely inevitable over the next few weeks.....??

Let's hope so. This fall is well & truly over done. There is just SO much potential here!

itm now below 100p

Back in May they had to increase the amount of shares they issued because of huge demand -- placed at 320p. Raising 30m

Now mkt cap 100m take cash away 70m effectiively stock back to the 70p level reached quickly after float. Don't you love these markets

Volumes picking up in recent days give the sound of towel throwing by those eager May investors. Lovely

Better day today though Confidant...

queen1

perhaps my mail was confusing -- i'm picking up on days like Weds, taking some out on days like ytd but gradually building a position. I love the sound of towel throwing.

perhaps most worrying is heathcote -CEO is brother to PDX CEO who has just shown he puts a very positive glow on stinking figures which suggests he does not know what he is doing

let's hope the Heathcote @ ITM is more of a realist

Time will tell Confidant.

Confidant
Not defending the CEO ...but
The Heathcote at ITM timed the fund raising admirably and got enough cash to keep them going for at least 7 yrs.......This exercise drew on his real expertise as a founder of a fund investing in green businesses
Remains to be seen if he also has superior mgt skills to his brother at PDX....
....but he only need to repeat the May exercise every 7 yrs and the business could survive indefinitely

Bounce is nice :-) Plenty of stocks in small cap seem to be seeing this throwing in of towels by investors -- probably a sign that there is some appetite around to take the overhang of stock that we've had for last few months

Some bargains to be had

Hell of a surge tonight. Good news on the way tomorrow?

queen
I reckon some commercial news has leaked at the fuel cel demo promised for end Oct
Somebodies buying for sure so we may get an RNS

No further push today Goosy. I will be watching avidly :-)

here come the buyers -- same time, same place

Queen
I reckon next wk is the last chance for a PI top up before a steady rise to 200p by the year end.........
w/c 6 Nov ought to see funds come into the open
.......... if they plan to buy before the Xmas technical updates..
Why ??

.........theres no reason to wait since the shorters are unlikey to risk another big push downwards
..........Commercial news is somewhere in the pipeline
and hence sentiment driving the sp is very likely to be positive
DYOR

Research already done Goosy which is why I'm in! ITM is I feel a bit of a flier but if things pan out the right way the company could be absolutely huge in the medium to long term future. I know that I can lose 100% of my investment here but also feel I could make 2000% returns if the story goes the right way.

queen
given todays rise.........


Your last post was spot on.........hope it continues

Me too Goosy. The sp is almost back to where I bought in on the slide downwards. You never know, I could be in paper profit land by the weekend. Glad I stuck with it. 2000%? Well, you never know!

queen
I`m just above break even after averaging at 112p.........heres hoping we get a ride to 200p by the year end,,,,

ITM Power announces today that it has signed a Memorandum of Understanding with Hydrogen Engine Center Inc ('HEC'), an American company that designs, manufacturers and distributes alternative fuel internal combustion engines for the industrial and power generation markets. The joint objective is to develop products for a non polluting grid independent energy system which can undergo early field trial testing.

The purpose of the MoU is to provide a platform from which the two organisations can develop their respective technologies such that they can enjoy mutual benefits. HEC anticipates that ITM can offer an assured supply of hydrogen using ITM's low cost electrolyser technology. ITM anticipates that HEC provides an early route to the provision of a complete system package using HEC's proven engine technology.

The combination of a low cost electrolyser and a hydrogen fuelled internal combustion engine could provide the essential technology to convert low-value intermittent renewable energy (wind, solar) into a reliable non-fossil energy supply.

Subject to the production of satisfactory results from the field trials, ITM and HEC will progress into detailed discussions with the intention of entering a more formal commercial exploitation arrangement.

Jim Heathcote, CEO, ITM Power Plc, said: 'We are delighted to be working with the team at HEC. I believe that the collaboration of HEC and ITM brings together complimentary technologies that could provide significant commercial opportunities for both companies in the North American and European markets.'

Ted Hollinger, President, HEC, said: 'Both ITM and HEC have been developing technologies over the past few years and are now ready to bring them to market. By combining ITM's new low-cost electrolyser with HEC's hydrogen engines, customers will have access to turn-key hydrogen-fueled systems.'

Hollinger is ex Ford USA and Roger Putnam is ex Ford UK.........this must be the first sign of contacts being exploited ............

Looks that way. A positive move indeed.

Whats the betting on 200p by 31 Dec ?

Not sure. We seem to have stalled at 160-170p at present.

here we go again. Wait until you can see the whites of their eyes.... a million share turnover day --- then put you money in last ride was 70% this one probably just 50-60%

ITM Power has signed a Memorandum of Understanding with ABRO, a trading fund of the Ministry of Defence to use ITM's technology to develop equipment that improves the capability of diesel engines operating in military and civilian evironments.

The equipment packages will be designed for 'retro fitting' to specific vehicles and will be tested to establish their potential in military and civilian scenarios, the company said. No financial details were revealed.

ITM also reported that after the initial tests of its joint development programme with the University of Hertfordshire, the results of mixing hydrogen with diesel were positive and could reduce fuel consumption and emissions, thus improving engine operation.

The operation of a diesel engine using a small addition of electrolytic hydrogen from an on-board ITM electrolyser to the existing diesel fuel has shown significant improvements in the steady speed power output, the company said. The company added that, in view of the commercial sensitivity and potential value of these results it is not expected that any further technical up-dates regarding this collaboration will be made until trials have been completed.

The company also reported that its other project developing a Home Electrolyser Refuelling System and Bi-fuel car, which is intended to demonstrate the ability to refuel an existing petrol engined car with hydrogen anywhere that has access to water and electricity, is progressing satisfactorily. The company is on track to roll out a 10kW ITM electrolyser home refuelling device and a Bi-Fuel vehicle before the end of June 2007.

I've been waiting for that 1m t'o day -- looks like it's today but sadly can't resist so in I go. The water is cold I have to say

Why is ITM going down today?

who knows

my guess is big institution that has been selling for sometime wants to get rid of all before year end --- so the portfolio manager does not have to explain why he picked the stock up at 320p in the placing and it is now 1

Why now ? well next week will probably see big fall in vols as books closed for Xmas --"so let's get rid of it now". Why no concern on price --- probably bought for a spivvy gain and not v big part of managers overall portfolio. So even 20% here or there is not going to hurt his bonus as much as his ego will be hurt by having to report the mess up to his clients

At this time of year there are always plenty of Xmas presents left to us small investors by the good and the great of "the City". God bless them every one.

No wonder plenty of people taking advantage of the sale at the moment...LOTS of BUYS!

i might be a little too tempted to buy in if the S.P. drops below 100.

Confidant
Be brave ...........ITM is a share being traded by shorters who are now discovering that somebody is determined to mop up all shares available at or around 100p....

...my mop is getting a bit wet now

Good mopping everyone --- time for feet up and a cup of tea

Mops getting a bit drier now as the rollercoaster moves up yet again.......
.......Happy new year to all

Happy New & Prosperous New Year Goosy and all ITM holders.

Private equity firms supposedly interested in this sector this year according to ft.

not sure if this meets what private equity want does it? I thought they liked cashflow.

I like this share's volatility :-)

Perhaps venture capitalists is a more appropriate term than private equity firms Financial Times article
> Renewable energy begins to pick up speed as an investment
> By Fiona Harvey and Kate Burgess
>
> Worrying about the environment is not the prerogative of a fringe of
> ageing hippies it once was. It has become one of the hot topics of the
> capital markets.
> More than $70bn (36bn) of new money was invested globally in clean or
> renewable energy or clean technology last year, says Michael Liebreich
> at New Energy Finance, a specialist research firm. That was a 43 per
> cent increase on the year before, he says.
> He reckons there are more than 1,246 private equity funds targeting
> environmental projects: "All the biggest private equity houses are
> looking at this space."
> The latest to launch a fund was Hg Capital, which reported last week
> it had raised EUR330m (222m) for a fund investing in renewable power
> in Europe.
> Conventional asset managers and hedge fund managers are joining the
> fray. According to the UK Social Investment Forum more than EUR780bn
> had been invested in socially responsible investments and funds and
> the bulk of SRI funds use environmental criteria to pick stocks.
> Standard Life Investments and Merrill Lynch Investment Managers have
> both highlighted the environment as an important investment theme for
> 2007 as environmental issues become more integrated into mainstream
> asset management and corporate behaviour.
> "Investors are seeing potential for profits, from the trading of
> pollution permits to investing in new technologies and approaches
> designed to cope with increasing scarcity of resources such as oil and
> water," says Standard Life.
> As the investment case for renewable energy strengthens, more
> companies are being drawn to list on the public markets.
> So far 50 companies focused on renewable energy have floated on Aim
> and more are expected in the next year or so.
> Wind power and ethanol turned out to be the best bets for investors
> last year in the burgeoning market for renewable energy.
> The highest performing renewable energy stock on Aim, by a large
> margin, was Clipper Windpower, the developer of wind farms in the US.
> Clipper, whose chairman is the former Conservative minister Lord
> Moynihan, more than doubled in value during the year, continuing the
> strong performance since the company listed in September 2005.
> Shares in Clipper jumped more than 75 per cent in July when the
> company announced a deal with BP to develop jointly five wind farms in
> the US.
> Wind is the most mature of all renewable energy technologies and
> companies with good wind sites can make substantial profits as
> electricity prices have remained high.
> Turbine design has advanced to allow much more power to be generated
> than was possible in the past, up to 3MW or even 5MW in the case of
> the biggest models. In addition, most developed country governments,
> including the UK and the US, offer a subsidy for wind power
> generation.
> The mixture of government support, high energy prices, carbon trading
> and concerns about the security of energy supplies have all combined
> in the past two years to make renewable energy an attractive sector.
> High energy prices have changed the economics of renewable energy, as
> has carbon trading, initiated by the European Union in January 2005,
> which puts an extra cost on fossil-fuel power generation, making
> renewable energy more economical.
> More than 500m of wind turbines were commissioned in the UK in 2006,
> according to the British Wind Energy Association.
> But investors ought to be wary of the potential problems associated
> with wind power.
> Shane Woodroffe, director of renewable energy at Fortis Bank, notes
> there are estimated to be more wind farms in planning in the UK, or
> about 2GW to 4GW of generating capacity, than there are wind farms
> already operating.
> That reflects the difficulty of gaining planning permission from local
> authorities. Companies must also get permission for any additional
> networks of large pylons that must be set up to connect remote wind
> farms to the electricity grid.
> Many of the UK's windiest sites, and those where planning permission
> is relatively easy to obtain, have been taken.
> Potentially more damaging to investors is that the Department of Trade
> and Industry is to review its subsidy regime in 2007 and may reduce
> the money available for onshore wind farms.
> The Carbon Trust, one of the government's chief advisers, has called
> for other less mature technologies, such as offshore wind farms and
> tidal and wave energy, to be favoured in future.
> Complicating matters further is a global shortage of wind turbines,
> caused by greatly increased global demand and high steel prices.
> David Fitzsimmons, chief executive of Novera Energy, one of the UK's
> biggest pure play renewable companies, says he expects consolidation
> to take place this year. "We're taking this forward from being a
> cottage industry," he says. "I think the interest will be in
> [companies with] existing assets rather than developing new assets."
> Ethanol companies such as Renova Energy and GTL Resources also fared
> well in 2006. They are cashing in on the ethanol boom in the US.
> However, there are potential dangers for these companies too. The crux
> of their business model is to exploit the lower price of ethanol
> compared with petrol.
> Yet those economics are changing as a bad grain harvest in many places
> has pushed up the price of their raw materials, while the oil price
> has come off its recent highs.
> Investors putting their faith in other biofuels will have seen mixed
> results. D1 Oils, a company founded and chaired by entrepreneur Karl
> Watkin, plans to make biodiesel from the jatropha plant, which it
> believes it can grow in countries such as India.
> The company's shares have almost halved since April. It said this
> summer it was in early discussions about a buy-out but instead is
> raising nearly 50m by means of a share placing.
> In the meantime, a series of problems at its Teesside factory has
> beset the indebted Biofuels Corporation, which warned last month it
> would have to seek more funding next April in order to continue as a
> going concern.
> Emissions trading specialists have sprung up to take advantage of the
> new markets in carbon dioxide brought into being by the Kyoto protocol
> and the European Union's greenhouse gas emissions trading scheme.
> These have also experienced divergent fortunes. Climate Exchange was
> one of the best performers of "clean energy" companies on Aim, but
> Trading Emissions lost value during the year. Yet the UK is likely to
> remain the centre for emissions trading for the foreseeable future,
> according to Paul Newman, London managing director at Icap Energy (see
> profile below).
> One of the renewable energy technologies to have received most hype in
> the past few years is the fuel cell. These devices, which generate
> electricity from hydrogen or ethanol, have been around for decades.
> However, the technology to make them has not yet been proven and it
> remains several years from widespread commercial application.
> In April this year, the fuel cell specialist ITM Power was one of the
> relative heavyweights among renewable energy companies because it had
> found a way to make it cheaper to produce some of the important
> components in hydrogen fuel cells.
> However, as it became clear this technology would take years to come
> to market, the company's value fell from 140m to 125m.
> Renewable energy in general is poised to receive more investment in
> 2007, according to Mr Woodroffe of Fortis. "I'd say this will be one
> of the big growth markets, definitely."
> Venture capitalists are also taking a keen interest. Mark Kerr, a
> director at 3i, which last month invested EUR30m in Electrawinds of
> Belgium, says: "The economics of renewable energy are more compelling
> than the economics of traditional power generation opportunities from
> a venture capital perspective, because traditional power is a mature
> industry but renewable has huge opportunities for growing companies."
> He said he also expectedto see consolidation in the renewable
> industry, whichis characterised by a large number of small companies
> and a few big energy companies that dabble in renewable energy.

Could be a good time to jump in - S.P. is as low as its probably going to get and in the tick up to 2008 and commercialisation the shares should rocket

Picked up some over last few days, this time though I'm not trading out. This time its for real...............................well, it could be

Ha! Ha! We're all hoping so Confidant :-)

Buyer in, looks to have set new base level for stock -- back to 150p?

Your`e probably right Confidant
Some severe fluctuations today.........up and down......this cannot be down to shorting so there`s only one conclusion...............somebody is trying to buy consistently on the cheap.............this could go on for weeks but the key factor is that the dominant trend seems to be up.......... the daily sp movement after Wall St opens may be worth studying .........if the US and canadian cos who sell onboard electrolysers have seen the Piper Jaffray presentation......they must be wetting themselves at the prospect of being undercut by 50% by a co whose margin would still be well over 100%

Price behaviour of this stock today looks to be A+. There is a buyer there taking up the loose stock. Just need some news now and the upside should move to 180 from 160

ITM looking very cheap at 115p now.

Seems to be same old story --- so difficult to value so jumps on good news just to drift back -- very nice to trade

These levels have seen bottom before . Given money raising at 320p and underlying IP rating looks extremely low but until there are tie ups with milesone payments or some sort of commercialisation of product probably more of the same

Moving on up to 120p today and I would say this is still a strong BUY.

Hope investors are familiar with this broker tip report :-)

http://zenergypower.com/pdf/press-en/Top%20Picks%20for%202007%20-%20January%202007.pdf

Bit of a break-out from recent sub 130 these rallies seem to conk out at 155 without an RNS and I can't see that happening because of the recent director dealing

apparantly a small broker has put out a note saying mid-case stock target is 6.!!! Poor case 3 !!!!! All goes well ......... 12. Hence last few days I guess

"All goes well 12" - that'd do me!!

Confidant. Did you just hear that by word of mouth or do you have a link to confirm?

Mmm. Just to step in I remember a large broker, cannot place the name, seeing ITM as the next Shell, giving it a price target of 12.

Its always a good buy IMO around 100 - 105 to grab a 50p gain in a few weeks and then sell.

I Wonder if Panmure are still their nominated broker/advisor

Alternative Energy: ITM Power (ITM: 110p) We believe ITMPower possesses one of the most interesting alternative energytechnologies available to investors as its technology enables a hydrogen economy that is cost competitive with fossil fuels. With commercial production, revenues and profitability possible far sooner than widelyunderstood (18-32 months), ITM is a bargain at these levels. We have price targets of 325p (1-year) and 1,000p (24-months). (John-Marc Bunce

Just an example of the wild price targets from Ambrian research team.

They look good to me!

conno

Just heard it by word of mouth -- not usually privy to such info --- but apparently went on about as it produces hydrogen v cheaply could see first sales into the chemicals industry for fertilizer etc

No idea on validity of above but sounds plausible.

Remains, to me, a concept stock with so much blue sky , Mkt cap such that really big moves i.e back above 200p should probably need solid newsflow. Has plenty of cash following that institutional placing at 320p :-0. Nice to get back there at least eh!

Confidant.Thanks for getting back to me.

It's so much more than a concept stock to me. Their technology is way ahead of the nearest competition. I feel it's true that they hold the keys to enable the hydrogen economy. Bold statement I know but there you have it. All of the pieces are slotting into place. IPCC reports. China now on-board. A quantum leap of attitude change in the US. Peak Oil and energy security. The weather is really changing before our very eyes, no longer any doubt about that. I accept it could still be a natural cycle and not man-made but getting the stink out of cities would be still no bad thing even if CO2 emissions are not the main cause of global warming.

Regarding ITM, we should be hearing some [hopefully] very positive news in the next couple of months Ref; 1\ ABRO Trials. 2\ Hydrogen Refuelling Device / BiFuel Car Trials.

Plus there's always the unexpected, like the rumour behind the sudden spurt late Friday afternoon. Nothing concrete at present but I think ITM holders will like the sound of the FT.com link below.

Good luck


http://www.ft.com/cms/s/d0be848a-faa7-11db-8bd0-000b5df10621.html

http://www.solarworld.de/index.php?L=1

Will be a great buying opportunity if the SP slips below 110 - 100.
Will invest if I have any funds when that happens.

Play of the week in shares mag

ITM is a good buy at 142p now. Keep on buying

Leaky stock moving up

BUY BUY BUY is the only message for ITM. Still cheap to BUY at 150p.

not really Hyleo.I think ill wait the inevitable slide to 110.
To quote myelf -
G D Potts - 03 May 2007 09:33 - 67 of 78
Its always a good buy IMO around 100 - 105 to grab a 50p gain in a few weeks and then sell.

Maybe you are right, GD Potts. I got to sell then and hope for it to fall.

news at last

http:/www.carkeys.co.uk/news/2007/june/29/13510.asp

Have finally invested, believe the recent news is strong enough to support the price above 120 and will look to this as a long term investment.

This is the news thats pushing the SP higher.

ITM Power PLC
29 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 and
the 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 of
a 'home refuelling' system using an ITM electrolyser to convert renewable or off
peak electricity into hydrogen. This device depends upon an electrolyser stack
of 10kW electrical input operating at pressures of 75 bar. The Company is
pleased to announce that a prototype electrolyser has now operated at the
requisite power (10kW).

The pressure test target 75 bar (or 1125lb/sq inch) originally set for December
2007 has been achieved. This programme was accelerated to provide early
technical information for the design of the 2008 factory production units which
are anticipated to combine both pressure and power capabilities in a single
unit.

The Bi-Fuel Car: In conjunction with the University of Hertford, ITM has
modified a petrol engine Ford Focus to operate using pure hydrogen able to be
supplied by an ITM electrolyser before switching to gasoline. An ITM self
pressuring electrolyser has now successfully fuelled this vehicle. Drivability
in 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 range
testing purposes and has exceeded 25 miles on a single charge of hydrogen both
when tested on a rolling road, and during testing on public highways.

Later this year, ITM plan to publicly demonstrate both the vehicle and
refuelling system using electrolyser prototypes that will closely resemble the
initial 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 programme
is proceeding on track, and it has succeeded in increasing the performance of
its hydrogen and oxygen fuel cell system so that the resulting fuel cell meets
the cost reduction target for June 2007 of less than $500/kW if produced in
accordance with the assumptions set out in the Technical Update, 18 October
2006.

This has been achieved principally by further increases in the power density at
which the ITM hydrophilic material can operate, leaving the reduction in
platinum loading and/or the replacement of platinum as technologies available to
meet the Company's future cost reduction strategy.


Membrane Durability:


ITM's longest term electrolyser membrane test cell has been taken out of service
after 11,500 hours of intermittent operation (i.e. 11,500 hours on in a total
test exceeding 20 months) following an anomalous decrease in operating voltage.
Detailed examination shows that the membrane had become contaminated with
metallic debris, consistent with corrosion products from other parts of the cell
and associated test equipment. When removed the membrane was found to be robust,
un-punctured and continuous, there was no evidence of chemical erosion or
impending mechanical failure. In the total test programme of well in excess of
50,000 hours no other similar examples of anomalous voltage decrease have been
noted. As a precaution the Company is redesigning its longevity test cells to
reduce the possibility of similar contamination disrupting future trials.

Jim Heathcote, CEO, ITM Power Plc commented: 'This longevity test has been in
operation for nearly two years and has achieved very positive results which
clearly make the product commercially viable. It should be noted that the
process of contamination does not necessarily imply membrane failure and cell
design modification could further improve durability.'


Hydrogen Diesel Applications:


ITM has installed an electrolyser and on-board emission monitoring equipment
into a road-going vehicle (a Range Rover 3l diesel). This equipment has
demonstrated that an ITM electrolyser can operate successfully in the demanding
environment of a moving vehicle, and direct observations of reproducible
reductions in the principle emissions have been recorded while the electrolyser
was active. However, the full commercial or military implications of the results
cannot be judged in advance of a research programme such as that agreed with
ABRO.


New Manufacturing Facility:


The design work for the new 15,000sq ft Sheffield site is nearing completion and
preparation work has begun for the installation of the equipment to manufacture
annually up to 10 megawatts of electrolysers. This plant will have one of the
largest electrolyser production capabilities in the world. The Company is
finalising the design of the electrolyser units which are anticipated to be
produced in the new factory. So far this programme is on time and budget.

Jim Heathcote, CEO, ITM Power Plc commented: 'The Company has made tremendous
technical advances which are being included in the design of electrolyser
systems 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 reduces
greenhouse gases and helps mitigate climate change. We believe combining
electrolysers with an internal combustion engine vehicle brings affordable
hydrogen transportation forward by many years.'


Ends


For further information please contact:


Gemma Chandler
ITM Power Plc
Tel: 01799 532 860
Mob: 07921 057712

www.itm-power.com

Looking fowards to the results too - 31st of July.
Very positive near 10% rise today, already above my buy price early doors.

Really excellent news all round and very much worth the wait. Onwards and upwards!

ITM may not be about to sweep the world, but their approach was indirectly endorsed by Honda recently, who said that in-home hydrogen generation could become standard practice in 10 years or so.

- REUTERS

Results and progress report due next Tuesday,move northwards for the sp. imminent imo.

11% + today.

Great recovery after the last few days,

RNS at 17:15.

Peter Hargreaves purchased 150,000 shares at 108p.

6 August 2007.

Good progress from ITM...this is a BUY.

ITM Power PLC
25 September 2007


For Immediate Release 25 September 2007


ITM Power plc

('ITM' or 'the Company')

Key US Patent Progress

ITM Power's Fundamental Patent allowed in the USA

ITM Power plc (AIM:ITM), the technology and research company focused on the
commercialisation of the hydrogen economy, is pleased to announce that it has
received a 'notice of allowance' for its fundamental patent application from the
US Patent Office. It is expected that the patent will be formally granted in the
near future.

This is a major stage in, and vindication of, the Company's IP strategy. The
patent application covers both the unique crosslinked hydrophilic ionic
materials which underpin the electrolyser and fuel cell developments made by the
Company in the past several years, together with the novel production process.
In combination, these developments have allowed ITM to develop low cost platinum
free electrolysers and high power density low cost fuel cells.

Jim Heathcote, CEO ITM Power, said:

'This announcement is particularly timely because we believe world-wide patent
cover is essential before we ship our first products. We are making excellent
progress in constructing and fitting out the Company's new production plant and
anticipate its completion by the year end, on time and on budget.'

Good news indeed :-)

Cooperative Research and Development Agreement (CRADA) with United States Naval
Undersea Warfare Center

ITM Power plc (AIM:ITM), the technology and research company focused on the
commercialisation of the hydrogen economy, is pleased to announce that it has
signed a cooperative agreement with the Naval Undersea Warfare Center Division
Newport (NUWCDIVNPT) to collaborate in the development of advanced power systems
for Unmanned Undersea Vehicle (UUV) applications. The following is an agreed
public statement of objectives:
'This CRADA will enable discussions and investigations of dual liquid fuel cells
for unmanned undersea vehicle (UUV) applications including identification of
critical operation parameters having relevance to the development of materials
and systems within the dual liquid fuel cell and fuel supply areas. These
collaborative efforts between ITM Power and NUWCDIVNPT will include
investigating the potential for ITM Power designed fuel cells to meet the needs
of the operation parameters identified. Under the CRADA, NUWCDIVNPT and ITM
Power will also identify and define additional research and development to make
ITM Power fuel cells meet the operational parameters defined and to quantify
those research and development efforts in terms of time and money.
The U.S. Navy has an interest in fuel cell technology and is investigating a
number of options with which to advance its UUV program. ITM Power has an
interest in furthering research and development of its specific fuel cell design
and will, along with the Navy, benefit from this collaborative effort.'

Jim Heathcote, CEO ITM Power, said:
'We are pleased to be working with the US Naval Undersea Warfare Center. We
believe electrolyser and fuel cell systems have many military applications and
we hope this agreement will open the door to large potential markets for our
technology.'

Panmure Gordon 11/12/07.
has a hold for Ashtead Group (LSE: AHT.L - news) (AHT), cutting target to 90p from 150p, has a hold for Cadbury (CBRY), a buy and 12.50 for Carpetright (CPR), a hold and 350p target for Domino Printing (DNO), a buy and 126p target for Driver (DRV), a buy and 11.69 target for Fidessa (FDSA),

a buy and 340p target for ITM Power (LSE: ITM.L - news) (ITM),
price today 133p

That's huge news IMO jimward9. If they can get their technology into the US military the sky literally could be the limit.

ITM Power a Tiddler to watch in The Times today. Details not yet on Times website - will post when I can.

... still not on Times website, but the paper has been delivered!

"ITM Power, the developer of hydrogen fuel cells, was up 5.75p at 129.75p after signing a deal wtih the US Navy to develop fuel cells for an unmanned submarine. Mark Davis, if Panmure Gordon, retained his 'buy' advice with a 340p target, saying the agreement could lead to further relationships with the US Navy."

All good, all good!

I can't help but feel that one day this year this will take off like a rocket again....

a lot of institutions got burnt on ITM. Ceres is also the heavily favoured Fuel cell play by the majority of investors, so that rocket may not be around the corner

Panmure Gordon's recommendation cannot be trusted.

Euhhh !, did I mention something about a rocket, just a coincidence I think...unless...

Under 1 today - crazy given the potential.

Interims out tomorrow, doesn't look very promising or does it?

will certainly rebound above 1. Look at the chart. The SP yo-yo's between 100-150 over weeks

Loads of potential, lots of cash, big orders bound to come very soon and it dives !

What on earth has happened here today, the market surges and this one drops like a stone, a little overdone if you ask me !

did i mention something about a rocket ?

Potentials yet to be materialised...in this kind of market, potentials are not potentials until they are achieved.

G D Potts, it was more like a quick firework at the time; hlye98 the potential of this stock is huge, a deal with Ford or General Motors for example would double the sp overnight, there is a strong possibility of something like that happening, but like you say : you never know what's coming next in this kind of market, and people want immediate profits, in the long term (3 years or so) we shall see this stock once again above the 3 level, in the short term it might bounce back above the 1 level again !

What the hell's happening with ITM today - down 20% in the first half hour this morning?????

Wow! It took a very long time to break down through 105 support despite major market turbulence , and I guess shorters have gone in for the kill as is the case with many of the alternative energy stocks. May be trouble at mill or a good chance to buy or catch a falling knife.

Got my fingers burnt here this morning, can't quite believe it !, don't know whether to stay in or quit !

I'm going to stay out, caught too many sharp knives in the past! I like the company and the product but they are probably a long way from making any money and their product could ultimately be copied in the far East. This market favours defensive stocks and ITM are more Blue sky than chip. It is possible that market makers are forcing it down to get a big buy through, though if that is the case it won't stay down for long

Really crazy, approx. 40% of this company value now is cash !

I feel ITM is a falling knife at the moment and investors certainly has no patience in a falling market with a high risk of recession. Products could come out end of year and that's far too long to wait.

A few people buying in, can't blame them, I would have done so myself this morning instead of last friday, blast !, and I did a daft thing to put in a very low stop loss instead of my usual tight one on last friday afternoon's rise.

Looks like it was a dead cat bounce!

It's a crazy price. All of the above arguments are valid but it still doesn't add up IMO. I'm staying put and we'll see whether or not that loses me my shirt.

Close to 30 million in cash, market value at todays price of approx. 72million, is it me ?, or is this undervalued ?, my way of thinking is that it would only take one big contract with some company and this should rocket, or perhaps not in this market !

Indeed it should rocket (ITM-powered of course!). The question is, when will those big contracts start flowing through.....?

Anybody's guess, but some announcements should be coming our way this spring, summer; in the meantime we might get a more settled sp and you never know : a price increase from this ridiculous low that we are at the moment !

http://oilbarrel.com/home.html

The above has a story on fuel cells

THe longer this stabilizes : the more the chance of a little recovery up to the 80p mark !

wow...it is 87p now.

Moving up today with other fuel cell recovery stocks.

Could be Ceramic Fuels is helping, the same big order type could happen to ITM !

Still slipping...ITM is 62p now

Here we go again...ITM (seo style) buying frenzy again....I've been in for years at a loss in this one...going up like a rocket now...will it last ?

This could be the start of a steep climb upwards !

get this one back to 1 as well and I can start to smile again lol

I'm up at the moment, bit of a roller coaster this one! Must be a long term prospect :-)

let's hope!

A couple of months ago an analyst put a price target of 2.50+ and then it was downgraded by another to 50p so who knows ....

i confess amazement that a director, albeit non- exec, can buy a swathe of shares just 10 days before a major announcement that would clealy impact sp .... it is absolutely inconceivable that he could not have had prior knowledge of the imminent collaboration agreement.

This is called insider trading...report it to FSA.

moi? .... it's self-apparent and will de facto have been drawn to FSA's attention

so this is going to go north or shorters will be in force tomorrow guys.any views.there was a heavy trading on friday,and mainly buys so looks good for next week in my opinion.as long as it brings profit thats what really matters.

If FSA investigations takes place, this will move south rapidly.

50.75p...driven south again

Must be an update soon....and a rise !

does any one know why the price is slow low??? i used to trade this stock actively in the 100 to 150 range, thinking about jumping in again at these low prices

does any one know why the price is slow low??? i used to trade this stock actively in the 100 to 150 range, thinking about jumping in again at these low prices

They were downgraded by a broker after the results to 50p which gave the market an excuse to hammer them. Now totally out of fashion because they don't deal in oil. No doubt their day will come again sometime in hopefully not the far distant future!

Waking up at last?

Seems that way today halifax........

Well up today can we expect some interesting news?

quite a few buys reported in the past half hour,might see a lift off,any one as this stock can be very unpredictable at times.

ITM is starting to weaken...49p now.

When this stock shakes off the shorters it should rocket

RNS re hydrogen power sp yet to respond positively but media interest may push it higher.

we have no chance of this until the market changes. You could even argue it is at the top of it's recent trading range. WHEN the mkt improves I've no doubt this will be back into the 1 - 3 range.

Until then all we can do is sit on paper losses

http://www.fleetnews.co.uk/news/story/?nID=47741

Thanks jimward9.

I wish they would start mass producing that ITM car quickly.....might even consider one myself as a runaround !, that would involve a terrific co-operation with Ford.

http://www.fuelcelltoday.com/online/news/articles/2008-07/ITM-Power-Shows-Electrolyser-Mem

not untill there is an infra structure across uk to support this technology.

shadow
you need to research ITM a bit more, look for the (green box) here:
http://www.itm-power.com
this comes with its own (infra structure) to make your own hydrogen.
Then switch back to petrol if you run out on the road.

Up 20% today any news?

The Company also announces it will be reporting Preliminary Results for the year ended 30 April 2008 on Monday 28 July 2008. An analyst meeting will be held on the day of the results at the offices of Buchanan Communications, 45 Moorfields, EC2Y 9AE

if the analysts like what they hear (i think everything is now in place) these could move up to 100p/150p area very quickly, roll on next week.

or the opposite of course.
Last time after results, analysts downgraded them and they fell 50%.
Care to take your chance?

this year they have products to sell and the factory to make them in, last year all we heard was soon we will have.

What to do sell now or wait for interim results on monday, in this market even good news tends to be ignored?

SELL...it is 47p now.

Support gone.

You're like the Black Death hlyeo98 - totally unwanted and heaping misery wherever you go.

Oh and by the way - did you have to study long to get your degree in stating the obvious?

q1
you may or may not like our grim reaper, but if he appears on our stock bb then its time to take notice and make decisions.
to answer your question, i think he studied short.
but thats just my opinion
regards
jkd

Oh please - EVERY stock is plummeting at present. Very bloody grim. We don't need the constant gloating and visual aids. We all know what's happening!

q1
i feel for you. i was there in 87 and it aint nice.
its still not too late to take action.
im not suggesting selling out or even holding on, just that you may look back when things settle down and think well i could have done this or maybe that.
maybe its difficult for many to think straight at the moment. it probably is.
it was for me.
i recovered and am all the better for the experience.
couldnt see it at the time and yes it did cost me a packet.
good luck to you.
regards
jkd

Thanks jkd. I'm resisting the urge to panic sell like most seem to be doing. I may live to regret the decision or it may prove to have been a wise move. Only time will tell.

Q
You can always buy in again. Either lower or higher when you have some faith in the markets.

I would if I had any cash!

16p now...I hope I have prove my point that ITM Power is just a company waiting to fold.

intrims end of the month, will see what is in the bank this sp maybe a discount worth a watch

sp currently at about half of the cash in the bank, no debt.

Some of their technology will come through just fine and some will drop away.


Just hope they will get rid of that incompetent idiot of a CEO, Jim Heathcote.
Totally out of his depth and there only to fill his boots -- which he has done many times over.

Very good potential with about 24 million in the bank but shame about the incompetent CEO. The right CEO would drive them forward and put them on the map.

The success of their technology will determine whether they have anywhere to go, rather like CRA.

11.5p now ... I hope I have prove my point.

NEWS TUESDAY!

Is there any hope left for ITM !!
Or are we witnessing another company to fold.

With 20m in cash, no debt and annual cash burn of under 5m, there is time and cash for them to get their hydrogen technology products selling into the market before cash dries up.

Trading at about 40% below current cash levels at the moment.

Products on the market possibly later this year.

stellar rises this last week,where are all the comments? products coming on line seem to be the driver.

Don't miss out on the best fuel cell investment potential, as per the analysts this is AFC Energy.

Shares in issue 150,872,854
Share price 19.25p
Valuation 29,043,024


Hoodless Brennan said last Friday afteroon - "We maintain our SPECULATIVE BUY and still see AFC as more valuable than Ceres or CFCL."

http://www.proactiveinvestors.co.uk/columns/hb_markets/18645/hb-markets-daily-smallcap-newsflash-including-afc-energy-brammer-craneware-tanfield-and-others-18645.html

CFCL is valued today at 92.7m.

Ceres is valued today at 53.9m.


So Hoodless Brennan see AFC as more valuable than the 92.7m that CFCL is currently valued at.

92,700,000 divided by AFC shares in issue of 150,872,854 would give AFC a share price of 61.44 pence.

To get to 61.44 pence from it's current 19.25 pence, the share price would have to rise 235%.


Hoodless Brennan said "more valuable", but they did not say how much more valuable, it could be they think AFC is a lot more valuable, perhaps in line with the Allenby NPV(Net PRESENT Value) of 137 pence.

http://www.afcenergy.com/investors/analyst-reports/

To get to 137 pence from it's current 19.25 pence, the share price would have to rise 612%.


So the professional analysts see a fair and realistic valuation for AFC, as at least 235% up to 612% above the current valuation.

Take your ramps and put them on the correct thread!

Lovely basing chart forming here at ITM......

Broker backing chart up aswell......

ITM Power PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Panmure Gordon
28-07-10 BUY -6.23 -5.61 -6.91 -6.27

2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus -6.23 -5.61 -6.91 -6.27

1 Month Change 0.00 0.00 0.00 0.00
3 Month Change 0.00 0.00 0.00 0.00


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS % % %
DPS % % %

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA -5.44m m m
EBIT -6.02m m m
Dividend Yield % % %
Dividend Cover x x x
PER -6.41x -5.57x -4.98x
PEG f f f
Net Asset Value PS 23.00p p p

Here is an RNS from a couple of days ago - Forestry Commission Joins ITM Power's On Site Hydrogen Trials

Interesting Skinny..cheers.

Intresting and bullish post from PRO TAer Zak Mir across the road.....


Lovely basing chart forming here at ITM......



Post Extras:

Zak Mir



Reged: 28/06/07
Posts: 1362
Re: CHART ATTACK - Longs and Shorts]
#468137 - 29/07/10 03:54 PM Edit Reply Quote



yes, above 50 day ma at 30p ITM should hit 45p - top of a Jan 2010 price channel

When are next results?

Today ! Final Results.

A few Directors have bought 5k's worth of shares.

goldfinger. post 186.

Ref. chart , I believe it's called a "saucering bottom",very bullish sign.

Broker BUY note out.....

ITM Power PLC

FORECASTS 2011 2012
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Panmure Gordon
05-10-10 BUY -6.18 -5.55 -6.35 -5.71

I see there's a small tie-up been announced with Scottish & Southern Energy.

ITM POWER ITM

One to watch for a breakout.

Been some interesting a bullish fundies in the past week.

ITM Power PLC

FORECASTS 2011 2012
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Panmure Gordon
07-10-10 BUY -6.18 -5.55 -6.35 -5.71

"Times" 9 October

The regular "Tiddler to Watch" article says "Savvy investors are taking a hard look at ITM Power....... and they seem to have liked what they have heard. Sharp rises on Monday & Wednesday were followed yesterday by a steady 2p improvement to 42p

Id now like to show the long term TA target and very pleasing to the eye it is and exceedingly bullish...................

Interesting article.......

.http://www.bloomberg.com/news/2010-10-11/scottish-wind-may-gain-in-overdue-review-of-u-k-costs-energy-markets.html

Visit of former Transport Mininster.

Steven Norris, former Transport Minister, Director General of the Road Haulage Association and co-author of the Conservative Quality of Life Commission, accompanied Professor Roger Putnam, Chairman of ITM Power and a former Chairman of Ford UK, to visit Sheffield's ITM Power to see for himself Britain's advanced hydrogen technology for decarbonising transport.

Excelent and stock moving up.

Achievement of Euro VI Emissiion Standard

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that the HICE (Hydrogen Internal Combustion Engine) vans developed in collaboration with Revolve Technologies have recently achieved Euro VI spark ignition emissions levels.

Going to blow when CE mark approval granted, so don't miss the boat here, its a no brainer for me DYOR

Scottish Police Services Authority Joins HOST

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that the Scottish Police Services Authority ("SPSA") has signed an agreement to participate in the Hydrogen On Site Trials ("HOST") of ITM Power's transportable high pressure refuelling unit ("HFuel"). The HFuel unit was built with support from the Technology Strategy Board (TSB) and launched at the Company's AGM on 15th September 2010.

Broker note out........

14-Oct-10 ITM Power ITM Panmure Gordon Buy 44.00p 55.00p - Reiteration

55p SP target.

Center Parcs Joins ITM Power's Hydrogen On Site Trials

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that Center Parcs has signed an agreement to participate in the Hydrogen On Site Trials (HOST) of ITM Power's transportable high pressure refueling unit (HFuel). The HFuel unit was built with support from the Technology Strategy Board (TSB) and was launched at the Company's AGM on 15 September 2010.

Southampton City Council Joins ITM Power's Hydrogen On Site Trials

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that Southampton City Council has signed an agreement to participate in the Hydrogen On Site Trials (HOST) of ITM Power's transportable high pressure refueling unit (HFuel), becoming the third English local authority to join the trials. The HFuel unit was built with support from the Technology Strategy Board (TSB) and launched at the Company's AGM on 15th September 2010.

Southampton is often referred to as the "Home of the Transit" as commercial Transit vehicles are manufactured nearby at Ford's plant at Swaythling. Southampton City Council has an environmental strategy targeting air quality improvements from transport and increasing the use of renewable energy. The Council's Carbon Reduction policy includes a target to reduce CO2emissions by 40% by 2020. In 2009/10 alone an impressive reduction of 7.5% was achieved, including 400 tonnes through an LED traffic light replacement programme.

Building Research Establishment Signs MoU with ITM Power


ITM Power, the energy storage and clean fuel company, is pleased to announce that it has signed a Memorandum of Understanding with the Building Research Establishment ("BRE") to progress it's development of hydrogen technology for the built environment.

Work will focus on renewable hydrogen energy systems for low energy homes. Residential energy demands (for power, heat and cooking) will be met by combining renewable power, electrolysis, energy storage and hydrogen utilisation technologies. By integrating the design of hydrogen energy systems into the building design process, ITM Power and BRE will identify built environment solutions that are truly green. It is expected that zero carbon footprint home designs and a demonstration home will result from the collaboration.

As AFC have shot up (and down)...I don't see why it should not the turn for other fuel cell firms to see their sp rise...this could be the next spike up right here...

Heading for an AFC style increase here ?...fuel cells coming back into vogue ?....

High Power Density Fuel Cells


ITM Power (AIM: ITM), the energy storage and clean fuel company, and the Carbon Trust, are pleased to announce Carbon Trust grant funding of 108,000 towards the development of the Company's materials for application in automotive fuel cells.

Earls Court 2 London 16/17/18 Nov 2010

ITM is an exhibitor and they have a video presentation on the eco2 transport website

http://www.eco2transport.co.uk/exhibitors/itm-power.html

Tarmac joins ITM Power's hydrogen on site trials
StockMarketWire.com
Tarmac Group is to take part in the hydrogen on site trials of ITM Power's transportable high pressure refueling unit.

The HFuel unit was built with support from the Technology Strategy Board.

ITM Power CEO Graham Cooley said: "We are obviously delighted that Tarmac, the UK's largest quarrying company and a leading supplier of building materials to the construction industry, has joined our HOST programme.

"Their assessment of our energy storage: clean fuel technology, using renewable energy, for decarbonising return to base logistics fleet vehicles, will provide ITM Power with useful data from another vital sector in the global economy."

Commercial Group Joins ITM Power's Hydrogen On Site Trials


ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that the Commercial Group has signed an agreement to participate in the Hydrogen On Site Trials (HOST) of ITM Power's transportable high pressure refueling unit (HFuel). The HFuel unit was built with support from the Technology Strategy Board (TSB) and launched at the Company's AGM on 15th September 2010.

The Commercial Group, is the largest, privately owned office services company in the UK, with 2,500 loyal customers, including some of the top 100 companies in the country. The company has received praise from Jonathon Porritt, Director of Forum for the Future, as being an organisation that "continues to demonstrate that profitability and business growth can be achieved through environmentally sound practices". Commercial Group has been widely commended by the Carbon Trust, Energy Saving Trust, Low Carbon Vehicle Partnership (LowCVP) and Chartered Institute for Logistics and Transport (CILT) for its low carbon operations.

May Gurney Join ITM Power's Hydrogen On Site Trials


ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that May Gurney Integrated Services plc ("May Gurney") have signed an agreement to participate in the Hydrogen On Site Trials (HOST) of ITM Power's transportable high pressure refueling unit (HFuel). The HFuel unit was built with support from the Technology Strategy Board (TSB) and launched at the Company's AGM on 15th September 2010.

Doesn't exactly inspire confidence.

Director/PDMR Shareholding


ITM Power the energy storage and clean fuel company announces that on 18
November 2010, Dr. Simon Bourne, Chief Technology Officer of ITM Power exercised
options to purchase 334,250 Ordinary Shares in ITM Power at a price of 5.71p per
share. The options were granted on 1 December 2003 and were due to expire on 3
December 2010. Immediately following the exercise of the options, Dr. Bourne
sold 47,000 shares at a price of 54p.

Following this purchase and sale, Dr. Bourne has an interest in 326,830 Ordinary
Shares representing 0.03% of the Company's issued share capital.

Enterprise Joins ITM Power's Hydrogen On Site Trials



ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that Enterprise plc has signed an agreement to participate in the Hydrogen On Site Trials (HOST) of ITM Power's transportable high pressure refueling unit (HFuel). The HFuel unit was built with support from the Technology Strategy Board (TSB) and was launched at the Company's AGM on 15th September 2010.


Enterprise is the UK's largest dedicated provider of maintenance and front-line services to the public sector and utility industry. With over 13,000 people working from over 150 locations nationwide, Enterprise delivers over 100 different services to more than 15 million people across the UK, which is 25% of the population. Enterprise operates a fleet of approximately 8,000 vehicles on a return-to-base capacity.

RAC Joins HOST

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to
announce that RAC has signed an agreement to participate in the Hydrogen On Site
Trials ("HOST") of ITM Power's transportable high pressure refuelling unit
("HFuel"). The HFuel unit was built with support from the Technology Strategy
Board (TSB) and launched at the Company's AGM on 15th September 2010.

RAC has around seven million customers and is one of the UK's leading motoring
organisations, providing services for both private and business motorists
including roadside assistance, insurance, vehicle inspections and checks, legal
services and up-to-the-minute traffic and travel information. The RAC Roadside
recovery and patrol fleet numbers some 1,700 vehicles.

Commenting for ITM Power, CEO Graham Cooley said:"Our agreement with RAC for
them to join our HOST trial is a tremendous opportunity for us to demonstrate
the benefits of HFuel and so demystify the proposition for fuelling today's
modified vehicles with green hydrogen, in what could be a significant early
adoption market."

Adrian McCarthy, Head of Technical Services, RAC, added: "As an organisation we
are committed to reducing our operational emissions through our carbon
management programme. We are therefore pleased to join ITM Power's hydrogen
trials next year to enable RAC to appraise both the proposition for a zero
carbon fuel and zero carbon emissions for patrol vehicles. Importantly the
trial will also provide our Roadside recovery and patrols with an invaluable
insight into dealing with hydrogen fuelled vehicles at the roadside."

ITM Power's Hydrogen On Site Trials to Begin at London Stansted Airport



ITM Power (AIM: ITM), the energy storage and clean fuel company, and Stansted Airport today announce the commencement of the Company's Hydrogen On Site Trials (HOST) of ITM Power's transportable high pressure refueling unit (HFuel) and Hydrogen Internal Combustion Engine (HICE) Ford Transit vans at London Stansted Airport on 7 March 2011. The trial at London Stansted marks the launch of HOST and will be followed by trials with the other organizations that have agreed to make their participation public. A full list of these HOST partners is set out below.

well up again, still waiting for CE approval on four products but 18 companies for HOST trials and intrims 20th Jan, just look at that chart.

Isle of Man Government Joins HOST


ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that the Department of Infrastructure of the Isle of Man Government has signed an agreement to participate in the Hydrogen On Site Trials ("HOST") of ITM Power's transportable high pressure refuelling unit ("HFuel"). The HFuel unit was built with support from the Technology Strategy Board (TSB) and launched at the Company's AGM on 15th September 2010.

The Department of Infrastructure is responsible for maintaining and developing much of the Isle of Man's key infrastructure including the highways network, harbour and port facilities, planning and building control and the Island's key Government buildings including the Sea Terminal, Airport, Energy from Waste Plant and Animal Waste Processing Plant. Through its Operations Division, the Department provides a direct labour organisation which carries out essential works to the infrastructure and also maintains a 24 hour a day emergency response capability for the Island.

Half Yearly Report.

HIGHLIGHTS

Operational

Product sales drive starts at 2011 Hannover Messe in April

HPac CE documentation submitted between June and December 2010

HPac CE mark imminent

HPac delivered to the University of Birmingham for trial

HFlame trial with Ametek

First HOST trial to commence 8 March 2011 at Stansted Airport

21 commercial partners joined the HOST trials

Achievement of Euro VI Emissions for the HICE Transit Vans

TSB funded collaboration project with Ford Motor Company

MoU with BRE for the development of a zero carbon home

Record high power density Fuel Cell performance announced

Financial and Corporate

Appointment of Lord Freeman as Non-Executive Director

Grant funding of 536,000 accounted for in the period (2009: 108,000)

Pre-tax loss for the period was 3.0m (2009: 3.4m) and net cash burn of 2.3m (2009: 2.3m)

Cash and Short-Term investments at 31 October 2010 of 14.7m (2009: 19.5m)

ITM Power plc

("ITM Power" or "the Company")


HPac Product Achieves CE Certification

ITM Power, the energy storage and clean fuel company is pleased to announce the achievement of CE certification of its HPac electrolyser product.


A CE mark is a mandatory conformance mark for products placed on the market in the European Economic Area. As such, achievement is an essential element of the Company's commercial drive, enabling commercial sales within the EU and is a significant milestone for the Company. CE conformance certifies that a product has met EU consumer safety, health and environmental requirements. In the case of HPac, CE requires conformance with the Pressure Equipment, EMC and Machinery Directives.


HPac is the largest of the four electrolyser products launched at the Hannover Messe in April 2010. The process of generating evidence of compliance has involved a significant amount of learning for both ITM Power and the Notified Bodies involved. The Company is now equipped with a framework via which future certification endeavours can be prosecuted efficiently.


Dr. Graham Cooley, CEO of ITM Power, commented:"CE certification for HPac is a huge achievement for ITM Power. It has been the focus of a hard drive for the Company and I am delighted that we can evidence conformity. The experience has been tremendously valuable and will enable us to hone future design and certification activities. We look forward to the commercial launch of HPac at the Hannover Messe in April this year."

Shooting up.....one to watch with AFC, IQE and possibly little ZEN.....

TM Power plc

("ITM Power" or "the Company")

High Power Density Fuel Cells Test Update

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce an early technical result from the initial phase of the high power density fuel cell membrane testing, an ambitious technology development project supported with GBP108,000 of research funding from the Carbon Trust.

ITM Power has demonstrated exceptionally high power densities by developing its proprietary hydrocarbon membrane materials for hydrogen/oxygen fuel cells. A step change from the current state of the art has been achieved, with what is believed to be the highest power density ever recorded for a PEM fuel cell (5.5W/cm2 and 10A/cm2) using pure oxygen. ITM Power has now successfully demonstrated the performance of the membrane in a hydrogen/air fuel cell developing over 2.1W/cm2 and 4A/cm2, more than doubling the power density performance presently available on the market.

While the Company's initial investigations focused on hydrogen and oxygen fed fuel cells, a commercial fuel cell system for deployment in a vehicle requires air to be used as the oxidant. This early result with air exceeds the ambitious target of 1.5W/cm2 which was defined as part of the Carbon Trust project and is further evidence of the potential for ITM Power's materials to offer a step change in performance.

The project continues to progress well. ITM Power will disclose further information to the market upon project completion. The summary of the power density performance achieved by ITM's patented membrane technology has been updated today on the Company's website:

http://www.itm-power.com/cmsFiles/investors/CarbonTrust_GrantAward.pdf

Commenting for ITM Power, CEO Graham Cooley said: "I am very pleased with the rate of technical progress. Exceeding our power density target for the fuel cell during the initial phase of the Carbon Trust project shows the huge potential of our materials and the enthusiasm with which we are attacking this development. I look forward to reporting further progress on completion of the project."

Pierre Gaudillat, Technology Commercialisation Manager, the Carbon Trust added: "We are delighted with how the fuel cell project with ITM is progressing. It is clear that ITM's technology has a great deal to offer and we continue to facilitate introductions to potential commercial end users interested in these exciting developments."

UPS(R)Joins ITM Power's Hydrogen On Site Trials

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that UPS (NYSE: UPS) has signed an agreement to participate in the Hydrogen On Site Trials (HOST) of ITM Power's transportable high pressure refuelling unit (HFuel). The HFuel unit was built with support from the Technology Strategy Board (TSB) and was launched at the Company's AGM on 15th September 2010. This portable unit produces hydrogen on-site through water electrolysis, which is then used to fuel ITM's prototype HFuel vehicles.

UPS is the world's largest package delivery company, a global leader in logistics services, and one of the world's most recognized brands, operating in over 220 countries and territories. UPS has more than 100 000 delivery vehicles worldwide, including the largest private alternative fuel fleet in the transportation industry, with close to 2 000 vehicles. UPS runs what it calls a "rolling laboratory" - as well as enjoying the benefits of alternative-fuel propulsion today, the UPS fleet provides valuable data on the viability of different fuel technologies in real-world situations.

Commenting for ITM Power, CEO Graham Cooley said: "The return to base light commercial fleet sector is a key sector for the early uptake of alternative automotive fuels and the addition of UPS to the HOST trials will give us exactly the data and feedback that will make HOST a success. The announcement of UPS as a trial partner now completes phase one of HOST."

Peter Thomas, Automotive Director, UPS UK and Ireland, said: "We are always seeking to improve our performance and reduce our impact on the environment. Taking part in this project is a logical step in our broader "rolling laboratory" approach to alternative fuel technology, and underlines our commitment to providing efficient and sustainable transportation services for our customers."

Really starting to perform, ...the sp here...the year of the fuel cell companies perhaps ?...with oil rising...the barrier for commercialisation drops....

Appointment of Agent in Germany


The agent is Phil Doran, who has been based in Frankfurt for 20 years and is a partner in Core Technology Ventures. He was a founding member of the European Hydrogen and Fuel Cell Trade Association and has had a three year involvement in the EU-funded Roads2HyCom project, which mapped Europe's technical capabilities. From 1993 to 2002 Phil was Head of Hydrogen & Fuel Cells Research and Senior Equity Sales at UBS Warburg AG (Frankfurt). ITM Power considers the German market to be the key early adoption market for hydrogen technology in Europe, both for electrolysers and fuel cells.

RNS Number : 2324C

ITM Power PLC

03 March 2011

3(rd) March 2011

ITM Power Plc

("ITM Power" or the "Company")

HFUEL ROAD COMPLIANCE ACHIEVED

Satisfied the Requirements of the Department for Transport for Road Use

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that its HFuel transportable hydrogen refueling product has satisfied the requirements of the UK's Department for Transport for road use.

In preparation for the HOST (Hydrogen On Site Trials) launch, ITM Power has undertaken a thorough assessment of system safety and required approvals. This has generated a suite of documentation to evidence the legal transportation of HFuel on UK public roads with a full inventory of hydrogen and to satisfy local fire and Health & Safety authorities. This has been a significant undertaking and achievement, which demonstrates ITM Power's thorough understanding of the relevant legislative framework and approval requirements.

As part of the assessment, the Company has created a documentary resource covering the elements required by the Dangerous Goods Division of the Department for Transport. This has involved independent pressure testing to 1.5 times working pressure, assessment by an independent ADR Notified Body and interaction with specialist chemical plant consultants.

Similarly, Revolve Technologies has subjected the HICE (hydrogen internal combustion engine) Transit vans to the appropriate level of assessment. This has included independent leak testing of on board pressure systems, crash test simulation and the implementation of a dynamic leak detection strategy. This has resulted in the vehicles being granted a Vehicle Special Order Type Approval by the Department for Transport to enable them to be used on the road whilst transporting goods for trials and demonstration purposes.

The HOST launch event on 8(th) March will comprise both HFuel and two HICE Transit vans.

more buyers than sellers yet drops to 60p !
cant find any news out there, but summats going on....

interesting move down on share price, hope all is well with the trials this week....

interesting move down on share price, hope all is well with the trials this week....

interesting move down on share price, hope all is well with the trials this week....

now thats not looking very likely mrfrazee !

as you said there is no news flow out so hard to tell whats going on...maybe a buying oportunity

it's 50p now... time to BUY.

and why is that hlyeo98 ?
does look like the dreaded 'head & shoulders' forming if you follow the charts - which will probably mean there's more downside to come.
i was a long term holder - managed to get out a few weeks ago before this turmoil, but i am anxious to get back in. i'm just a little suspicious about the price movement over these past few weeks, and as i said before, summats up.

45.25-46.25 now

You could be right, zephod... where do you think it will drop to?

IF - as I suspect, there is a problem with 'HOST' trials then I wouldnt rule out a further decline to 40p.ish, but wtfdik ! dyor.
I am keen to get back in - love the company & its objectives, but think it could be very choppy for a while.

Whilst many "alternative energy" companies have been heavily marked down in the current market, these have been consistently marked down since the 8th (HOST launch event). currently -12%.

interesting though as there doesnt appear to be any news flow of problems?

hope they didnt use a white van driver in the transit test vehicle and crashed it??

price beginning to look better now...

Tried to grab a few at 50 this am but too late - now look at em....
may yet get another chance

ITM out of favour lately... 42p

38p now

wonder what has caused this crash... no news flow? all seemed so promising as well

KEEP AN EYE

25.375p ( 24.50 / 26.25p )

After a large retracement today there is buying and looking into the UP movement. A stronger order book on the bid side

Volume and rising one to get in the Portfolio

At 30.625p +6.375p

is going places now as the MMs keep moving higher as there is no private investors trades at offer side

a very strong DEPTH on the bid side 277K v 77K

18 July 2011

ITM Power plc

("ITM Power" or the "Company")

Carillion plc Purchases HOST Trial

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that Carillion plc has entered into a one week paid-for Hydrogen On Site Trial (HOST) of ITM Power's transportable high pressure refueling unit (HFuel). The HFuel unit was built with support from the Technology Strategy Board (TSB) and was launched at the Company's AGM on 15(th) September 2010.

Carillion plc is one of the UK's leading support services companies, employing around 50,000 people, and has annual revenue of over GBP5bn. Carillion has operations across the UK, in Canada and the Middle East.

Commenting for ITM Power, CEO Graham Cooley said: "We are delighted that Carillion plc will be joining our HOST trials and has made the commitment to enter into a paid-for trial in July for us to fit in to our busy schedule of trials. This is a real opportunity for ITM Power to show the benefits of HFuel for producing a clean fuel which demonstrates hydrogen cost 'parity with petrol' and contributes to decarbonising transport, improving air quality and eliminating carbon from the fuel supply chain."

Doug Randell, Operations Manager for Carillion Fleet & Plant services, added: "At Carillion we want to offer serious low carbon transport solutions for our clients that also enable Carillion to meet its long term goals for sustainability. We view ITM Power's HFuel technology as playing a potentially important role, and look forward to the commencement of the trial later this month."

Final Results.

HIGHLIGHTS:



Products

Achievement of CE marking for the HPac, HFlame and HBox products

First product sale and field trial of HPac with the University of Birmingham

First HFlame field trial with Ametek Airtechnology Group Ltd

First sale of an HFuel production module to the University of Glamorgan

Post-period orders of 0.43m, to date, well ahead of expectations




HOST

Achievement of HFuel compliance with the Department for Transport

Achievement of Euro VI Emissions for the HICE Transit Vans used in the HOST programme

Commencement of HOST programme with 21 commercial partners

First four trials with London Stansted, DHL, AMEY and Volker Highways now completed

HFuel product achieved 100% availability and an average efficiency of 64%

HOST demonstrated that HFuel can be operated on-site and achieve 'parity with petrol' in the UK




Financials

Net cash-burn 4.8m (4.9m 2010)

Cash at 30 April 2011 12.2m (16.9m 2010)

1.09m of income from funding bodies booked in the period, of which 0.41m related to property, plant and equipment

Grants from Technology Strategy Board and Carbon Trust

A further 0.82m in grant funding has been secured




Technology Development

Achievement of the highest recorded power density for a PEM fuel cell MEA, in excess of 5.5 W/cm2 using oxygen and in excess of 2.1 W/cm2 using air

HydroGen platinum-free Alkaline Electrolyte PEM electrolyser technology has now been scaled up and incorporated into an HPac system and is showing good early performance




Corporate

Appointment of Company agent in Germany, the key early market for hydrogen technologies

Established ITM-Power GmbH, a wholly-owned subsidiary in July 2011

Appointment of The Rt. Hon. Lord Freeman PC as Non-Executive Director




Outlook

Outlook positive with early revenue streams developing

Adoption of hydrogen in many applications accelerating

Product orders of 0.43m in the three months since the year end

Good progress in developing commercial relationships in Germany







Prof Roger Putnam, Chairman of ITM Power commented:

"I am pleased to be reporting further significant progress made by the Company in the second half of the year. The list of highlights does not fully reflect the huge effort made by the management team and staff during the past 12 months. The technical and scientific achievements made this year are a clear demonstration of the skills and knowledge of the team. Our first products were very well received at the Hannover Messe in April when the Company received a great deal of industry attention. We are now building the resulting commercial relationships."

Not a very positive outlook... cash burn is as much as before and product order is meagre... Sell!

In auction +10%

And again +23.3%

Amazing - in auction again - there have only been @75k of shares traded!

High Power Density Fuel Cell Results

ITM Power (AIM: ITM), the energy storage and clean fuel company,is pleased to announce the outcome of a recently completed nine month fuel cell project. The project focused on ITM Power's proprietary hydrocarbon membrane materials and their evaluation in high power density hydrogen/air fuel cells and was supported by the Carbon Trust as part of the Polymer Fuel Cells Challenge. The project objectives, which were defined by automotive industry experts, were all achieved.

ITM Power is now engaging with automotive OEMs and key organisations in the fuel cell supply chain to undertake early stage qualification of its membrane materials as part of the Company's Partner Evaluation Programme. The next phase of the process will involve accelerated acquisition of test data while undertaking full life cycle cost analysis via the Carbon Trust's cost model.

Increasing power density is widely accepted as the single most important factor in reducing the cost of fuel cells. ITM Power's materials have shown the ability to generate unprecedented power density when using either oxygen (>5.5W/cm2) or air (>2.1W/cm2). This project consolidated this capability by examining the impact of operating in environments and conditions required by the automotive industry. This included sensitivity to reduced catalyst loading, gas pressure, humidity, temperature and stoichiometry. In addition, longevity studies were initiated and benchmarking was carried out against industry standard materials.

The project was undertaken at a single test cell level and sought to reduce the technical risk presented by ITM Power's materials as a new component.

TM Power PLC

11 October 2011

11 October 2011

ITM Power plc

("ITM Power" or the "Company")

Memorandum of Understanding with Dutch Fuel Cell consortium

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce its cooperation with Dutch Fuel Cell consortium (DFC) for the development of hydrogen energy systems projects for clean fuel and energy storage applications.

DFC has developed an extensive network of technology and marketing partners in the Benelux countries and is engaged in the development, implementation and exploitation of energy systems based on fuel cells and alternative energy technologies. By bringing together consortiums of experienced partners, DFC has become a National leader in the deployment of renewable generation and the introduction of zero-emission transportation in cities using highly innovative, but proven technology.

Current projects include:

-- city buses and hydrogen refuelling stations

-- renewable energy supply of mobile telecom base stations

-- energy storage for renewable energy sites

ITM Power will provide hydrogen generation, storage and dispensing technology through its HFuel technology platform and hydrogen energy system expertise for integrating electrolysers and fuel cells.

Commenting for ITM Power, Graham Cooley, CEO, said: "Partnering with DFC for the development of hydrogen energy projects is a very exciting step for ITM Power; renewable energy policies are well developed in the Benelux countries and the deployment of hydrogen as a clean fuel is gaining momentum."

Commenting for DFC, Theo Hendriks, Managing Director, said: We have been impressed with the HOST trials developed by ITM Power in the UK and with the HFuel refuelling station technology. Partnering with ITM Power provides the opportunity to introduce their technology to the rapidly expanding alternative energy market in the Benelux countries."

ITM is attending Intelec 2011International Telecommunications Energy Conference in Amsterdam on the 9(th) to the 13(th) October 2011 and ITM Chief Technology Officer, Dr. Simon Bourne will be presenting at the conference. DFC will be present at the ITM stand on Wednesday the 12(th) October 2011.

Every news story seems to be a good news story from ITM. The sp really should be further north than it currently is.

RNS Number : 6734R

ITM Power PLC

08 November 2011

Embargoed until 7:00 a.m. 8(th) November 2011

ITM Power plc

("ITM Power" or "the Company")

Isle of Wight EcoIsland Partnership Agreement

Island Smart Grid Hydrogen Energy Storage Project

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce a partnership agreement with a consortium called EcoIsland, the largest single sustainability project in the UK. The partners in EcoIsland are Ibm, Toshiba, Scottish and Southern Energy (SSE), Southern Water, Cable & Wireless and ITM Power. The Company will provide hydrogen energy storage and clean fuel technologies for integration into the renewable energy smart grid system being developed on the Isle of Wight.

The EcoIsland project brings together within a single island energy system a critical mass of smart energy technologies to demonstrate how a future energy system can be configured. With renewable generation including wind, solar, tidal and geothermal the island will need to match supply and demand using battery energy storage, hydrogen energy storage and demand side management. These technologies will be coordinated centrally by smart grid technologies supplied by IBM, Cable & Wireless, SSE and Toshiba.

ITM Power is the hydrogen fuel partner and will supply hydrogen refueling equipment controlled by smart grid technology to optimize both renewable energy storage and the provision of fuel to both fuel cell vehicles and Hydrogen Internal Combustion Engine commercial vehicles. The intention is that the island will also be a showcase for advanced low emission hydrogen vehicles being launched from 2013.

Up to four refueling systems are planned for the first phase of deployment on the island demonstrating the scale-ability of the technology and rapid response demand side reserve.

The project will also present an opportunity for the Company to showcase its unique domestic scale products - HBox Solar and HFill which respectively offer hydrogen generation directly from solar PV (even in situations where there is no electricity grid) and home hydrogen refueling.

EcoIsland founder, David Green commented: "The collection of technologies that we are bringing together on EcoIsland will provide the total energy solution for tomorrow's world. Hydrogen and ITM Power's technology will be integral to proving that renewable energy can be utilized effectively despite being intermittent. Using wind energy to decarbonise the transport system on the island is a fantastic prospect.

ITM Power CEO, Graham Cooley, commented: "Joined up thinking in the energy sector is rare and EcoIsland is a world class project on our doorstep with exactly that. At ITM Power we are convinced that hydrogen is the solution to renewable power intermittency and decarbonising road transport so where better to prove hydrogen energy storage than on the EcoIsland."

Alkaline Electrolyser Results

Just above the 40p level - currently up 15.9%.

'HFuel Here' UK launch at All-Energy 2012

RNS Number : 8620R

ITM Power PLC

10 November 2011

10 November 2012 10:30 a.m.

ITM Power plc

("ITM Power" or "the Company")

'HFuel Here' UK launch at All-Energy 2012

ITM Power becomes the All-Energy Hydrogen Fuel Partner

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the launch of 'HFuel Here' at the All-Energy 2012 exhibition and conference (Aberdeen, 23- 24 May 2012) which is the UK's largest renewables event.

HFuel Here is a scheme which offers event organisers an on-site hydrogen generation and refueling facility. This is essential in promoting fuel cell vehicles at international events, where availability has previously been scarce.

The presence of HFuel Here at events encourages vehicle OEMs to showcase their fuel cell vehicles by enabling 'Ride and Drive' sessions. This, will also demonstrate the readiness of a sustainable hydrogen refueling infrastructure that offers zero carbon emissions in both fuel generation and use. This activity will extend ITM's experience of refueling multiple vehicle types and provide opportunities to show how HFuel generates fuel onsite from electricity and water.

On-site generation of green hydrogen is becoming an important driver for many automotive manufacturers, as it reduces the carbon footprint of vehicle use and removes the logistics otherwise required to transport fuel to the point of refueling.

Joint demonstrations of HFuel and fuel cell electric vehicles (FCEVs) provide an ideal platform to raise public awareness of green hydrogen fuel and the next generation of vehicles, ahead of the planned commercial roll-out from 2014 onwards.

In exchange for providing HFuel at the event, ITM Power will receive significant commercial benefits including a high profile presence at the show and prominent exhibition positions for the refueling facility and the Company's other CE marked products.

All-Energy Event Manager, Jamie Thompson commented: "We are all very excited about the HFuel Here partnership with ITM Power as it has allowed us to further engage with vehicle manufacturers who wish to attend the show. It is an additional benefit which we can offer participants interested in the future of transport not only to see hydrogen and fuel cell vehicles, but to drive them too. All-Energy is already shaping up to be the largest ever event in the series, and this certainly forms the basis of what will be an extremely interesting and relevant feature area of the exhibition, which will also provide an interesting basis for conference presentations."

ITM Power CEO, Graham Cooley, commented: "The HOST trials have been very successful in promoting and demystifying hydrogen refueling in the commercial sector and the formation of significant consortia. HFuel Here will do the same thing on a grander scale for exhibition attendees. The engagement that HFuel Here will create with the vehicle manufacturers is also of high commercial significance to ITM Power."

In auction.

HFuel Cost Structure

Key HFuel information:

The HFuel product is modular in size from 5kg/day to 100kg/day unit size, which can be stacked together.

The HOST experience has shown an electricity cost of 6.5p/kWh provides the same cost per mile as diesel in an internal combustion engine vehicle, based on input electricity costs. Moving to a fuel cell platform would improve the economics very significantly.

The European cost target for hydrogen generation starts at 16.60/kg in 2010, reducing to 9.90/kg in 2015 and 5.50/kg in 2025.

A 100kg/day HFuel generation system with a 5 year amortisation and 4p/kWh electricity price produces hydrogen at a cost of 8.31/kg, which is lower than the European target for 2015.

After the 5 year amortization period, the hydrogen cost from the same system is 2.40/kg, which is lower than the European target for 2025.

German Market Update.

ITM Power (AIM: ITM), the energy storage and clean fuel company, notes the following with respect to developments in Germany.

At the National Innovation Programme (NIP) AGM held in Berlin last week, the organisation charged with managing the federal Government's 700m contribution to its total budget of 1.4bn, the National Organisation for Hydrogen and Fuel Cell Technologies (NOW), noted, that so far, it has issued subsidies of approximately 393m to support the development of the technology. Some 216m, or 55% of the total, has been spent on transport, which includes hydrogen production and infrastructure. Indeed, in its latest review, released last week, the NOW has increased the profile of 'Hydrogen Production and Delivery' to an independent category. This follows the launch in May of this year of a separate and additional Federal funding initiative of 200m exclusively for energy storage, which in turn followed the Government's decision to abandon nuclear power. This decision has promoted green hydrogen to the top of the agenda, as a necessary adjunct to the expanding renewable share of electricity generation.

In its German press release (http://www.now-gmbh.de/de/presse/2011/nip-vollversammlung.html) issued on 7 November, the NIP commented "Climate policy goals can only be achieved if efficient drive systems and emission-free fuel is deployed in the transport sector, and highly energy efficient equipment is used in the stationary sector. In order to generate major cost and efficiency savings, current mobility and energy-supply solutions will in future be supplemented with products based on hydrogen and fuel cell technology."

Dr. Klaus Bonhoff, NOW's MD noted that: "Hydrogen and fuel cell technologies are gaining momentum. This is due not least to the central role attributed to storing energy generated from renewable sources in the form of hydrogen. In the future, hydrogen will be one of a number of emission-free transport fuels, given the fact that the step by step reconstruction of the transport sector has already begun. Fuel cells will not only be used in combination with hydrogen in the transport sector, but in the coming years, together with natural gas, fuel cells will also provide a highly efficient solution for the stationary sector. Even, in niche markets such as the protection of critical infrastructure, for example, in telecommunications, fuel cells as off-grid systems are becoming ever more attractive."

It is worth noting that the Federal subsidies mentioned above, totaling some 900m, which will be matched by industry, do not include the substantial financial support offered at the state level, not only in halting the deindustrialisation of the former East German states, but also in industrialised states of the former West Germany in an attempt to ensure they have a role to play in the emerging German and European renewable economy.

Phil Doran, Managing Director of ITM Power GmbH commented: "While Germany has more than proved its metal in the field of clean technology developments, which has earned it global recognition, the decision to abandon nuclear power has given added impetus to the renewable cause in general and green hydrogen and fuel cells in particular. It is difficult to convey the seriousness with which Germany is pursuing its goals, in the full knowledge that it is creating a set of industries which will ensure its manufacturing status and export capacity is maintained well into the 21st century".

ITM Power handed top environmental accolade

TM Power has won the EEF North East Region Climate Change Opportunity Award, sponsored by ENER-G.

The Sheffield-based business specialises in clean fuel hydrogen generation and energy storage and won the award after developing a transportable hydrogen refuelling unit called HFuel which can be used as a zero carbon fuel for modified internal combustion engines and fuel cell vehicles.

The companys Hydrogen On Site Trials (HOST) programme resulted in 22 companies including Stansted Airport, Sheffield CC, Carillion plc, and Tarmac signing up to demonstrate the benefits of HFuel. The company now receives enquiries from around the world.

So when is all the good news going to turn into huge profits and massive shareholder returns??!!

Participation in UKH2Mobility Initiative

RNS Number : 8849V

Itm Power PLC

20 January 2012

20 January 2012

ITM Power plc

("ITM Power")

Pilot Agreement with Marks and Spencer Group plc ("M&S")

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed a pilot agreement with M&S (LSE: MKS) to deliver the UK's first hydrogen fuel cell, materials handling equipment trial using on site hydrogen generation.

Using the ITM Power HFuel platform to generate hydrogen, the six week trial involves M&S using several fuel cell vehicles as a direct substitute for part of the existing battery powered fleet. The vehicles will be deployed at M&S's 1.1million sq. ft. Prologis Park Distribution Centre.

The trial forms part of the M&S Plan A initiative and aims to deliver zero emission vehicles with superior performance and a two minute refuel time. The trial is the first of its kind in the UK and demonstrates the cutting edge vision of M&S and ITM Power.

The global materials handling market, valued at US$20 billion, is seen as a key early adoption market for hydrogen with fuel cells already being able to offer superior performance to battery powered systems.

Graham Cooley, CEO of ITM Power commented:"The involvement of companies such as M&S is essential to developing commercially viable hydrogen solutions for the materials handling industry. We are extremely pleased to be conducting this trial with M&S who continue to lead the way for sustainable technology deployment."

Darrell Stein, Director of IT and Logistics for M&S commented:"We are excited to be trialing this solution with a company like ITM Power, and with a technology which has the potential to drive significant carbon reductions from our warehouse operations. If we're to achieve our ambitious goal of becoming the world's most sustainable major retailer then we must continue to innovate and push the boundaries in every part of our business".

Half-Year Results.

HIGHLIGHTS:

Operational

● Achievement of CE marking for HFuel product platform and HPac40
● Sale of HOST trial to Carillion plc
● HFuel cost structure announced showing competitiveness with all other sources of hydrogen and lower than EU targets for 2015
● HOST demonstrated that HFuel can be operated on-site and achieve 'parity with petrol' in the UK
● Current product order book stands at £0.54m
● Participation in EcoIsland project with IBM, Toshiba, Cable & Wireless, SSE, Southern Water
● Nine patents granted and an additional seven patent applications filed
● Dutch Fuel Cell Consortium MoU signed for the Benelux countries
● Achievement of 2.1W/cm2 from ITM membrane materials in H2/Air fuel cells
● Early results from OEM fuel cell evaluations have been encouraging
● Participation in UK H2Mobility with the UK government, Daimler, GM, Hyundai-Kia, Nissan, Tata Motors, Toyota, Air Liquide, Air Products, BOC/Linde, SSE, Intelligent Energy, Johnson Matthey
● Pilot agreement with M&S to deliver the UK's first hydrogen fuel cell, materials handling trial using on site hydrogen generation on a commercial basis

Financials and Corporate

● Grant funding of £269,000 recognised in the period (2010: £335,000)
● New grant project awards of £942,000 (2010: £453,000)
● First major EU grant of £460,000 awarded for SafeFlame, a further £1.5m in negotiation
● Pre-tax loss for the period of £3.5m (2010: £3.1m) and net cash burn of £3.2m (2010 £2.2m)
● Cash and short-term deposits at 31 October 2011 £9.0m (30 April 2011: £12.2m)

Outlook

● Outlook positive with early revenue streams developing
● Adoption of hydrogen in many applications accelerating
● "HFuel Here" to be launched in May 2012 at All-Energy conference in Aberdeen
● Grant funded project consortia are developing productive relationships

Prof Roger Putnam, Chairman of ITM Power commented:
"The UK H2Mobility initiative represents a very significant step forward for the UK in the adoption of hydrogen for transport. This, coupled with the EcoIsland project, places ITM Power at the heart of the emergence of this exciting new fuel industry.

"Building relationships has been a major focus for ITM Power over the last six months and the achievement of our first major EU grant is a sign of relationship development that will, we hope, result in significant commercial traction in 2012."

RNS Number : 8232W

Itm Power PLC

06 February 2012

6 February 2012

ITM Power plc

("ITM Power" or the "Company")

Megawatt (MW) Scale Energy Storage Plant

ITM Power (AIM: ITM),the energy storage and clean fuel company, is pleased to announce that it will be launching its new high pressure and high volume stack designs that form the basis of its Megawatt Scale energy storage plant at the Hannover Messe on 23-27th April and All-Energy in Aberdeen on 23-24th May .

The hydrogen production plant is packaged in a single 20ft standard ISO container and is a 1MW load that can be demand side managed by power companies with a response time of one second for both turn on and turn off. The hydrogen produced can be used for both vehicle refuelling and direct injection of hydrogen into the gas grid. Injecting hydrogen into the gas grid is a simple and pragmatic form of energy storage that also de-carbonises the gas grid.

The new electrolyser stack is self-pressurising to 80bar which means it can be used to inject hydrogen directly into the high or low pressure gas grid without the need for additional compression plant. If the hydrogen production unit is used for vehicle refuelling, the amount of energy required for compression is reduced. If 350bar refuelling is being used then the high pressure electrolysis removes the need for one stage of mechanical compression which reduces cost.

The 1MW container produces approximately 400kg/day of hydrogen if run continuously. The design is a modular system which can be used to build larger energy storage facilities. ITM Power now has a portfolio of modular refuelling products in the range from 5kg/day to 400kg/day.

Commenting for ITM Power Dr Graham Cooley said "Megawatt scale energy storage is now a vital plant component in the power industry to balance supply and demand and this product is ITM's first offering to the sector. In most countries in Europe and indeed the rest of the world the penetration of intermittent renewable power has reached the level where constraint payments are now standard and wind curtailment is in daily operation. The need for Megawatt scale energy storage is here today and hydrogen via electrolysis is easily deployed at this scale."

Trying 50p again.

Equipment Development and Lease Agreement with Boeing

ITM Power (AIM:ITM), the energy storage and clean fuel company, announces that it has signed an Equipment Development and Lease Agreement with Boeing Research & Technology Europe S.L.U. ("Boeing") for the development, assembly and field trials of a 1Nm3/hr (2.1kg/day) PEM electrolyser. The containerised electrolysis equipment will form part of Boeing's current off-grid refuelling station for Unmanned Aircraft Systems ("UAS").

During the last few years the Unmanned Aircraft Systems (UAS) industry/sector has seen sustained growth, mainly through the development and maturing of military applications and followed by wide recognition of their possibilities in civilian applications which include: border control, coastguard, law enforcement, pipeline and powerline monitoring, earth and environmental observations, communications and many more. These systems can potentially offer lower cost and investment risk as well as low infrastructure requirements for tactical intelligence, surveillance and reconnaissance (ISAR).

ITM Power CEO, Dr. Graham Cooley, commented:"ITM Power has had a dialogue with Boeing Research & Technology -Europe for several years and actually completed some of the early ground work that led to the inception of the off-grid solar-based refuelling station for UAS that Boeing Research & Technology Europe is developing in Spain. I am delighted that Boeing Research & Technology Europe has now returned to ITM Power to complete the project with our PEM electrolyser technology and I look forward to taking our relationship further".

Francisco Escartí, Managing Director, of Boeing Research & Technology Europe, commented: "We are very excited to test ITM Power´s PEM electrolyzer technology in our off-grid solar-based refueling station for UAS".

Trending up again, with reasonable volume.

broken thru that 50p level with ease,
cant see any news, so maybe the market is beginning to realise this is
the future, especially with current prices on petrol and diesel soaring.
if we (the uk that is) spent as much on hydrogen technology as we
do on exploration for oil, we'd be a lot further on in our search for
our energy needs for the future....... not just for cars/vans/buses/lorries,
but why not hydrogen power stations....
and in case you hadn't guessed, yup, i'm a long term holder in this great
little company !
usual caveats apply

Much more promising news here...revenues will start to flow in at last....

Hmmm - in auction +7.1%

On a bad day...doing well....much more to come with a good revenue coming in now...

Possible very large order coming from Boeing.....this might be "liftoff" time for the sp !...

Source ?

See latest rns......I'm guessing but this does look very, very promising at long last ....

Sorry rf - I posted the link - must be losing it! Chart wise, things are looking up.

RNS Number : 5323A

Itm Power PLC

02 April 2012

2 April 2012

ITM Power plc

("ITM Power" or the "Company")

Hyundai joins HFuel Here at All-Energy 2012

ITM Power (AIM:ITM), the energy storage and clean fuel company, announces that, Hyundai will use its HFuel on-site hydrogen refueling station at the All-Energy Exhibition and Conference in May to refuel its Fuel Cell SUV.

HFuel will be available at the All-Energy Exhibition and Conference to refuel fuel cell or hydrogen fuelled vehicles and Hyundai is the first automotive OEM to commit to demonstrating its fuel cell vehicle at All-Energy2012.

Hyundai Managing Director, Tae Won Lim Ph.D., commented: "The Hyundai brand is growing globally both in terms of vehicle sales and our manufacturing footprint. Our corporate slogan is "New Thinking. New Possibilities. New ideas create new values" and the fuel cell vehicle is the reality of our corporate objectives. To have the ability to refuel our vehicle at All-Energy 2012 with hydrogen that is actually generated on site is fantastic."

ITM Power CEO, Dr. Graham Cooley, commented: "Our HFuel product is now very well tested in the field, refuelling vans, cars and materials handling vehicles. To be able to provide this service to one of the world's leading and fastest growing automotive OEM's is a further step forward in our development."

TSB Grant Award - Gas Injection Feasibility Study

TM Power (AIM: ITM), the energy storage and clean fuel company, has been awarded a grant under the Technology Strategy Board's Smart Power Distribution and Demand competition. The project is due to commence in July 2012 and has a duration of 12 months.

The UK quotient of renewable energy generation is due to increase by a factor of five over the next decade and this will dramatically increase the unpredictability of supply. Coupled with existing curtailment traffic and distribution network bottlenecks, this presents a significant technical and financial challenge. The ITM Power lead project aims to investigate the technical, financial and operational feasibility of injecting hydrogen gas, generated from electrolysis fed from excess renewables, into the UK gas networks.

ITM Power is collaborating in a partnership which includes the Scottish Hydrogen Fuel Cell Association ("SHFCA"), and Gastec at CRE ("Gastec") on the £164k feasibility study. The project includes preliminary logistical research, system research, creation of a generation model and the simulation of hydrogen production at a single wind farm.

HBox Solar Achieves CE Compliance

ITM Power (AIM:ITM), the energy storage and clean fuel company, is pleased to announce the achievement of full CE certification for its HBox Solar electrolyser product.

A CE mark is a mandatory conformance mark for products placed on the market in the European Economic Area. CE conformance certifies that a product has met EU consumer safety, health and environmental requirements. In the case of HBox Solar, CE requires conformance with the Pressure Equipment, EMC, Machinery and Atex Directives.

Approval to Operate and Sell HFuel in Germany

TM Power (AIM:ITM), the energy storage and clean fuel company, is pleased to announce that its HFuel product has received regulatory approval for the German market.

HFuel has undergone a rigorous assessment and inspection by TÜV SÜD in both the UK and Germany, including an audit of safety documentation and compliance with relevant European Directives and the strict German Merkblaat standard. TÜV SÜD has issued its Expert Report enabling ITM Power to gain approval to operate and sell its HFuel refueling platform in Germany.

ITM Power will be operating HFuel in the Ride and Drive area of the Hannover Messe this week.

Dr. Graham Cooley, CEO of ITM Power, commented: "To be able to operate HFuel in Germany is a key step for the Company in commercialising its technology in the leading market for hydrogen infrastructure globally. Successful completion of this rigorous process is a credit to the team and demonstrates the ability of ITM Power to execute refueling projects in Germany."

Always good news, and holding up well today in a sea of red.

Partnership with Hardstaff to Address HGV Market

ITM Power (AIM: ITM), the clean fuel and energy storage company, and The Hardstaff Group, the transport industry innovations company, announce that they have signed a Memorandum of Understanding to develop and market a Hydrogen Compressed Natural Gas ("HCNG") fuel system for Heavy Goods Vehicles ("HGVs").

The Hardstaff Group specialises in providing innovative solutions for service/product enhancements and environmental protection, and in particular, in the use of natural gas and biomethane in HGVs. The Hardstaff Group of companies consists of; T.Baden Hardstaff (Hardstaff Haulage), Hardstaff Traffic Barrier Services, Charnwood Truck Services and Portal Gas Services. This diverse range of expertise allows Hardstaff Group to provide turn-key solutions from infrastructure through to the design and sale of bespoke vehicles.

Hmmmm.

Exclusive European distribution rights for Materials Handling Fuel Cells

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed an agreement ("the Agreement") with Infintium Fuel Cell Systems Inc. of Texas ("IFCS") to become its exclusive European distributor of fuel cell systems for materials handling equipment.

Sale of Equipment

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has sold its first hydrogen generation system to the European Aeronautic Defense and Space Company (EADS) for use by its research arm, Innovation Works, in its Energy and Propulsion laboratory.
,
ITM Power CEO, Dr. Graham Cooley, said: "EADS is a very high quality organisation at the forefront of technology and we are delighted to have forged such a productive relationship."

A continual stream of good news for ITM!

Eu Grant Award

ITM Power (AIM: ITM), the clean fuel and energy storage company, announces that it has received confirmation of a €1.35m (£1.09m) grant award to a consortium to develop supply chains for PEM electrolyser components. The Company's share of this award is €0.36m (£0.29m).

In the three year programme, ITM Power will be working with consortium members Consiglio Nazionale delle Ricerche (CNR-ITAE); European Commission, Directorate-General; Joint Research Centre, Institute for Energy and Transport (JRC); Centre National de la Recherche Scientifique (CNRS); Solvay Speciality Polymers Italy; and TRE S.p.A Tozzi Renewable Energy. CNR-ITAE will have overall management responsibility for the project. The programme, known as the ELECTROHYPEM project and funded under the Seventh Framework Programme (SP1-JTI-FCH.2001.2.7) addresses the validation of developed materials for residential applications in the presence of renewable power sources.

700bar Dispensing Collaboration in Germany

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed an agreement with GHR Hochdruck-Reduziertechnik GmbH ("GHR"), part of IMI plc, to collaborate on the deployment of dual 700bar and 350bar hydrogen refuelling products for the German Mobility market.

GHR has developed a mobile hydrogen dispenser for both 700 bar and 350 bar refueling which has been in use for several years in Germany. The strong pedigree in fluid control and pressurized systems also makes GHR an important partner in the supply chain for high pressure components.

Capability to refuel to 700 bar is of key importance as automotive OEM's have specified this higher pressure for the fuel cell vehicles to be rolled out as part of the German and UK Mobility programmes.

The agreement will see the integration of an ITM Power hydrogen generation system with a GHR dispenser to fully address the requirement for green, 700 bar hydrogen refueling within the German market. ITM Power and GHR will combine their experience of achieving product compliance to provide a fully certified solution. The first embodiment will be used for refueling demonstrations, tendering and ultimately product roll out.

ITM Power and GHR are now in a position to offer a full refuelling solution in Germany.

Technology Strategy Board Grant Award.

ITM Power, the energy storage and clean fuel company, has been awarded a grant by the Technology Strategy Board, the Government's innovation agency, for a project that will build and integrate into the power system, a hydrogen energy storage and vehicle refuelling system on the Isle of Wight.

The project will be led by ITM Power in a collaboration with SSE, Toshiba, IBM, Cable & Wireless Worldwide, National Physical Laboratory, Cheetah Marine, Arcola Energy, Ecoisland Community Interest Co, ("Ecoisland CIC") and the Universities of Glamorgan and Nottingham. ITM Power will receive £1.3m of grant funding directly with a further £1m going to the collaboration partners who are integrating their equipment with ITM Power's refuelling technology. The total project value is £4.66m


Update on Hydrogen Cost Structure

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to update the market on the cost structure of hydrogen generated by the Company's HFuel electrolyser platform. In November 2011 the Company announced the cost of hydrogen (in £/kg) derived from electrolysis based on the capital cost and operating efficiency measured during completed HOST trials. This update represents a revised cost structure based on the Company's larger 25kg/24hr stack platform which was launched at the Hannover Messe in April 2012 for larger scale refuelling and gas grid injection applications.

Final Results

HIGHLIGHTS

Clean Fuel:


• Achievement of CE marking and regulatory approval of HFuel for the German market

• HFuel cost structure lower than EU hydrogen cost targets for 2015

• UKH2Mobility MoU signed with the UK government

• £2.3m of TSB funding for the EcoIsland project, £1.3m direct to ITM Power

• Agreement with M&S to deliver the UK's first hydrogen fuel cell, materials handling trial

• Product development agreement with Boeing

• Partnership agreement with GHR (IMI) to address the German market


Energy Storage:

• Launched Megawatt Scale energy storage plant

• TSB grant to investigate the feasibility of injecting hydrogen into the UK gas grid

• Achievement of CE marking for HBox Solar


Financials and Corporate

• First significant revenues of £480,000 (2011: £8,000)

• Grant funding of £985,000 recognised in the period (2011: £1,088,000)

• New grant project awards of £2,734,000 (2011: £942,000)

• A further £1,200,000 of EU grants in negotiation

• Pre-tax loss for the period was £6.5m (2011: £6.4m)

• Cash and short-term deposits at 30 April 2012 £6.6m (30 April 2011: £12.2m)

• Decrease in cash and cash equivalents of £10.6m (2011: £4.8m), of which £5.0m was placed on term deposit

Dr Charles Johnstone appointed as Director of Engineering

Outlook

• Outlook positive with early revenue streams developing

• Grant funded project consortia are developing productive relationships

Sale of Equipment to CEA

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the sale of a hydrogen generation system to CEA Grenoble, France.

The CEA, a French government-funded technological research organisation, will use the 5Nm3/hr unit in a project targeted at the storage of renewable energy. The ITM Power electrolyser will be fed by a power simulator designed to mimic various forms of renewable energy. The hydrogen will be produced on site and stored in a metal hydride system before being used in a fuel cell to generate renewable power on demand and to supply green hydrogen.

The unit will be built in the UK and housed within a containerised platform that will be shipped to France as a fully CE marked plug and play unit.

Agreement with GMI Energy

Agreement with GMI Renewable Energy Group

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed an agreement with GMI Renewable Energy Group Ltd ("GMI") to offer an integrated renewable power generation and hydrogen production for back-up power, industrial processes and refuelling solutions for materials handling equipment in commercial buildings.

This agreement will offer renewable power coupled to hydrogen generation as a totally zero carbon process. Under the agreement, GMI will offer its existing and potential new customers the alternative of hydrogen generation as a use of their renewable power generated on-site.

ITM Power will provide the hydrogen generation and refuelling equipment and, if required, the fuel cell systems to enable customers to produce zero carbon hydrogen at the point of use for use in materials handling solutions, back up power and industrial processes.

GMI, trading as GMI Energy, is part of the GMI family of companies, which has delivered many successful building and construction service projects for over 25 years, for an international portfolio of developers, public sector clients and blue chip companies. GMI's range of services includes Solar PV, Low-Energy Lighting, Biomass and Smart Metering. GMI will select, design, install and manage renewable energy and energy saving systems of all sizes and on any type of property. GMI ensure the eligibility and warranty of the systems to both meet the property's energy requirements and provide the maximum financial return.

Shell and National Grid Join Gas Inject Project

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces that Shell Research Limited ("Shell") and National Grid plc have joined the Hydrogen Gas Inject feasibility study part funded by the Technology Strategy Board under its Smart Power Distribution and Demand competition.

Letter of Intent signed with German Utility

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed a Letter of Intent with one of Germany's top 10 local utility companies to investigate Power-to-Gas energy storage.

ITM Power is a SELL at 32p.

I had these to buy @30p - now I'm not so sure. Yet another technically sound company that doesn't or can't market its wares.

Agreement with ABO Wind of Wiesbaden, Germany

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed an agreement with ABO Wind of Wiesbaden, Germany to identify and develop wind to hydrogen projects in the UK, Ireland and Germany.

Might be time for a rise as there is potential here...plus the graph might have bottomed out and there was a placing at 50p not so long ago...now 32p or so....

Agreement with ABO Wind of Wiesbaden

Agreement with ABO Wind of Wiesbaden, Germany

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed an agreement with ABO Wind of Wiesbaden, Germany to identify and develop wind to hydrogen projects in the UK, Ireland and Germany.

ABO Wind initiates wind farm projects, acquires site locations, organises all technical and business planning, arranges international bank financing and delivers turnkey wind farms. To date, ABO Wind has connected more than 350 turbines with a total capacity of more than 600 megawatts through projects in the UK, Europe and Latin America. In addition to managing its own projects developed after commissioning, ABO Wind takes on the commercial and technical management of wind farms on behalf of international operators. ABO Wind manages 297 wind farms.

ITM Power GmbH Managing Director, Phil Doran,said: "ABO Wind is a market leader in Germany for turnkey wind power projects and is increasingly developing a strong presence in the UK. This is an ideal partnership for ITM Power to roll out green hydrogen energy systems. We are delighted to have found such a significant partner who shares our vision of wind power coupled to energy storage."

ABO Wind Head of Prototype Projects, Thomas Nietsch added: "ITM Power is gaining an international reputation in the area of hydrogen energy systems and we are looking forward to delivering some world-leading MW-scale projects together with our partner."

Excellent agreement ! takes them into all sorts of markets........might take some time but the sp should rebound from here......when I think that the sp was at 50p and now we are just hovering above the 30p mark.....looking at the chart for the last year : the sp has never been so low and yet funding has been completed and the company is making big strides into different markets....

Some buys this morning...rampety..rampety..ramp....we've got the power....

.

DECC Funding Award

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has been awarded a grant by the Department of Energy and Climate Change ("DECC") to undertake a £100k, 12-month engineering feasibility, as part of the £20m Carbon Capture and Storage ("CCS") Innovation Competition.

Agreement with AEG Power Solutions

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed an agreement with AEG Power Solutions (AEG PS) to cooperate in integrating its electrolyser technology with AEG's power control electronics. Under the agreement, ITM Power and AEG PS will initially address five live projects, the status of which ranges from imminent deployment to early proposal development.

So many agreements signed - WHEN ARE WE GOING TO SEE THIS TRANSLATED INTO PROFITS AND SP PERFORMANCE????

Grant Award for an Advanced Refueling Product

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has received confirmation of a €3.59m grant award from a programme of the European Union's Joint Technology Initiatives. The award is to a consortium for the development of an advanced refueling system using ITM Power's high pressure hydrogen electrolysis technology. The Company's share of this award is €0.87m.

Appointment of Lucas Bertrand

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has appointed Lucas Bertrand as its representative for France and its overseas territories. He will be based in Paris.

Lucas has over 20 years' experience in the portable energy and hydrogen power industry, most recently with Helion Hydrogen Power, part of the Areva Group, where he was Strategy & Business Development Manager. Before that, Lucas was Sales and Marketing Director for Cell Expert and spent 11 years with Duracell in OEM Business Development, Sales and Marketing roles. Lucas holds a MBA from the École Supérieure des Sciences Économiques et Commerciales (ESSEC) and speaks French, English, Spanish and Dutch.

Lucas joins Phil Doran (Germany and German speaking Europe) and Geoff Budd (North America) as part of the Company's international sales and marketing drive and has been recruited in response to the considerable interest in ITM Power's larger electrolyser products in France.

Important Intellectual Property Additions

First Sale in Japan

RNS

RNS Number : 0444Y
ITM Power PLC
18 February 2013



18 February 2013

ITM Power plc
("ITM Power" or the "Company")

First Sale in Japan

ITM Power (AIM:ITM), the energy storage and clean fuel company, is pleased to announce that it has sold the first reference plant based on the HPac platform to a company in Japan, which at this stage wishes to remain anonymous. ITM Power is now selling products more actively in Japan.

Commenting, Dr Graham Cooley, ITM Power's CEO said, "Japan is an important territory for ITM Power as it is seriously committed to the adoption of hydrogen as a transport fuel. We will be engaging more significantly with Japanese markets in 2013".

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

ITM Power plc
Graham Cooley, CEO

0114 244 5111
N+1 Singer (Nominated Adviser & Broker)
Shaun Dobson / Jenny Wyllie

020 7496 3000
Tavistock Communications
Simon Hudson / Kelsey Traynor
020 7920 3150

About ITM Power
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 and £5.4m in 2012 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. The Company has been successful in developing strategic industry partnerships in the following projects:

● EU Funding for Advanced Refuelling Project
http://www.itm-power.com/news-item/e3-59m-grant-award-for-an-advanced-refueling-product/
● AEG Power Solutions electrolyser integration with power electronics
http://www.itm-power.com/news-item/rapid-response-electrolyser-power-systems-integration/
· DECC Funding Award for the Production of Synthetic Methane
http://www.itm-power.com/news-item/decc-funding-award-for-the-production-of-synthetic-methane/
· EU Funding for PEM Fuel Cell Innovation - IMPACT
http://www.itm-power.com/news-item/eu-funding-for-pem-fuel-cell-innovation-impact/
· Agreement with ABO Wind of Wiesbaden, Germany
http://www.itm-power.com/news-item/agreement-with-abo-wind-of-wiesbaden-germany/
· Letter of Intent signed with German Utility
http://www.itm-power.com/news-item/letter-of-intent-signe-witdh-german-utility/
· Shell and National Grid Join Gas Inject Project
http://www.itm-power.com/news-item/shell-and-national-grid-join-gas-inject-project/
· EcoIsland TSB Funding
http://www.fuelcelltoday.com/news-events/news-archive/2012/july/ecoisland-progresses-tsb-grant-awarded-for-isle-of-wight-integrated-hydrogen-project
· 700bar Dispensing Collaboration in Germany
http://www.itm-power.com/news-item/700bar-dispensing-collaboration-in-germany/
· Marks & Spencer Pilot Materials Handling Fuel Cell Project
http://www.itm-power.com/news-item/ms-agreement/
· UKH2Mobility with leading auto OEM's, UK Gov't and industrial gas companies
http://www.itm-power.com/about-itm/partners/?id=49
· EcoIsland with Toshiba, IBM, Cable & Wireless, SSE and Southern Water
http://www.itm-power.com/about-itm/partners/?id=46
· Boeing Unmanned Aircraft System Refueller
http://www.itm-power.com/news-item/agreement-with-boeing/
· Electrolyser Distribution with Horizon Fuel Cells
http://www.horizonfuelcell.com/fuel_solutions_hbox.htm
· CREO with Ford, Jaguar Land Rover and Johnson Matthey
http://www.itm-power.com/about-itm/partners/?id=45
· Exclusive European distribution rights for Materials Handling Fuel Cells
http://www.itm-power.com/news-item/exclusive-european-distribution-rights-for-materials-handling-fuel-cells/
· Sale of Equipment to EADS
http://www.itm-power.com/news-item/sale-of-equipment-to-eads/
· EU Grant Award for PEM Water Electrolysers Coupled to Renewable Power Sources
http://www.itm-power.com/news-item/eu-grant-award-for-pem-water-electrolysers-coupled-to-renewable-power-

ITM Power makes first sale in Russia

StockMarketWire.com

Energy storage and clean fuel company ITM Power has sold the first reference plant based on the HPac platform to a company in Russia, which at this stage wishes to remain anonymous.

ITM Power says it looks forward to marketing its products more actively in Russia's rapidly growing energy sector.

Chief executive Dr Graham Cooley said, "Russia is a fast growing energy market that is beginning to look more seriously at the renewable space.

"We are pleased that companies in Russia are looking at the renewable energy sector in general and our products in particular."

At 9:36am: (LON:ITM) ITM Power share price was +1.63p at 38.25p

First Sale of 'Power-to-Gas' Plant in Germany

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has won a competitive tender process, based on both price and performance, for a Thüga Group project, to supply a 360kW Power-to-Gas energy storage plant. This is ITM Power's first major commercial sale in Germany of a large hydrogen production unit based on its unique design of a self-pressurising rapid response PEM Electrolyser. The unit produces 125kg/day of hydrogen gas and incorporates AEG power electronics. It will be situated at a Mainova AG site in the Schielestraße, Frankfurt in the state of Hessen.

The operational data will be shared by the whole Thüga Group - the largest network of energy companies in Germany with around 100 municipal utility members.

The project partners include: badenova AG & Co. KG, Erdgas Mittelsachsen GmbH, Energieversorgung Mittelrhein GmbH, erdgas schwaben GmbH, Gasversorgung Westerwald GmbH, Mainova Aktiengesellschaft, Stadtwerke Ansbach GmbH, Stadtwerke Bad Hersfeld GmbH, Thüga Energienetze GmbH, WEMAG AG, e-rp GmbH, ESWE Versorgungs AG with Thüga Aktiengesellschaft as project coordinator. Scientific partners will participate in the operational phase.

Power-to-Gas energy storage is rapidly growing in significance in Germany and this deployment with Thüga Group is the largest ever PEM Electrolyser deployment in a Power-to-Gas application to date. PEM electrolysers are able to respond rapidly to fluctuating renewable inputs and so are able to store renewable energy as hydrogen for injection into the gas grid. The ITM Power technology is unique since it can respond in one second and is self-pressurising up to 80bar, permitting direct injection into the German gas grid.

Sainsbury's joins UKH2Mobility

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to note that Sainsbury's has joined Phase 2 of the UKH2Mobility project. The addition of Sainsbury's to the project was announced as Business and Energy Minister, Michael Fallon, welcomed the publication of the full UKH2Mobility Phase 1 report.

Welcoming the publication of the full UKH2Mobility report on hydrogen vehicles, Business and Energy Minister Michael Fallon said: "Securing new economic opportunities for the UK, diversifying our national energy supply and driving down carbon emissions go to the heart of my job in government. The findings of the report demonstrate hydrogen fuel cell electric vehicles can have a real impact on all three.

"It is very positive that all the UKH2Mobility partners will be joining us in the next phase of the project where they will be joined by Sainsbury's. Successful commercialisation of the technology will require government to work in strong partnership with industry.

"Prompt action is needed to ensure the potential benefits are realised by businesses and consumers in the UK and work on the next phase will start straight away".

Participation in North Sea Power-to-Gas Platform

ITM Power (AIM: ITM), the energy storage and clean fuel company, is delighted to announce its participation in the newly established 'North Sea Power to Gas Platform' to further develop the concept of Power-to-Gas (P2G) and draws investors' attention to the following announcement released today by DVN KEMA the project coordinator:

"Eleven leading companies in Europe have joined forces in the newly established North Sea Power to Gas Platform to further develop the concept of Power-to-Gas (P2G): the conversion of renewable power into gas. P2G will play an increasingly important role in our future energy system, as it reduces temporal surpluses of renewable power by converting these surpluses into gases. As these gases can be used for different purposes such as transportation, domestic heating, as feedstock for the chemical industry, and power generation, the potential value of P2G is considerable.

"The establishment of the North Sea Power to Gas Platform is an important step in the transition towards a sustainable energy system", says Lukas Grond, P2G expert at DNV KEMA and secretary of the Platform. "I am pleased that this group of reputed companies has joined forces to bring this technology a step further into the global energy market." The Platform is an initiative of energy consulting and testing & certification company, DNV KEMA, and includes Fluxys Belgium and Hydrogenics (Belgium); Energinet.dk and Maersk Oil (Denmark); Alliander, Gasunie and TenneT(Netherlands); ITM Power and National Grid(UK); and Open Grid Europe(Germany).

The share of electricity from renewable sources in the European electricity mix is increasing. As the power generation from wind and solar fluctuates, the match between renewable power supply and demand is becoming more challenging. At the same time, there are additional challenges to transmit the increasing volumes of renewable power from wind or solar farms to end users. The gas infrastructure can accommodate large volumes of electricity converted into gas in case that the supply of renewable power is larger than the grid capacity or than the electricity demand. As a result, P2G enables the share of renewables in the energy mix to increase, making this innovation an important topic in achieving a carbon-neutral gas supply in 2050.

P2G is of particular interest for the North Sea area as its on- and off-shore natural gas infrastructure is well developed. In addition, the combined generating capacity of offshore wind farms on the North Sea could reach around 100 GW by the year 2030, while the PV capacity installed in the countries surrounding the North Sea is expected to increase from 35 GW in 2012 to almost 60 GW in 2020.

The North Sea Power to Gas Platform is a joint body, based on an integrated network of stakeholders, aiming to further develop the concept of P2G in the countries surrounding the North Sea. The Platform collaborates with the European Gas Research Group(GERG), the Mediterranean Power2Gas Platform (currently being established), as well as shipping companies, NGO's, utilities, energy technology providers, Transmission System Operators and Distribution System Operators."

For further information please contact: Rolf van Stenus Global Press Officer, DNV KEMA, on +31 26 356 2607 or email rolf.vanstenus@dnvkema.com.

Hannover Fair and First Sale to New Territories

Hannover Fair results in Significant Utility Scale Power-to-Gas Enquiries

First Sales Achieved in South America and Hungary

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces a successful Hydrogen and Fuel Cell Fair at the Hannover Messe in April and the Company's first sales of products to South America and Hungary.

The Hydrogen and Fuel Cell Fair at the Hannover Messe took place from the 8th to the 12th April 2013. As last year, ITM Power had a significant presence at the Fair and once again provided its HFuel hydrogen refueling station to refuel the fleet of fuel cell electric vehicles at the event.

The Company's products attracted a high level of interest, resulting in a large pipeline of leads which have been followed up. This year the quotations that have been issued are much larger in size than last year and are predominantly to international companies. Many enquiries were also directed to specific projects or live tenders rather than general information gathering and have resulted in significant corporate engagement.

Utility scale energy storage applications in the form of both 'Power-to-Gas' and 'Power-to-Gas plus Methanation' dominated the enquiries and were the subject of dedicated discussions and presentations in the public and technical forums. The increased awareness of these energy storage techniques by major power, oil and gas companies is noteworthy.

Separately, ITM Power announces the sale of two reference plant built on the HPac platform to South America and Hungry; these are the first sales to these territories and the Company notes the increased level of interest in its products from Eastern European countries.

ITM Power CEO, Dr. Graham Cooley, commented: "We had another very good Fair at the Hannover Messe where our pipeline of enquiries was refreshed and extended. Power-to-Gas energy storage is seeing intense interest from European energy companies and ITM Power's technology is well positioned as a result of the Thuga contract win."

Dr Graham Cooley will be presenting the Company's Power-to-Gas energy storage strategy and products at the Zeus Capital "New Energy Technologies" investor conference at 2pm tomorrow, May 2nd at Dartmouth House, 37 Charles Street, Mayfair, London.

Corporate and Technical Due Diligence

ITM Power (AIM: ITM), the energy storage and clean fuel company announces that, following the conclusion of non-disclosure agreements, it has allowed three corporate customers access to a data room of technical and corporate information. The three customers, which at this stage are confidential, are a global gas group, an oil major and an aerospace and defence company. The outcomes of the due diligence processes, outlined below, have been very positive.

Suggestions that ITM are involved with Hyundi in California. Awaiting confirmation.

Trading Statement

ITM Power has made the following significant progress toward the full commercialisation of its technology, both in the UK and internationally, as countries around the world advance their plans for hydrogen infrastructure roll-out, namely:


· Founding member of the Californian Hydrogen Business Council Hydrogen Energy Storage (HES) Program
· Formation of a Danish subsidiary to participate in the Danish markets for Power-to-Gas energy storage and hydrogen mobility
· Sale of a Power-to-Gas unit to the Thüga Group a consortium of German utilities and participation in the German Energy Agency's Power-to-Gas Strategy Platform
· New grant awards in the last year for collaborative projects with large multi-national company partners totalling £4.25million over the next 3 years
· Publication of the UKH2Mobility report outlining the roll out of refuelling stations in the UK, 50% of which will be based on electrolysis for hydrogen production.

Participation in French Mobility Programme

Link copied :-

The battery of the future: Construction of power to gas demonstration plant

Hydrogen Cost Structure Update

Contract for operation of hydrogen facility

RNS

RNS Number : 4052K
ITM Power PLC
30 July 2013



30 July 2013

ITM Power plc
("ITM Power" or "the Company")

Contract for operation of hydrogen facility

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has been selected by the Homes and Communities Agency (HCA) as the preferred bidder in a recent competitive tender process to become the operator of a Hydrogen Mini Grid System (HMGS) in Rotherham, UK.

The Hydrogen Mini Grid System (HMGS) is a unique UK asset consisting of a 225kW wind turbine coupled directly to an electrolyser, 200kg of hydrogen storage and a hydrogen dispensing unit as well as a 30kW fuel cell system for back up power generation for nearby buildings.

The facility will be upgraded as a showcase for ITM Power's world-class equipment and used to provide retail hydrogen fuel services within the Sheffield City Region. The HMGS will also serve to develop ITM Power's modular commercial platform for hydrogen generation systems, power to gas and refuelling solutions. Particular focus will be on the national hydrogen mobility initiatives being undertaken in countries around the world.

The facility is located on the Advanced Manufacturing Park (AMP) in Rotherham just two miles from the M1 motorway network and within reach of large conurbations. This gives the facility a very large catchment area and provides the perfect position for a commercial refuelling station.

The M1 was highlighted as a key route for the early deployment of hydrogen refuelling in the UK in the recently published UK H2Mobility Phase 1 Report [http://www.itm-power.com/wp-content/uploads/2013/02/UK-H2Mobility-Synopsis-of-Phase-1-Results-Feb-2013.pdf] The HMGS already has planning permission for hydrogen systems and much of the required infrastructure and groundwork is already in place, which allows for very low set up costs to install and use ITM Power's non-invasive hydrogen generation technology.

Subject to final contract ITM Power will sign a five year lease on the site and will work in collaboration with local authorities, businesses, Sheffield University, DeMontfort University and UPS Systems to provide retail fuel services for a range of low carbon vehicles and provide educational material for the hydrogen sector.

ITM Power CEO, Dr Graham Cooley, said: "We are delighted to have been selected as the operator for the HMGS in Rotherham. The site has huge potential and ITM Power is perfectly positioned to realise this potential with our unique technology. Together with our partners, we will be able to use the site as a retail hydrogen fuel station for the area and it will provide a repeatable blueprint for similar systems to be deployed around the world."

31 July 2013

ITM Power plc
("ITM Power" or the "Company")

Participation in the Mediterranean Power-to-Gas platform

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has joined the newly formed Mediterranean Power-to-Gas platform (MP2G) which will develop projects based on the integration of both wind and solar PV for Power-to-Gas energy storage across the Mediterranean region.

The MP2G platform, managed by DNV KEMA, has been established to develop energy storage projects in the Mediterranean region for intermittent energy based on wind power and solar PV, whereas the North Sea Power-to-Gas platform (NSP2G) focuses on wind power in the North Sea region.

The list of members of the MP2G platform includes EDP (Portugal), REN (Portugal), Enagas (Spain), Gas Natural (Spain), GDF Suez (France), TIGF (France), Edison (Italy), Hydrogenics and SNAM (Italy).

ITM Power CEO, Graham Cooley, commented: "Power-to-Gas energy storage is the lowest cost long term energy storage technique and is being deployed all over Europe and we are delighted to be part of this new initiative."

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

Seriously, so much positie newsflow but the SP never goes anywhere! Is this likely to soar to £10/12 in the future or is that just pie in the sky....?

Final Results & Placing

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce:

· publication of the Company's final results for the year ended 30 April 2013; and
· that it has raised £2,000,000 before expenses by way of an issue of 5,714,286 new ordinary shares of 5 pence each at a placing price of 35 pence per share.

Final results for the year ended 30 April 2013

Summary

Operational
· First order of Power-to-Gas plant to the Thüga group in Germany
· Preferred bidder for the supply of a refuelling station in California
· Participation in German Government Power-to-Gas platform
· Participation in North Sea Power-to-Gas platform
· UKH2Mobility backs 50% electrolytic hydrogen for UK rollout
· Participation in H2USA the US hydrogen rollout initiative
· Participation in French National mobility programme
· First orders in Japan and South America
· First sale in Russia
· Core electrolyser stack efficiency improved by 11%
· Core electrolyser stack full power response time reduced to 0.2 of a second

Financial
· Revenue for the period was £87k (2012: £480k), a significant decrease which represents delays experienced in commissioning and deployment of products at customer premises.
· £0.9m order book plus strong and growing quotation pipeline
· £3.7m of grant awards; another £3.5m subject to contract
· Cash burn of £6.1m (2012: £5.7m). Cash burn is defined as the underlying rate of cash outflow after adjusting for movements in short term deposits and fund raising receipts, and is reconciled to the Consolidated Cash Flow Statement
· Cash balances at period end of £5.9m (2012: £6.6m)

H2USA Update

RNS

RNS Number : 2185L
ITM Power PLC
08 August 2013



8 August 2013

ITM Power plc
("ITM Power" or the "Company")

H2USA Update

New members sign up, launch meeting to be held today

ITM Power, Inc. of California, a wholly owned subsidiary of ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to provide an update on its participation in H2USA, the hydrogen infrastructure programme for the USA.

The United States Energy Department launched H2USA, a public-private partnership focused on advancing hydrogen infrastructure to support more transportation energy options for US consumers, including fuel cell electric vehicles (FCEVs) on 13 May 2013. Since that date, 12 additional organisations have signed up to H2USA: Air Liquide, American Honda Motor Company, ARC: Hydrogen, Argonne National Laboratory, Chrysler Group LLC, General Motors Holding, Hydrogenics, National Renewable Energy Laboratory, Nuvera Fuel Cells, Plug Power, SCRA and Sandia National Laboratories. The 13 founding members of the H2USA partnership were the American Gas Association, Association of Global Automakers, the California Fuel Cell Partnership, the Department of Energy, the Electric Drive Transportation Association, the Fuel Cell and Hydrogen Energy Association, Hyundai Motor America, ITM Power, Inc., Massachusetts Hydrogen Coalition, Mercedes-Benz USA, Nissan North America Research and Development, Proton OnSite, and Toyota Motor North America.

The launch meeting of H2USA takes place today in Washington at the offices of the Association of Global Automakers with an agenda to develop an organisational framework and strategy to address H2USA's mission to promote the commercial introduction and widespread adoption of FCEVs across America through overcoming the hurdle of establishing hydrogen infrastructure. Attendees will be welcomed by Dr. David Danielson, Assistant Secretary, Energy Efficiency and Renewable Energy, U. S. Department of Energy.

Four working groups within H2USA have been formed to report on moving hydrogen infrastructure forward and the barriers that need to be overcome to deliver that objective:

· Hydrogen Fueling Station Working Group
· Market Support and Acceleration Working Group
· Financial Infrastructure Working Group
· Locations Roadmap Working Group

Geoff Budd of ITM Power, Inc. and a member of the Hydrogen Fueling Station Working Group, commented: "As a founding member of H2USA, we will be very much involved in helping to map out the United States' strategy for the adoption of hydrogen infrastructure and will be able to share global experience from our membership of similar organisations in the UK, Germany, France, Switzerland and Denmark.

"The US market looks set to be a key territory for ITM Power. I am delighted with the progress we are making in North America."

EU Grant award

ITM Power (AIM: ITM), the clean fuel and energy storage company, announces that it has received confirmation of a €0.35m (£0.31m) grant award to work with a consortium to demonstrate energy efficient technologies and energy storage solutions for non-residential buildings.

From III

Thüga plant delivered on schedule

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has delivered its first Power-to-Gas plant to the Thüga Group in Frankfurt on time and to budget.

The plant is now deployed at the Mainova Aktiengesellschaftsite in Schielestrasse, Frankfurt am Main where the compliant gas mixing and grid injection infrastructure, is already in place. The plant will now undergo an extensive acceptance, compliance and commissioning phase before going live in December. The install also includes a monitoring facility and visitor's reception so that members of the Thüga group can examine the performance of the plant.

The Company will update the market when commissioning is completed and the plant first injects hydrogen into the German Gas Grid. The operational data will be shared by the whole Thüga group - the largest network of energy companies in Germany with around 100 municipal utility members.

The Thüga plant is the first to be delivered of £4.5m of equipment being manufactured at ITM Power funded by commercial sales and grant funded collaborative projects. With an order book of £1.7m and a rapidly developing pipeline of revenue the Thüga delivery marks a significant juncture for ITM Power.

Organised in partnership with Cenkos Securities and Shares magazine, the second Innovators & Investors Forum will take place on 4th February 2014 at the Business Design Centre, London N1.

The event aims to showcase up to 40 leading innovative and imaginative technology-led firms and to bring them together with the investment community. It combines both a company expo and an educational conference where delegates learn about a range of investment opportunities.

REGISTER NOW

Why attend?

This event gives you a platform to meet under one roof up to 40 technology-led companies, hear their messages during presentation seminars and engage in discussions with them on their stands.

The event is supported with an extensive conference program, including keynote speakers and company presentations.



Companies already confirmed for the 4th February 2014 include:

Allocate Software
Angle
Avanti Communications
Bango
Bond International Software
Brady
Cenkos Securities
CML Microsystems
Deltex Medical
Earthport
Eleco
Enables IT
Escher Group Holdings
Filtronic
Forbidden Technologies
Globo
Imperial Innovations
incadea
InternetQ
ITM Power
KBC Advanced Technologies
Kromek Group
Optimal Payments
Plastics Capital
Quindell
Regenersis
Rightster
StatPro
Transense Technologies


CONFERENCE AGENDA

The following session is dedicated to a mix of institutional investor and private investors.

11:40 Company presentation - Colin Miles, VP, Corporate Relations - InternetQ

11:55 Company presentation - Hank Uberoi, CEO - Earthport

12:10 Company presentation - Quindell

12:25 Company presentation - Dr Nigel Pitchford, Chief Investment Officer - Imperial Innovations

12:40 Lunch

The afternoon sessions are dedicated to private investors.

14:00 Keynote address - Richard Penny, Senior Fund Manager - Legal and General UK Alpha Trust

14:15 Russ Mould, Editor - Shares Magazine

14:30 Company presentation - Kromek Group

14:45 Company presentation - Joel Leonoff, President & CEO - Optimal Payments

15:00 Company presentation

15:15 Company presentation - Charlie Muirhead, CEO and Founder - Rightster

15:30 Company presentation - Caroline Brown, Executive Director & CFO - KBC Advanced Technologies

15:45 Coffee

16:15 Company presentation - Andrew Fabian, Group Finance Director - StatPro

16:30 Company presentation

16:45 Company presentation

17:00 Company presentation - Jonathan O’Connell, CFO - Escher Group Holdings

17:15 Company presentation - ITM Power

17:30 Close

The exhibition will be open from 10:45 to 17:30.

Coffee / lunch will be served within the exhibition.


This agenda is subject to change and alterations. More companies to be announced soon.

REGISTER NOW

The exhibition will be open from 10:45 to 17:30.

Coffee / lunch will be served within the exhibition.



This agenda is subject to change and alterations. More companies to be announced soon.



EXHIBITION

The exhibition will be open from 10:45 to 17:30.

Coffee / lunch will be served within the exhibition.



Dress code: business attire




VENUE
Business Design Centre
52 Upper Street
Islington
London N1 0QH

http://www.businessdesigncentre.co.uk/

Access map: http://www.businessdesigncentre.co.uk/VisitingUs

Closest tube station: Angel (3 min. walk) - Northern Line





SPONSOR


Cenkos Securities is an independent specialist securities firm focused on UK small and mid-cap companies.
We aim to be entrepreneurial, whilst seeking to establish long-term relationships with corporate and institutional clients.
Our directors and partners have on average more than 25 years' experience in the UK securities market. They have pioneered and led some of the most successful and innovative transactions in the UK securities market over the last decades.

REGISTER NOW

Contract with AMEC and National Grid

Gas Network Optimisation Contract with AMEC and National Grid

ITM Power (AIM:ITM), the energy storage and clean fuel company, is pleased to announce that it has secured a commercial contract from AMEC and National Grid to assess the deployment of Power-to-Gas Energy Storage technology to reduce the energy losses in the gas network.

The project will look at the cost and energy benefit of deploying Power-to-Gas technology at specific sites on the gas network to reduce energy losses and increase system efficiency. AMEC, a tier 1 supplier to National Grid will be undertaking a third party assessment of the cost benefit analysis.

Dr Graham Cooley, CEO of ITM Power commented: "ITM Power is delighted to be working with National Grid and AMEC on this important deployment study which has very significant market potential in the UK and worldwide."

£2.8m contract to supply three refuelling stations in London

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the successful award of a contract to supply three of its electrolyser-based refuelling stations to London under the EU FCH JU funded HyFive project announced by the Mayor of London's Office today. The contract is worth approximately £2.8 million (€3.3m) to ITM Power and brings the total value of product build under contract to £6.6m.

The three CE marked rapid response grid balancing stations will be the first green hydrogen deployments in London and are expected to be operational in time to coincide with the roll out of fuel cell electric vehicles planned by the major OEM's. The full text of the announcement from the Mayor's Office is set out below:


more...

Now that is an opening gap!

Epic: Keywords:
From: Time: (hh:mm) RNS: MonAM:
To: Time: (hh:mm)
Please Note - Streaming News is only available to subscribers to the Active Level and above



Toyota to Launch Fuel Cell Sedan in 2015

RNS

RNS Number : 2737T
ITM Power PLC
02 October 2014



2 October 2014

ITM Power plc
("ITM Power" or "the Company")

Toyota to Launch Fuel Cell Sedan in 2015

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to note the announcement by Toyota, at the Paris Motor Show, of its intention to launch its Fuel Cell Sedan in Japan, the USA and in Europe during the course of 2015. The full text of Toyota's announcement is set out below:

TOYOTA FUEL CELL SEDAN AT THE 2014 PARIS MOTOR SHOW

After more than 20 years of research, Toyota's vision of the car of the future has become a reality. The new Toyota Fuel Cell Sedan, seen for the first time in Europe at the Paris motor show, can carry four people in comfort, has a driving range comparable with a petrol engine vehicle and can be refuelled in around three minutes, yet its only tailpipe emission is water vapour.

The world's first production hydrogen-powered saloon is a development of the Toyota FCV Concept that made its international debut at the 2013 Tokyo motor show. While remaining faithful to the avant garde styling of the concept, the Fuel Cell Sedan features a number of detail changes that make it practical for everyday driving, including adjustments to the radiator grille, headlamps, rear lights, aerial, roof and fuel filler flap. Unsurprisingly, the concept's rear-view cameras have been replaced by conventional mirrors.

The Toyota Fuel Cell Sedan will be launched in Japan, the USA and in Europe during the course of 2015.

Specific architecture
The Toyota Fuel Cell Sedan is designed to be practical for motorists' everyday needs, being a front-wheel drive, four-door, four-seat saloon. Performance and cruising range are like that of a petrol engine vehicle and filling the fuel tank takes roughly three minutes.

To maximise cabin space and lower the car's centre of gravity, the fuel cell, battery and fuel tanks are installed under the floor. The two tanks store hydrogen at pressures up to 700bar.

The front compartment houses the electric motor, electronic control system and boost converter. The converter increases the voltage produced by the fuel cell, so has allowed for the size of the motor and number of cells to be reduced, cutting costs and increasing performance.

The technology has advanced considerably since 2002 when Toyota began renting Highlander SUV-based fuel cell vehicles to customers in Japan and North America. A key difference in the new generation of fuel cells is that there is no humidifier; the humidity the fuel cell needs is taken directly from the water produced in the chemical reaction between the hydrogen and oxygen. This means the structure of the fuel cell has been made simpler, more compact, more reliable, lighter and cheaper to produce.

Commercialisation
The Fuel Cell Sedan will go on sale in Japan before April 2015 and preparations are under way for launches in the USA and European markets in the summer.

In Japan the Fuel Cell Sedan will be sold at Toyota and Toyopet dealerships, priced at approximately seven million yen (about £43,450). Initially sales will be limited to those parts of the country where a hydrogen refuelling infrastructure is under development. Prices for Europe and the USA have not yet been decided. Detailed information such as final prices, specifications and sales expectations will also be announced later.

Toyota's commitment to developing vehicles that are kinder to the environment is based on three principles: embracing diverse energy sources; securing low vehicle emissions; and driving positive environmental change by making these vehicles popular with customers.

Hydrogen has great potential as an alternative fuel. It can be produced from a wide variety of primary energy sources, including solar and wind power; it is easy to store and transport; and when compressed, it has a higher energy density than batteries. It could also be used in a much wider range of applications beyond automotive and domestic use, including large-scale power generation.
Fuel cell vehicles contribute to the diversification of vehicle fuels. They emit no carbon dioxide or substances harmful to the environment when driven, but offer the convenience associated with petrol-powered vehicles. Toyota believes the technology has great potential in the development of vehicles that are kinder to the environment and ideal for helping deliver sustainable mobility.

The HyFive project
The aim of the HyFive (Hydrogen for Innovative Vehicles) project is to speed up the introduction hydrogen-powered cars in Europe. The group is a partnership of 15 vehicle manufacturing and energy providing businesses who are joining forces to help ensure a co-ordinated deployment of fuel cell vehicles, in conjunction with establishment of the refuelling and fuel supply infrastructure they will require.

Toyota, BMW, Daimler, Honda and Hyundai will be responsible for delivering a fleet of 110 vehicles to six European cities: Bolzano, Copenhagen, Innsbruck, London, Munich and Stuttgart. A network of hydrogen refuelling pumps will be developed simultaneously within these five metropolitan areas, as well as in Sweden, Denmark's close neighbour.

The vehicles deployed by Toyota from the effective launch of the programme at the end of 2015 will be fitted with a continuous data logging system. This will operate throughout the three-year project, providing engineers with detailed, day-to-day feedback on the cars' use and performance, information that will be essential for further development of the fuel cell technology.

For all stakeholders, the project will raise the public image of the hydrogen-powered car, the future of private transport.

Main technical specifications
Power source - hydrogen fuel cell
Fuel cell type - polymer electrolyte
Electric motor - permanent magnet
Hydrogen tanks - two high-pressure (700bar/70MPa) units


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.
www.itm-power.com

-ends-


This information is provided by RNS
The company news service from the London Stock Exchange

END


NRAFSISUEFLSESS

"ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to note the announcement by Toyota"....but there is nothing to suggest that ITM have had any input into this vehicle. It just seems that they (ITM) have been pleased that this particular technology is being commercialised.

Trading Statement

Some great news out today for ITM !!



ITM Power PLC
UK Government Funding for FCEV Infrastructure
RNS Number : 9008T
ITM Power PLC
09 October 2014




9 October 2014



ITM Power plc

("ITM Power" or "the Company")



Government Funding to Help Prepare the UK for the Arrival of Hydrogen FCEVs



ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to note the announcement by Business Minister Matthew Hancock in Japan of £11m of funding to help establish an initial network of up to 15 hydrogen refuelling stations by the end of 2015 and for public sector hydrogen vehicles. These 15 refuelling stations are 'a significant first step towards the initial national network of 65 identified by UKH2Mobility'.



The full text of The Government's announcement is set out below:



MULTI-MILLION POUND FUND TO GET HYDROGEN CARS MOVING



The arrival of hydrogen cars on UK roads is a step closer today as the Business Minister Matthew Hancock announced up to £11 million of funding. Government and industry will prepare the UK for the roll-out of hydrogen fuel cell electric vehicles (FCEVs).



The £11 million investment will:

· help establish an initial network of up to 15 hydrogen refuelling stations by the end of 2015

· include £2 million of funding for public sector hydrogen vehicles.



This is part of the UK Government's drive to become a global leader in ultra-low emission vehicles and follows news earlier this month that Toyota has chosen the UK as one of the first markets for its FCEV when it goes on sale next year.



It is just one of the ways that Government plans to decarbonise road transport alongside battery electric vehicles and plug-in hybrids with £400 million of support available in the current Parliament and £500 million committed in the next.



Of the £11 million announced today, £7.5 million will come from Government and £3.5 million from industry:

· £2 million of top-up funding to upgrade 6-8 existing hydrogen refuelling stations (already operational or under development in the UK) and take them from demonstrator projects to publically accessible sites

· £3.5 million of funding to be matched by industry for 4-7 new hydrogen refuelling stations. This will include mobile stations as well as those on stand-alone sites and integrated into conventional petrol forecourts

· £2 million of funding for public sector fleets to encourage deployment of around 40 hydrogen FCEVs in focused geographical clusters.



Speaking in Japan where he met executives at Honda, Nissan and Toyota, Mr Hancock said: "Britain has become one of the best places in the world to build cars, with the value of those we export outstripping imports for the first time in a generation, but we want to go further.



"Hydrogen cars present us with a huge economic opportunity and can bolster our internationally renowned automotive industry. We want to make the UK one of the best places in the world to design, manufacture and sell ultra-low emission vehicles.



"Government will work in true partnership with industry so the potential benefits are realised

by businesses and consumers across the UK."



Transport Minister Baroness Kramer said: "By 2040 all new cars and vans will be ultra-low emission vehicles and this could be delivered by a variety of technologies, including plug-in hybrids, pure EVs and hydrogen. We want to ensure that support is there for all of these vehicles and that the UK continues to lead the pack in providing the right infrastructure to drive the switch to electric."



The programme follows on from the work undertaken by the UKH2Mobility project - which brings together leading businesses from the automotive, energy, infrastructure and retail sectors with Government - to provide a 'roadmap' for the introduction of fuel cell vehicles and hydrogen refuelling infrastructure in the UK.



Establishing 15 hydrogen refuelling stations by the end of 2015 will represent a significant first step towards the initial national network of 65 identified by UKH2Mobility.



Notes to editors

1) The UKH2Mobility project was established to evaluate the benefits of hydrogen fuel cell electric vehicles (FCEVs) to the UK and to develop a roadmap for the introduction of fuel cell vehicles and hydrogen refuelling infrastructure.



2) There are currently 12 industry participants (below) in UKH2Mobility together with three UK Government departments - the Department for Business, Innovation and Skills, the Department for Transport and the Department for Energy and Climate Change - and Transport Scotland, Welsh Government and the Greater London Authority. The European Fuel Cells & Hydrogen Joint Undertaking is also a participant.

Air Liquide SA

Daimler AG

Honda

The Hyundai Kia Automotive Group

Intelligent Energy Limited

ITM Power plc

Johnson Matthey plc

Morrisons

Nissan Motor Manufacturing (UK) Ltd

Sainsbury's

The BOC Group Limited (part of the Linde Group)

Toyota Motor Corporation



3) Hydrogen fuel cell electric vehicles share a large proportion of the electric motor and drive train technology with other electric and plug-in hybrid vehicles; it is the energy storage/conversion devices that are different. The fuel cell is an electrochemical device that can be refuelled quickly - it will continue to generate power so long as it is fed with hydrogen and fuel cell vehicles have a similar range to their internal combustion engine equivalents. They are highly efficient devices (50-60 per cent compared to an average of around 20 per cent for internal combustion engines) that produce no emissions or pollutants at the tail-pipe and much reduced overall well-to-wheel emissions when compared with today's petrol and diesel engines.



4) Hydrogen is a clean energy carrier. When used as fuel in fuel cell systems it does not produce any carbon emissions (carbon monoxide, carbon dioxide, unburned hydrocarbons or particulates). Therefore, using hydrogen will contribute to the improvement of air quality and the reduction of CO2.

Already posted above.

six weeks later, we have seen a lot more positive comments re itm, today from the german conection, we have seen the price in the last 10 days go from 19 to 30 as it is suggested that a large hoder(blacrock) got out. If this is true , the selling seen was very badly handled.
Yet seemingly no followers here.

Stable - I still hold some, but not worth much now - same story with AFC.

hold them another year will see some improvement, i need them to climb a lot but I am confident that will happen.todays announcemet could well be the beginning and then the motor interest may well be just the 'bit extra'

http://www.investegate.co.uk/itm-power-plc--itm-/rns/heles-project-funding/201411270700051117Y/

http://www.investegate.co.uk/itm-power-plc--itm-/rns/sale-of-second-major-power-to-gas-plant/201412110700154481Z/

http://www.investegate.co.uk/itm-power-plc--itm-/rns/second-contract-with-amec-and-national-grid/201412180700131101A/

http://www.brrmedia.co.uk/event/133318?popup=true

https://www.youtube.com/watch?v=sAFJTGfKp78

http://www.bbc.co.uk/news/business-30488657

ITM Power - Manufacturing, testing and power supply expansion

Click here

Encouraging start to the new year
Featured in IC Blog at
www.investorschampion.com/blog

Sp breakout about to happen...not certain but looks like it...

Late in the day!

Half Year Results for the Period ended 31 October 2014

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces its interim results for the six month period ended31 October 2014. The Company currently has £8.76m of projects under contract and a further £2.61m of contracts in final stages of negotiation.

Summary:

Commercial Progress
· £5.59m of projects under contract at the period end
· Second US refuelling station award from the California Energy Commission for US$2.125m (£1.417m)

Post period end
Whilst noting that the Company is still at a developmental stage, trading has been slower than anticipated, meaning results for the full year will be substantially lower than market expectations, however:
· A further £3.17m of products under contract secured making a current total of £8.76m under contract
· A further £2.61m of contracts in final stages of negotiation
· £0.90m approved project funding for the HELES project
· Sales order received for a Power-to-Gas system to RWE in Germany
· Second gas network optimisation contract with AMEC and National Grid

Key Financial Results for the six months ended 31 October 2014
· Total revenue and grant funding of £1.34m (2013: £1.61m), comprising:
o Revenue £0.52m (2013: £0.71m)
o Grant income £0.82m (2013: £0.90m)
· Increase in fixed assets to £1.51m from £1.42m
· Loss from operations £3.69 (2013: £3.29m)
· Reduced cash burn* of £3.09m (2013: £4.15m) due to the receipt of upfront payments on contracts
· Cash balance of £6.67m at period end (2013: £3.70m)
*Cash burn is a non-statutory measure and is defined underneath the Cash Flow Statement

Corporate Development
· Advanced discussions with a potential strategic industry investor
· Sir Roger Bone joins the board as a Non-Executive Director
· Stephen Jones MD of ITM Power Inc. relocates to open California office
· Andy Allen appointed as CFO and Company Secretary

Graham Cooley, CEO, commented: "Whilst trading has been more difficult than anticipated this has still been a very productive period for us. ITM Power has now identified and optimised its key products, deployed reference plant in its key markets and is now selling large scale plant to major international companies."

Roger Putnam, Chairman, added:"Our staff, through their hard work and dedication have transformed ITM Power into an internationally respected company with a growing order book in two massive, rapidly emerging global markets. We look forward to continuing the Company's progress in the coming year."

£4.9m Strategic Investment by JCB in ITM Power

I reckon that this might be the year of the fuel cell !.....ITM and AFC making big strides !...

Time this went up a bit as well.....

Up a touch....more to come....come on you fuelcell heads (use to be petrolheads)...times change....or to put it in Dylan's words : "the times they are a changin'....

Odd - IG showing these as suspended and making a mess of my account!

RNS now appeared - Suspension - ITM Power Plc

TEMPORARY SUSPENSION OF TRADING ON AIM

ITM POWER PLC

At the request of the company trading on AIM for the under-mentioned securities has been temporarily suspended from 27/03/2015 4:03pm, pending an announcement.

Posted in full! :-)

£2.89m Award for Two London Refuelling Stations

Siting Collaboration with Major Global Fuel Retailer

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has been awarded a total of £2.89m by the Hydrogen Refuelling Stations (HRS) Infrastructure Grants Scheme, run by the Office of Low Emission Vehicles (OLEV). The award is to build two new HRS in London, sited with strategic partners and for the upgrading of four existing ITM Power refuelling stations.

New London Refuelling Stations:
£1.89m has been awarded to ITM Power and its partners to invest in two new HRS in London at strategic locations suitable for Fuel Cell Electric Vehicle (FCEV) roll-out. Both HRS will incorporate on-site hydrogen generation using the Company's PEM HGas electrolyser platform. ITM Power will be working closely with OEM FCEV providers to determine the best locations for siting. The project also benefits from additional financial support of £1.7m which is being contributed by the Fuel Cell and Hydrogen Joint Undertaking (FCH JU) to provide support for the operation of these stations in the early years. This support is in its final stages of negotiation.

One of the new stations will be built on the forecourt of a major global fuel retailer. ITM Power has recently signed a Memorandum of Understanding (MoU) with the retailer to build initially up to three HRS in London and will be seeking funding support for at least one more station. The MoU also allows for further development of the collaboration in the UK.

Refuelling Station Upgrades
ITM Power has also been awarded £1m for upgrades to four existing HRS. This includes the three in London under development as part of the HyFive project and one in Rotherham, just off the M1 at junction 33. The latter will be upgraded from 350 to 700 bar refuelling capability. This strategic refuelling location will allow FCEV users to travel between London and the North of England.

The OLEV HRS Infrastructure Grants Scheme
The strategic rationale for the funding from OLEV was established by the UKH2Mobility project of which ITM Power was a founder member. The project envisages 65 stations being deployed in the UK by 2020. The stations installed by ITM Power and the other station investors under this OLEV programme are the first to be deployed under that strategy. ITM Power looks forward to working with partners from the fuel cell vehicle manufacturers and local, national and European funding partners in the coming years to deploy further stations and achieving the agreed 2020 goal. In so doing, ITM Power will be playing a key role in making the UK an attractive launch market for fuel cell vehicles.

This award comes from the first stage in the rollout of HRS resulting from the UKH2Mobility initiative. The scheme was recently announced by OLEV with £7.5m total funding - £2m available for FCEV, £2m for HRS upgrades and £3.5m for new HRS.

M1 J33 Sheffield Station Update
The ITM Power led Island Hydrogen project, formerly known as EcoIsland and supported by Innovate UK, the UK's innovation agency, has built and is commissioning a 350 bar HRS. The HRS will be located at the Hydrogen Mini Grid at the Advanced Manufacturing Park in Rotherham. The site is off the M1 close to the junction with the M18 and will be an important part of the UK hydrogen infrastructure roll out. Planning permission for the site has been granted, ground works have been completed and commissioning of the plant is progressing well. The HRS will open to hydrogen vehicle users in Q2 2015.

This project represents the first deployment in the UK of the Company's standardised HGas180 platform, capable of generating 80kg of hydrogen per day. The first such unit was recently deployed for a Power-to-Gas application in Germany, operated by RWE. Three identical units are now under construction for deployment in London as part of the HyFive project. The Company now has a number of repeat builds of its standard products allowing several manufacturing efficiencies to be achieved. The HGas180 is the template for further refuelling station deployments in both the UK and the US.

HyFive, UK
Hydrogen for Innovative Vehicles (HyFive) is an ambitious European project funded by the FCH JU under the EU Framework 7 programme, and includes 15 partners who will deploy 110 FCEVs manufactured by five global automotive companies across three European cluster locations. As part of the project, ITM Power is providing three new hydrogen refuelling stations to London for deployment in summer 2015. Each will include both on-site electrolyser systems and 700 bar refuelling capacity. Siting activities have been ongoing both for HyFive refuelling equipment and for potential additional roll out programmes. The three ITM Power HyFive HRS currently being built will also benefit from new telecoms and security equipment. ITM Power has gained planning permission for the first two HyFive HRS, the first of which will be located within quarter of a mile of the A313 and the second within a quarter of a mile of the A40. Ground works are underway at the first HyFive site. The HyFive HRS will open to hydrogen vehicle users in Q3 2015.

HRS Manufacturing
The electrolyser build programme will proceed in parallel with functional and compliance testing due to take place in Q2 of 2015 ahead of commissioning in Q3 of 2015. The build programme will benefit from ITM Power's expanded testing facilities which enable multiple units to undergo factory acceptance testing simultaneously.

FCEV roll out in the UK
The first Hyundai ix35 FCEVs, funded under the HyFive London Cluster, are now deployed in the UK with further roll out expected as the infrastructure provision develops. Toyota has launched the Mirai FCEV and will begin to sell this in Europe in mid-2015.

Dr Graham Cooley, CEO, ITM Power, commented: "The funding for these new refuelling stations in London, coupled with partnering a major global fuel retailer are both important steps in the roll out of Hydrogen mobility in the UK. By the beginning of 2016 ITM Power will own and operate six HRS in the UK, centred on London"

Wow !...haven't read through it yet ...but looks good Skinny....together with AFC : two to be in....more and more convinced this is going to be their year...

.

RESTORATION OF TRADING ON AIM

Worth a read :- Breakthrough in hydrogen-powered cars may spell end for petrol stations

All trades are blue on here as well....all three of them....

I reckon....this is going to follow in the AFC wake shortly.....but probably needs a catalyst(sigh)....in the form of a positive update to trigger a subsequent rise....things are starting to take shape here if you read the latest rns......

There have been 101 positive updates over the last couple of years, and yet the SP has gone nowhere! Such a frustrating share to be in....

AFC was the same ....perhaps not quite so many rns's....but this year some big advances are being made...

Still think this is about to take off sooner or later.......

0.5MW Electrolyser Sale to EMEC

0.5MW Electrolyser Sale to EMEC
Integrated Hydrogen System for Tidal Energy Storage

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has won a competitive tender to supply an integrated hydrogen system for use at the European Marine Energy Centre (EMEC) tidal test site on Eday, Orkney, Scotland. The system's principal component is a 0.5MW polymer electrolyte membrane (PEM) electrolyser with integrated compression and up to 500 kg of storage. We have also offered an additional maintenance contract alongside the integrated system as well as a fuel cell for local back up power. The total contracted value of the project is £1.79m.

Including this project, the Company currently has £9.97m of projects under contract and a further £5.79m of contracts in final stages of negotiation.

The 0.5MW electrolyser will be used to absorb excess power generated by the tidal turbines testing at EMEC. The hydrogen gas generated will be compressed and stored, with some of the gas being used in (an optional) hydrogen fuel cell to provide backup power to critical EMEC systems. The remainder of the hydrogen gas will be used off-site by a further project being developed separately which plans to absorb output of a local community wind turbine operated by Eday Renewable Energy Ltd.

Subject to contract ITM will supply, integrate, commission and maintain all parts of this system. The electrolyser will be packaged in a standard 20' and 10' ISO container and is summarised below:
• Hydrogen generation capacity up to 220kg/24hours
• Self-pressurisation up to 20 bar
• Rapid response
• Hydrogen purity satisfying ISO 14687
• CE compliant

Neil Kermode, Managing Director, EMEC, commented: "We are really excited about the deployment of ITM Power's PEM electrolyser system on Eday. This is an innovative way to tackle the shortcomings of the local grid which is holding back marine energy in Orkney. It will allow us to not only pilot the production of hydrogen fuel from tidal energy, but will allow surplus renewable energy on the island to be used without having to rely upon the inadequate grid. We really see this as the moment we begin to break away from the shackles of a 20th century cable architecture."

Dr Graham Cooley, CEO, ITM Power, commented: "We are delighted with this sale and to be working with EMEC on the Orkney Islands. ITM Power's PEM Electrolysers are perfect for island deployment given the logistics of power distribution and fuel supply and this application by EMEC is a fantastic example as to how the rapid response functionality of ITM's systems offer freedom from the grid constraints of distributed and remote renewable energy"

Appointment of Non-Executive Director

StockMarketWire.com
ITM Power expects results for the year to the end of April to be in line with projections at a pre-tax level.

The company says it currently has £12.91m of projects under contract and a further £2.80m of contracts in the final stages of negotiation. This reflects the successful conclusion of a number of negotiations. In March, the company received £4.9m as a strategic investment from JCB.

An update says: "As the company builds up more operating experience, project timetables will be forecast with greater clarity, which, in turn, will result in revenue forecasts becoming more accurate. ITM Power's key strategic goal is to become cash flow positive in the shortest period possible and the Company has successfully prevented the cost base materially increasing despite revenues rising significantly over the last two years."

ITM Power says it has a rapidly developing pipeline of qualified quotes for its two principal products. These larger scale platforms are becoming the most prevalent source of income and also make up the bulk of enquiries the Company is now receiving.

Chief executive Graham Cooley said: "Customer engagement with our energy storage and grid balancing products and with our hydrogen refuellers is at an all-time high. The project and quotation pipeline as a result has been steadily growing in both applications. ITM Power enjoys a strong foothold in Germany with its PEM Power-to-Gas technology and is building a valuable portfolio of refuelling stations in the UK centred on London, which will provide strong commercial experience in the manufacture, deployment and operation of Hydrogen Refuelling Stations."

Analysis from Zeus Capital about ITM Power, discussing the company's positive trend: click here

Analyst interview on ITM Power by Zeus Capital, listen here.

RWE power to gas plant launched !.....interesting....will the sp take off AFC wise ?....hope so...fingers crossed....

RWE Plant launched & Thuga plant enters German balancing market: listen to the CEO speaking here.

ITM Power's announcement of a forecourt agreement with Shell has got the share price moving higher! -

See more at: http://tinyurl.com/ovw3lp9

ITM has great technology thanks to Highgate and good product development GC can be credited with.
But we do not have the sales, marketing , finance teams to match.

StockMarketWire.com
ITM Power, the energy storage and clean fuel company, is pleased to note London Mayor Boris Johnson's announcement today that the capital will take delivery of a fleet of Toyota Mirai fuel cell electric vehicles.

London has been named by Toyota as a key city for the early adoption of hydrogen vehicles.

ITM Power has signed a fuel contract, selling hydrogen at £10/kg, with Hyundai Motor UK, for refueling its iX35 Fuel Cell Vehicle fleet. The contract covers fuel dispensed across ITM Power's hydrogen refuelling network. The refuelling network has been financially supported by Innovate UK, OLEV and FCH JU.

This is the fifth fuel supply contract ITM Power has signed and Hyundai joins Toyota, Commercial Group, Arcola Energy and Arval as fuel customers.

ITM Power currently has £16.85m of projects under contract and a further £4.15m of contracts in the final stages of negotiation, making a total of £21m, subject to exchange rate variation.

more cash, to pay off debt, most likely wait & see strategy for me 15p = my entry level due to poor NAV even then no profit till 2025 BB

Hyundai ix35 Fuel Cell long-term test: the limitations of hydrogen fuel cells

Re Government Air Quality Plan, Pipeline Increase

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to note the planned publication by the UK Government of a revised Air Quality Plan, under which, according to media reports, it is proposed to ban the sale of petrol and diesel passenger cars (including hybrids) by 2040.

The new UK Government Air Quality Plan that bans all new non-zero emission passenger cars by 2040 represents an historic first step towards cleaner and greener transport in the UK.

ITM Power calls on the UK Government to provide equivalent financial support for fuel cell electric vehicles (FCEV) infrastructure as it has already provided for plug-in battery electric vehicle (BEV) infrastructure. Equivalent funding would satisfy the UK Government's stated position of being technology agnostic. The Company also calls on the Government to implement its announced plan to provide 65 hydrogen refuelling stations across the UK, to be operational by 2020. Current proposed levels of funding for hydrogen infrastructure would not achieve OLEV's stated target.

Significant pipeline increase, £6.57m in the last two weeks
Separately, ITM Power announces a significant increase in its order pipeline. The Company currently has £23.45m of projects under contract and £11.89m of contracts in the final stages of negotiation, totalling £35.34m (subject to exchange rate variation). This constitutes an increase of £6.57m of contracts in the final stages of negotiation since the last announcement on 11 July 2017.

Launch of Large Scale HRS, Pipeline Increase

20 Tonne/day Hydrogen Refuelling Station designs to be launched in Las Vegas
Contract Pipeline Exceeds £40m (US$53m)

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it will be launching a series of large scale refuelling station designs at Hydrogen + Fuel Cells North America, part of the SolarPower International Conference in Las Vegas.

The large scale refuelling station designs are based around electrolyser configurations of up to 50MW in size with the capability to produce up to 20 tonnes of hydrogen per day. This is in response to industry demand for larger scale industrial installations for refuelling heavy logistics vehicles, such as road haulage vehicles, ships and trains.

Separately, ITM Power announces a significant increase in its order pipeline of £4.87m, which has been added over the last two weeks. The Company currently has £23.54m of projects under contract and £16.67m of contracts in the final stages of negotiation, totalling £40.21m (subject to exchange rate variation).

ITM Power CEO, Dr. Graham Cooley, said: "These new refuelling station designs are being launched in response to a dramatic increase in the number of enquiries for refuelling heavy logistics vehicles at large scale as the viability of hydrogen power continues to gather scale and momentum across a growing number of industrial applications. ITM Power is delighted to be in a prime position to support these important transportation sectors as they plan their transition to a greener vehicle fleet to reduce emissions. Air quality and fossil fuel emissions is now a high priority for governments worldwide."

Align Research Conviction Buy 24.63 - 43.80 Initiates/Starts

Good volume today so far - looking a bit over bought!

Notice of Results

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces that it will publish preliminary final results for the year to 30 April 2017 on Friday 25 August 2017.

Anglo American swims against the current in backing fuel cells

Tempus mention

Yesterday ITM was recommended as a buy in The Times

Looking very over bought!

Final Results

ITM Power (AIM:ITM), the energy storage and clean fuel Group, announces preliminary results for the year ended 30 April 2017. The Group currently has £17.8m under contract and a further £17.6m in the final stages of negotiation, constituting a total pipeline of £35.5m having recognised £6.3m of income in H2 2017.

Commercial
Clean Fuel
· Launched first London Hyfive refuelling station at the National Physical Laboratory, Teddington, London
· Opened first hydrogen refuelling station with Shell in the UK and obtained planning permission for three other Shell stations
· £3.5m contract won to deploy a 3MW electrolyser system in the year ending 30 April 2018

Power-to-Gas
· Contracted the £1.1m sale of 0.5MW electrolyser to National Grid under the HyDeploy project for build in FY2019
· €1.5m sales contract to HDF, a multi-MW electricity storage solutions provider, ITM's first sale in France
· €0.7m electrolyser sale to global speciality gas Group by competitive tender

Renewable Chemistry
· £1.6m sale of a 1.25MW electrolyser to a major Engineering Procurement & Construction ("EPC") Group

Since Year End
· A further £4.1m of products under contract secured since year end (31 July 2016: £1.4m)-
· A further £12.3m of grant contracts entered into final stages of negotiation (31 July 2016: £0.5m)

Financial
· Total Revenue & Grant Funding of £9.2m (2016: £8.2m) up 13%, comprising:
o Revenue - £2.4m (2016: £1.9m) up 25%
o Grant income - £4.2m (2016: £3.2m) up 30%
o Grants receivable for capital projects - £2.7m (2016: £3.1m), down 14%
· Increase in property, plant and equipment net book value of £4.6m from £3.0m, up 53%
· Loss from operations £3.6m (2016: £4.4m), down 18%
· Cash balances of £3.0m (2016: £3.3m), down 10%; comprising
o £1.6m available cash (2016: £1.1m)
o £1.5m restricted cash on guarantee (2016: £2.1m)
· Development costs of £0.15m capitalised in the year (2016: £0.25)
· A material uncertainty exists around going concern as the Group remains in a growth phase. Recognising the current need to manage working capital carefully and efficiently, ITM Power continues to structure quotes to include upfront payment with orders so that working capital is not impacted adversely by increased activity.

Technical
· Winner of the Rushlight award for improvement of the manufacturing process
· New Control room established in Sheffield
· Development of an autonomous test facility for ultra-high current density (cost reduction)

Corporate
· Appointment of new Managing Director of ITM Power GmbH, Calum McConnell
· £5.7m gross funding round secured in January 2017 for working capital to service existing pipeline
· Appointment of Investec Bank plc as Nominated advisor and sole broker
· Exhibited at All-Energy, the UK's largest renewable energy event, Glasgow, 10 & 11 May 2017
· Staff numbers increased by 4 full-time equivalents (currently the Group has 72 staff)
· Development work is tightly focused on increasing electrolyser scale, improving performance and cost reduction

The annual general meeting shall be held on Wednesday 18 October 2017 at 11:00 at 1 Cornhill, London EC3V 3ND.

Graham Cooley, CEO, commented, "This is a very exciting time for the energy industry, and ITM Power is at the forefront of a market which will revolutionise air quality and energy storage for future generations. As evidenced by the significant growth in our pipeline, momentum in the hydrogen sector is continuing to gather pace. Our market is growing rapidly and with larger systems, compliant to operate all over the world, ITM Power is in a great position to be a market leader."

Roger Putnam, Chairman, added, "ITM Power continues to develop a burgeoning pipeline of exciting projects that demonstrate that there is a large and growing market for electrolyser technology. Our focus remains ensuring that ITM Power is optimally positioned to deliver its growing pipeline of established high efficiency products into those markets. I would like to thank the staff this year for their continued hard work as the Group takes its next steps as a leading technology supplier."

Nice little rise this week

Yes...doing remarkably well...wish I could say the same for AFC....

By gum it's times like these you kick yourself you didn't buy more earlier .

..

Powering upwards....superb rise !....

At last . Been waiting for this for quite a while now .
Is going to continue ?

Been waiting for this for quite a while.
Will it continue. !?

It might spike but there is a lot of buying at the moment keeping it going......it's real guesswork nowadays !...surprising that AFC is hardly moving at all and ITM is rocketing......I think if you mention hydrogen and US gas/petrol stations and a big gun (Shell) : that sends your sp skywards...AFC take note !....

Bubble burst...had to happen I presume......specially as others in the sector haven't moved much.....

Well you do wonder who or how it burst , because more buys than sells looking at it , you would have thought a mass sell off but no .

It doesn't work always that way.....if you take an average with the graphs....it's one hell of a rise : spikes like this are tricky to play...where's the top....?.....and unfortunately not all the buys and sells are indicated let alone shorts,.. longs...and all the broker to broker deals regardless of what the brokers say...also rumours and behind the scene deals that the average punter like ourselves are the last to get to know are not taken into account.....I go by the market cap and what others are valued at in comparison.....example : ITM are close to 150 million...monies in bank....not a lot....but quite a few deals going on..masses of potential....but then again this has been said for the last decade....what to do ?...no idea...!....you tell me....

I bet shorters have kicked in now.....

An update on 402 - the price had got ahead of itself.

Consolidation needed!

Well i sold at about 45 ish , normally i stick and stick but can i buy in lower , if not go somewhere else maybe .

Not sure what to make of this one.....sharp rebound....but will it last..?...can't help but reckon a fund raising exercise is on the way ...possibly diluting total number shares yet again....god knows how many times it has been done now....

I have a feeling if there isn't a flow of good news forthcoming as we have had , they will drift down , i sold at a profit at least even a few hours early . Normally i would just hold .

Tidal energy site in Orkney in hydrogen 'first'

Renewable Energy Magazine

Sale of 1.1MW Power-to-Gas Plant to EnergyStock

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that EnergyStock, a subsidiary of Gasunie, the Dutch gas transmission network operator, has purchased an ITM Power 1.1MW rapid-response PEM electrolyser. The sale was won in a competitive tender process and includes an after-sales support contract. The electrolyser will be located at EnergyStock's Zuidwending salt cavern storage facility in northern Netherlands, and the generated hydrogen will be either used on-site within EnergyStock's systems, or dispensed into tube trailers for supply to future hydrogen refuelling stations. Power will be delivered to the equipment via TenneT's high voltage electricity network.


ITM Power CEO, Dr. Graham Cooley, said: "We are delighted to be working with EnergyStock in the rapidly developing Power-to-Gas energy storage market. Power-to-Gas is the lowest cost long duration energy storage technique known. Power-to-Gas Energy Storage is joined up energy systems thinking - it exploits the virtues of an existing asset (the gas grid) to decarbonise both electricity and gas networks. Using excess renewable power to provide renewable heat combines two problems into one elegant solution."

I am beginning to like this share 😃

WOW 62 million new shares at 40 p.

I would like a few more of these tucked under my belt 😃

It could be good as it shows they are gearing up for the future . Probably buy back in soon .

Can't say I'm impressed !......always the same story with these companies...I knew a fundraising was coming....what I'd like to see is how much profit is to be forecasted and when.....another massive dilution...WOW is not my reaction...more like...oh no.....

At least they will keep their heads above water.....

Yes i agree , but it's actually over 72 million shares as there's an open offer as well , quite surprised it's up over 10% but i'm sure some will sell a few later .

23 for 1....a bit mean I would say....market has responded favourably it seems....for the moment....though like AFC...I fear profits are years away.....

Circular and Investor Presentation

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to confirm that the Circular to Shareholders in respect of the proposed Firm Placing and Open Offer announced on Friday 29 September was posted to shareholders yesterday. The Circular contains a notice of an Extraordinary General Meeting of the Company setting out the resolutions necessary for approval of the Firm Placing and Open Offer.

The Extraordinary General Meeting is to be held at 11.15 a.m. on 18 October 2017, or as soon thereafter as the AGM convened for 11.00 a.m. on that day has concluded, at the offices of Tavistock Communications, 1 Cornhill, London EC3V 3ND.

Copies of the Circular and the Investor Presentation are now available on the ITM Power website at: http://www.itm-power.com/investors/aim-info

RSI & MACD back on the ascendancy.

Result of General Meeting, Open Offer And Total Voting Rights

On 29 September, ITM Power (AIM: ITM), the energy storage and clean fuel company, announced the Firm Placing to raise approximately £25.0m (before expenses) and Open Offer to raise up to £4.4m (before expenses). The Firm Placing and Open Offer was subject, inter alia, to the approval by Shareholders of the Resolutions set out in the Notice of General Meeting.

The Company is pleased to announce that all of the Resolutions were duly passed at the General Meeting held earlier today.

The Placing remains conditional on, inter alia, Admission taking place on 19 October 2017 (or such later time as the Company and Investec may agree, being not later than 31 October 2017).

Result of Open Offer

The Open Offer closed for acceptances at 11.00 a.m. on 17 October 2017 in accordance with its terms and was oversubscribed. The Company therefore announces that is has received valid acceptances in respect of 10,896,225 New Ordinary Shares pursuant to Qualifying Shareholders' Open Offer Entitlements representing a percentage take up of 100 per cent. of the new Ordinary Shares available under the Open Offer. Accordingly, the aggregate amount raised pursuant to the Open Offer is approximately £4.4 million and the aggregate amount raised pursuant to the Firm Placing and Open Offer is approximately £29.4 million.

Application has been made for the 73,396,225 New Ordinary Shares to be issued pursuant to the Firm Placing and Open Offer to be admitted to trading on AIM. It is expected that Admission and dealings in the 73,396,225 New Ordinary Shares will commence at 8.00 a.m. on 19 October 2017.

Upon Admission, the Enlarged Share Capital is expected to comprise 324,009,401 Ordinary Shares with one voting right per share. The Company does not hold any shares in treasury. Therefore, this figure of 324,009,401 Ordinary Shares may be used by Shareholders following Admission as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change in their interest in, the share capital of ITM Power under the FCA's Disclosure Guidance and Transparency Rules.

Capitalised terms not otherwise defined in the text of this announcement have the meanings given in the Company's announcement dated 29 September 2017 in relation to the launch of the Firm Placing and Open Offer.

Directorate Change

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces that Peter Hargreaves, a Non-executive director since 2003, has notified the Company of his intention to step down from the Board with effect from 31 October.

more.....

Hydrogen heads roll but investors spot hope on horizon

sulomo - 30 Oct 2017 - 06:32 - 24284 of 24294 - 2
Here's the relevant bit from yesterday's Financial Times...

But there are more hopeful signs for the hydro-heads elsewhere. Sheffield-based ITM Power has been quietly building a global market in hydrogen technology, making electrolysers that convert electricity to hydrogen. The gas can then be used in fuel cells to power vehicles. It isinstalling filling stations in the UK withShell.

While carmakers have been slower to produce hydrogen models than electric ones, bus companies and even hauliers, which return to a fixed point, are beginning to embrace it. Compared with electric motors, the range is better and refuelling — around six minutes — quicker, says Graham Cooley, chief executive of ITM.

Electrolysers reduce the climate impact of making the gas. Creating a ton of hydrogen by traditional methods creates 12-16 tonnes of carbon dioxide. Using renewable electricity cuts that to zero. But the bigger prize is the decarbonisation of oil refineries and the chemical industry. They have to “crack†oil to release its useful parts, which takes huge amounts of energy and hydrogen.

ITM last month agreed with Shell to install a 10MW electrolyser — the world’s biggest of its type — at a German refinery. It would need 1,000MW to produce the 180,000 tonnes of hydrogen used annually by the plant in the Rhineland.

“Adoption is coming fast now,†says Mr Cooley, who points to a £37m order pipeline, more than half from overseas. “The numbers show the uptake in the market. I have no doubt we are on the cusp of a complete energy transformation.†Some investors appear to be converted. In October, ITM raised £29.4m, with some institutions which had sold their holdings in the past rejoining the register. “This is not development capital any more. It is working capital for expansion,†says Mr Cooley.

Birmingham City Council Approves £13.4m Pilot Scheme for 20 hydrogen-fueled buses

Trading Update

Trading and Operations Update
Deal pipeline increased by £5.9m in the past two months

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces an update on trading and operations for the period since the announcement of its successful placing and open offer on 29 September 2017. The Company maintains its focus on increasing commercial sales and currently has £20.2m of projects under contract and a further £22.4m of contracts in the final stages of negotiation. The total of £42.6m is an increase of £5.9m in the two months since the placing and open offer announcement.

Products in Build
ITM Power continues to process its current order book. Today, the Company has 12 units within its manufacturing facility in Sheffield which are either in build, undergoing factory acceptance testing or ready for shipment. An additional five units are being commissioned in the field ahead of coming online. Altogether, these 17 units constitute over 5MW of installed capacity. The production plan starting in 2018 already exceeds 15MW of capacity.

In line with the Company's growth strategy and manufacturing plans, the order backlog and opportunity pipeline demonstrates a clear trend towards bigger unit sizes and larger scale industrial applications. The backlog is also reflective of the Company's focus on commercial sales and shift away from its previous reliance on grant income. In order to accommodate the increased numbers and size of units in production, Heads of Terms are being negotiated for a relocation to a larger facility which will accommodate all functions of the Company.

Power-to-Gas; Energy Storage
The National Grid HyDeploy project is well underway and excellent progress has been made across the programme. The HyDeploy project seeks to address a key issue for the UK, namely how to reduce the carbon footprint as a result of heating homes. The UK has a world class gas grid delivering heat conveniently and safely to over 83% of homes. Emissions could be reduced by lowering the carbon content of gas through blending with hydrogen. HyDeploy is a Network Innovation Competition (NIC) funded project which aims to establish the level of hydrogen that can be safely blended with natural gas for transport and use in the UK gas network.

ITM Power has started work examining the potential deployment of large-scale Power-to-Gas energy storage within the boundaries of the Northern Gas Networks gas distribution system. The work, funded by the Department for Business, Energy and Industrial Strategy (BEIS) as part of the Energy Storage Feasibility Study Competition launched in January 2017, will be completed in Q1 2018.

BEIS is also undertaking a £25 million project to explore the potential use of hydrogen gas for heating UK homes and businesses. The project will run from 2017 to 2021 and will aim to define a hydrogen quality standard, and to explore, develop and test domestic and commercial hydrogen appliances.

Hydrogen Refuelling Station (HRS) Deployment
ITM Power has a total HRS portfolio today of 12 funded refuelling stations which it owns. Five stations are open to the public: Riverside (US), AMP (Rotherham), NPL (London), CEME (London) and Cobham (London). A further five HRS are in construction: Birmingham (bus HRS), Orkney (Kirkwall), Beaconsfield (Shell forecourt), Gatwick (Shell forecourt) and Swindon. A further two HRS also have Fuel Cells and Hydrogen Joint Undertaking (FCH JU) funding under the H2ME2 scheme. The UK refuelling network has been financially supported by Innovate UK, Office for Low Emission Vehicles (OLEV) and the FCH JU.

Planning permission has been granted for car and bus HRS at 19 sites in total with 14 different planning departments across the UK. Business development activities in the clean fuel area are now focussed on return-to-base commercial vehicles including buses, trains, trucks and shipping. ITM Power has entered into 17 hydrogen fuel supply contracts for refuelling fuel cell electric vehicles: Honda, Toyota GB PLC, Hyundai Motor UK Ltd, Commercial Group, Skanska, UlemCo Ltd, Arval UK Ltd, UK Government Car Service, Arcola Energy, Johnson Matthey, Europcar, The Science Museum, JCB, Anglo American, Green Tomato Cars, Yorkshire Ambulance Service and Northern Gas Networks.

Industry Developments:
On 13 November the Hydrogen Council published a first-of-a kind study detailing hydrogen's potential to be a key pillar of the energy transition. The study concluded that when deployed at scale, hydrogen could account for almost one-fifth of total final energy consumed by 2050. This would reduce annual CO2 emissions by roughly six gigatons compared to today's levels, and contribute roughly 20% of the abatement required to limit global warming to two degrees Celsius.

Marketing
The Company's marketing efforts have been focused on engagement with multi-national companies which operate within the energy and transport sectors. In addition, increasingly by invitation, ITM Power attends and presents at many industry specific trade fairs and conferences in the UK, mainland Europe and the United States. A regularly updated list of all the events the company will be attending can be found at http://www.itm-power.com/news-media/events

Graham Cooley, CEO, commented, "Our strong pipeline growth reflects the hydrogen and energy storage markets' rapid growth worldwide and ITM's focus on commercial sales. We have larger systems, compliant to operate all over the world, placing ITM Power in a great market position. This is a very exciting time for the energy industry, and ITM Power is at the forefront of a market which will revolutionise air quality and energy storage for future generations."

It's a great update , but whenever I've seen a program about renewable clean energy , not once did anyone mention Hydrogen , usual wind etc , so someone needs to get promoting it .

Half Year Results for the Period ended 31 October 2017

Significant commercial progress, financial position strengthened by £29.4m working capital fundraise

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces its half year results for the six month period ended 31 October 2017. Comparable figures, where stated, refer to the corresponding period in 2016 unless otherwise indicated.

Commercial Progress:

· As at today, £27.0m (£17.0m) of projects under contract and a further £10.4m (Jan-2017: £1.4m) of contracts in the final stages of negotiation constituting a total backlog of £37.4m (Jan-2017: £18.3m), up 103% year on year

· Tender opportunity pipeline has grown steadily and is now over £200m, reflecting strong industrial demand

· 10MW refinery hydrogen project with Shell to build the world's largest PEM electrolyser at the Rhineland refinery, Germany

· World's first tidal-powered hydrogen generated at European Marine Energy Centre (EMEC) in Orkney

· First hydrogen bus route in the Pau region of France

· 20 tonne/day (50MW) hydrogen refuelling station designs launched in Las Vegas in September

· A new total of 20 hydrogen fuel contracts

Financial Highlights:

· Total income of £4.4m (2016: £3.0m), up 47%, comprising:

o Revenue - £1.7m (2016: £0.4m), up 325%

o Grant income plus grants receivable for capital projects - £2.7m (2016: £2.6m), up 4%

· Increase in fixed assets to £5.5m (2016: £3.8m), up 139%

· Loss from operations £2.9m (2016: £2.3m), increased by 26%

· Cash balance of £27.3m at period end (2016: £1.7m)

· Debtors balances of £12.8m (2016: £9.2m), up 39%

Operational Developments:

· New, larger factory premises identified and heads of terms agreed

· Expansion of the manufacturing and after sales support teams

· Creation of Australian subsidiary ITM Power Pty Ltd and appointment of Dr Neil Thompson as MD

Graham Cooley, CEO, commented: "The six months under review have seen significant advances in all areas of ITM Power's business. The announcement of the deployment of the worlds' largest PEM electrolyser at Shell's Rhineland refinery is a particularly important development seeing ITM Power enter the 10MW product class with a commercial product at scale. The Company's pipeline of deals has more than doubled since last year showing strong and consistent growth in both the refuelling and power-to-gas markets."

Roger Putnam, Chairman, added: "The Board is pleased with the result of the successful equity raise, which secured the working capital the Company needs to underpin the significant progress that has been achieved in growing the order pipeline of commercial sales. Our stronger financial position will help us to continue to strengthen our relationships with a number of major blue-chip companies as we progress our international business. With the establishment of our new company in Australia I welcome Neil Thompson to the development team."

£8.8m OLEV Funding for Refuelling Infrastructure

£8.8m OLEV funding to deliver the largest expansion of hydrogen refuelling infrastructure ever undertaken in the UK

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that a consortium including ITM Power, Shell, Toyota, Honda and Hyundai has won £8.8 million in funding from the Department for Transport "DfT" to improve access to an expanded network of hydrogen refuelling stations to support the continued roll out of hydrogen fuel cell electric vehicles (FCEVs) in the UK. Out of the £8.8 million total, ITM Power will receive £4.3m from the DfT to build four new hydrogen refuelling stations and to upgrade five existing hydrogen refuelling stations to increase capacity to support a larger fleet of FCEVs. The project has further funding support from the European Fuel Cells and Hydrogen Joint Undertaking (FCH JU).

Further details are provided in the Operations Update released today, and the DfT announcement is reproduced in full below:

NEW GREENER POLICE CARS TO RUN ON HYDROGEN

Police cars and taxis will be among nearly 200 new hydrogen powered vehicles switching to zero emission miles, thanks to a multimillion pound Government boost.

The zero emission vehicles are part of a project that has won £8.8 million in funding from the Department for Transport to improve access to hydrogen refuelling stations up and down the country and increase the number of hydrogen cars on our roads from this summer.

The winning project, is run by a consortium managed by Element Energy and including expertise from ITM Power, Shell, Toyota, Honda and Hyundai. It will capitalise on the reliable mileage of established fleets and see vehicles being procured by emergency services such as the Metropolitan Police, as well as Green Tomato Cars and Europcar to support the growth of refuelling infrastructure for hydrogen vehicles up and down the country.

Roads Minister, Jesse Norman said: "Decarbonising our roads is an essential part of meeting our climate targets. The innovative new technologies involved present great opportunities for our increasingly low carbon economy.

"Hydrogen has huge potential, especially for those making longer journeys and clocking up high mileage. That is what makes this project truly exciting. Not only is it demonstrating the technology in action, but it is also developing the refuelling infrastructure needed for the future."

The project helps cement the UK's place as a world-leader in adopting hydrogen technology, using not only British expertise through ITM Power, but also securing further investment from multi-national companies such as Shell, Toyota, Honda, and Hyundai.

It also means that hydrogen cars will be able to travel further around Britain than ever before, with new refuelling stations in Southwark, Isleworth, Birmingham and Derby paving the way for future expansion.

The £8.8 million grant will be matched by a further £13.1m investment including support from the companies and other sources. The project will involve the procurement of new vehicles, construction of new stations and upgrades to existing stations.

more.....

Operations Update

Contract Backlog increased to record high of £33.3m

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces an update on the backlog for the period since the announcement of its interim results on 29 January 2018.

Contract Backlog

The Company maintains its focus on increasing commercial sales and currently has £33.3m (29 January 2018: £27.0m) of projects under contract and a further £5.5m (£10.4m) of contracts in the final stages of negotiation constituting a total backlog of £38.9m (£37.4m). Since 29 January the Company has finalised contracts totalling £6.3m and increased the total backlog by £1.5m of new projects.

Further Information on the OLEV Announcement

The announcement today contains details of an OLEV funding grant for £8.8m, of which ITM Power is the hydrogen refuelling partner, and shall be the recipient of £4.3m, which will enable the deployment of four new on-site electrolysis refuelling stations. Three of the four new stations shall be deployed on Shell forecourts, at prime strategic logistical locations across the UK. Shell and ITM Power continue to extend the forecourt siting agreement first signed in September 2015 leading to additional ITM Power refuelling stations being integrated on Shell forecourts.

In addition, five further ITM Power refuelling stations are being upgraded to expand their capacity and to facilitate the enlarged fleet of hydrogen fuel cell electric vehicles (FCEVs). These stations will support an additional 200 extra FCEVs also announced and being deployed as part of the project. The 200 vehicle users have been selected as heavy duty cycle vehicles, such as the MET Police.

ITM Power shall own and operate all of the hydrogen refuelling stations as part of the project. This will bring ITM Power's owned and operated public refuelling stations in the UK to a total of 11. ITM Power shall continue to sell hydrogen for £10/kg plus VAT. A typical Fuel Cell Electric Car can hold 5kg of hydrogen providing an estimated range of between 300 and 450 miles.

New Manufacturing Facility

Since the last update on 29 January 2018, significant progress has been made towards establishing the Company's new factory site. Led by ITM Power's Engineering Director, planning of the site has included modelling production flow and manufacturing capacity up to 300MW per annum. The facility will include a 7MW power supply with a 10kV high voltage connection to enable the testing of significantly larger electrolyser modules on site, and represents a significant increase on the power supply at the current factory of 1MW. Together with a configurable shop floor to make both standard and bespoke products, the enlarged footprint will also incorporate the technology centre and a large demonstration area to host potential clients and industry events.

At this time, the factory layout has been finalised, tenders have been received from candidate principal contractors and shortlisted. Detailed plans have been submitted to the landlord for approval and Heads of Terms have been agreed, with the contract expected to be signed by the end of Q2 2018. A designated project manager has been appointed by ITM Power to oversee the execution phase of the project.

ITM Power is pleased to have secured £0.4m of financial support for the upgrade of the site from Sheffield City Region, aligned with job growth in the Company over the next three years.

Dr Graham Cooley, CEO, ITM Power commented "We are delighted to extend our siting agreement with Shell for the purpose of the rollout of the next phase of refuelling stations that ITM Power shall own and operate. Adding 200 new FCEVs to the UK roads represents a significant boost to the current fleet on UK roads, and is a significant step in accelerating and co-ordinating the roll out both FCEVs and hydrogen refuelling stations. Our contracted order book, at its highest ever, demonstrates a consolidation of a period of high growth. We are also delighted to have finalised heads of terms and received the grant from the city region, showing our growth as being in line with their strategy."

New Shell Fuelling Station Opened at Beaconsfield

ITM Power (AIM: ITM), the energy storage and clean fuel company, notes the announcement by Shell that the hydrogen refuelling station - the first 'under the canopy' in the UK - at Beaconsfield Services on the M40 has opened today. This new hydrogen refuelling station, situated at one of the busiest service stations in the UK, will be fully owned and operated by ITM Power. The text of the announcement by Shell is set out below:

SHELL AND ITM POWER BOOST UK HYDROGEN INFRASTRUCTURE WITH NEW FUELLING STATION AT BEACONSFIELD

Beaconsfield site is UK's first 'under the canopy' Hydrogen refuelling station

LONDON, UK, 27 March 2018 - Today, Shell has announced the opening of a new hydrogen refuelling station at Shell Beaconsfield in Buckinghamshire. Supplied by ITM Power, this opening follows the launch of the first fully branded and public hydrogen refuelling site in the UK at Shell Cobham in February 2017.

Situated at one of the UK's busiest service stations, Shell Beaconsfield on the M40 will be the first site in the UK to bring hydrogen under the same canopy as petrol and diesel, providing drivers with a range of fuel choices to co-exist with traditional transport fuels. The hydrogen is generated on-site using an electrolyser that requires only water and electricity to generate the hydrogen gas.

Hydrogen fuel cell electric vehicles convert hydrogen into electricity to power the engine and produce only heat and water when driven. They can travel up to 700 kilometres on a single tank and can be refuelled in a few minutes.


Mike Copson, Hydrogen Business Development Manager at Shell, said: "We're delighted to be opening a new refuelling site at Shell Beaconsfield, demonstrating our ongoing commitment to hydrogen as a vital part of the UK's future transport system. Bringing hydrogen under the canopy for the first time is a fantastic step towards making it a convenient and viable fuel choice for UK drivers."

The hydrogen station at Beaconsfield is the fifth hydrogen refuelling site in the UK to be supplied by ITM Power and will be the first to be opened as part of the H2ME project. The initiative has been partially funded by the European Fuel Cells and Hydrogen Joint Undertaking (FCH JU), and the UK's Office of Low Emission Vehicles (OLEV).

Dr. Graham Cooley, CEO of ITM Power, said: "ITM Power is pleased to open this new hydrogen station in Beaconsfield which is the first to sit on the main forecourt, alongside the petrol and diesel pumps. This shows a big step forward in offering Shell customers a clean, green fuel, which is generated on-site, eliminating fuel deliveries. We look forward to working alongside Shell to deploy further stations and grow the hydrogen refuelling infrastructure in the UK."

FCH JU Executive Director Bart Biebuyck said: "The FCH JU is proud to see its support significantly boosting market entry of hydrogen technologies for clean mobility. The opening of this new station at the Beaconsfield forecourt proves that hydrogen is now even more the fuel of the future, and is ready to offer an everyday green solution to citizens. We need to continue building on these achievements, and enable the transition towards a low-carbon transport system."


Today's hydrogen station opening follows a number of recent Shell initiatives to support the UK's transition to low-carbon transport. These include the launch of Shell ReCharge, Shell's on-forecourt rapid electric vehicle charging service; an agreement with charging network operator IONITY to offer charge points across ten European countries; and the acquisition of NewMotion, one of Europe's largest electric vehicle charging networks.

-ends-

Study to evaluate the large scale production and use of renewable hydrogen in British Columbia and its export to Japan and California

StockMarketWire.com
Energy storage and clean fuel company ITM Power said Thursday it expected a cash loss for the year of £5.0m as costs would be higher than previously anticipated.

The company also said its pipeline of orders is expected to generate full-year total income of approximately £14.0m.

The expectations for higher costs was blamed on the cost of a plant that had been delivered in the year, fees related to recruitment and higher factory testing costs for larger scale equipment. The firm described these costs as 'largely one-off factors.'

The year-end cash position is expected at approximately £22.0m, while the working capital position is expected at approximately £8.0m.

The tender opportunity pipeline stood well in excess of £250m with a breakdown evenly spread across the three sectors of fuel, power to gas and renewable chemistry, the company said.

This is one to watch because the sp can rocket here on good contract signings......

I am watching it.....going down!

It'll come right at some stage...….

Final Results

ITM Power (AIM: ITM), the energy storage and clean fuel group, announces preliminary results for the year ended 30 April 2018, during which time activity levels significantly increased. To support this level of activity, the Company successfully raised £29.4m (gross) of working capital via a placing and open offer. The Group currently has £24.1m under contract and a further £6.5m in the final stages of negotiation, constituting a total pipeline of £30.6m having recognised £9.7m of income in H2 2018.

FINANCIAL:

· Total Revenue & Grant Funding of £14.1m (2017: £9.2m) up 53%, comprising:

o Product revenue - £3.3m (2017: £2.4m) up 36%

o Grant income recognised on the income statement - £4.1m (2017: £4.2m) down 0.5%

o Grant income recognised on the balance sheet - £6.7m (2017: £2.7m) up 152%

· Loss from operations £6.5m (2017: £3.6m) up 83%, including £0.9m of one-off items

· EBITDA loss of £4.8m (2017: £2.3m) up 109%

· Available cash balance of £20.4m at year-end (2017: £1.6m) post the December 2017 fund raise

· Net current assets excluding stock of £30.1m (2017: £7.4m)

COMMERCIAL:

Hydrogen Fuel:

· £8.8m OLEV funding as part of the delivery of the largest expansion of hydrogen refuelling station (HRS) infrastructure in the UK, of which £4.9m is granted to ITM Power

· 14 wholly owned HRS assets in ITM Power's portfolio:

o six are open to the public

o three are already under construction and due to open Q3 2018

o five further stations now fully funded and in the planning stages due to open Q2 2019

· UK Electrolyser HRS Generating Capacity to hit 3 Tonne/day, 1k Tonne/year

· Fuel contract with the Met Police and others to refuel 200 new FCEVs

· New hydrogen refuelling station opened at Shell Beaconsfield on the M40

· Hydrogen fuel contracts are now 20 in total

· Fuel sales increased to 16 tonnes for the period, up 672% which expected to grow further as more stations come on stream and fleets expand

Power-to-Gas (P2G):

· Completed large-scale P2G Deployment Study with Northern Gas

· Grant to undertake a multi-MW P2G feasibility study for the Massachusetts region

· Grant to evaluate P2G in British Columbia with BC Hydro, Chiyoda and Mitsui

Renewable Chemistry:

· 10MW refinery hydrogen project with Shell to build the world's largest PEM electrolyser at the Rhineland refinery, Germany

CORPORATE:

· New factory premises identified and heads of terms agreed, detailed space planning underway. Terms are expected to be signed in Q4 of this calendar year

· Significant investment in expansion of the manufacturing and after sales support teams

· Creation of Australian subsidiary, ITM Power Pty Ltd, and appointment of Dr Neil Thompson as MD

· Appointment of Andy Allen as Financial Director

· Working Capital Funding Round successfully raising £29.4m gross via a placing and open offer

· The Group currently has £24.1m under contract and a further £6.5m in the final stages of negotiation, constituting a total pipeline of £30.6m having recognised £9.7m of income in H2 2018

· Non-contracted tender opportunity pipeline increased to over £250m (September 2017: £200m), illustrating the growth in the hydrogen economy

SINCE YEAR END:

· Strategic Partnership Agreement with Sumitomo Corporation for product sales in Japan and other territories

Graham Cooley, CEO, commented, "This financial year has been a period of significant development for ITM Power. With revenue increasing by 53%, the Company has been focussed on the expansion of staff and the planning of the new, larger production facilities. We've also been learning how to maximise a growing portfolio of revenue generating assets in the shape of the first real hydrogen refuelling network in the UK. Finally, Power-to-Gas is now demonstrating real traction around the world and we remain very well placed to benefit from this development with our long-running reference plant in Germany."

Roger Putnam, Chairman, added, "I was delighted to report earlier in the year that ITM Power had raised £29.4m of working capital. Our plans for expansion of staff and production capacity are on track and I am delighted to note the significant increase in our top line result. As always, I would like to thank the staff for another year of hard work and enthusiastic dedication to our business ambition to help decarbonise the world's energy markets."

Results were a bit negative but there are signs of vast improvement in overall performance.....an announcement of one or two big contracts could send the sp much..much higher....fingers crossed as clean fuel is is the future !......

ITM Power Opens Seventh Hydrogen Refuelling Station at Johnson Matthey's Swindon site on M4 corridor

ITM Power (AIM: ITM), the energy storage and clean fuel company, and Johnson Matthey (LSE: JMAT), a global leader in science that enables a cleaner and healthier world, are pleased to announce the opening of ITM Power's seventh public access hydrogen refuelling station (HRS) located at Johnson Matthey, Swindon on the M4 corridor. The opening is being supported by Toyota, Hyundai and Honda who will also present and participate in a Q&A session. Attendees will also be able to experience a zero emission journey in a Fuel Cell Electric Vehicle (FCEV) Ride and Drive which will be available at the opening.

more.....

Trading Update

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to provide a trading update ahead of its AGM at 10.30am today, including progress on the Company's new factory, updates on two major ongoing projects and some key appointments.

Trading

The current financial year ending 30 April 2019 has started well and we continue to expect another year of significant financial progress for the Company. As has been the case in previous years, revenue is expected to be weighted towards the second half of the year. Underlying performance of project delivery remains on track. The Company's financial position is strong with £16.9m of cash and £1.7m of cash on guarantee. Debtors less creditors stand at £8.4m, making a total of cash and cash receivables of £27.0m.

The Group currently has £27.6m under contract and a further £6.7m in the final stages of negotiation, constituting a total pipeline of £34.3m, representing an increase of £3.7m since the full year results announced on 13 August 2018. The non-contracted tender opportunity pipeline currently stands at £200m.

New Factory

The planned move to the new 11,610 sq.m floor space factory (with grounds of 30,000 sq.m) is progressing well. The Company has designed a new manufacturing process (including introducing new automated technical processes), designed a new factory layout (to optimise product flow-through), completed all of the detailed drawings of the factory, the technology centre and the offices and applied for planning consent. The consenting process has also included a traffic survey and full environmental impact survey. Terms are expected to be signed in Q1 2019.

The new factory will be commissioned and run in parallel with the existing factory until the lease runs out at the existing Atlas Way site in 2021. The project manufacturing capacity ramp up across the old and new factories is more than adequate to support the Company's substantial projected sales growth in the ensuing three years. Product testing is currently a constraint at the old Atlas Way factory as we deliver larger products and so the power supply at the new factory will be commissioned early in the fit-out process.

The EU 10MW Refinery Project with Shell

The project is progressing well. We have established a dedicated project office and ring-fenced staff to work exclusively on this ground-breaking project. The initial design work has been completed for the planning permit application submission in Q4 2018. The Project Manager, Dr John Newton (formerly CIO at RWE npower), is working closely with Shell and their chemical process engineering sub-contractor in preparation for the detailed design phase, to ensure the plant will conform with the stringent safety and compliance requirements of a major refinery. The project team are attending regular joint technical review meetings at the refinery and will be hosting Shell and their sub-contractor partners, for similar meetings in the dedicated project office in Sheffield. The Refhyne consortium has recently produced an information video, available at: https://www.youtube.com/watch?v=tpPS62RTKd0

The Birmingham 3MW Bus Project

This is ITM Power's first project in the hugely promising hydrogen fuel bus segment and is expected to enhance our competitive advantage for additional future opportunities. The 3MW Electrolyser is built and has successfully undergone initial testing. The civil engineering works at the Tysley Energy Park are underway and will be completed in December and the refuelling station will be ready for operation in March 2019. 20 fuel cell buses are expected to be delivered in Q2 2019 to commence operation on Birmingham bus routes.

Key Appointments

We have appointed a number of senior managers recently. Nicola Ham Edmonds has been appointed as Head of Legal. Nicola has some 15 years of experience within in-house legal teams including Bombardier Transportation and the Royal Mail. Robert Crawford has been appointed as Quality and Health and Safety manager with over 20 years' experience in the electronics, aerospace, automotive, renewable energy and petrochemical sectors. Mark Theaker joins the company as Head of Procurement with experience gained at Tata Steel, Tarmac, National Grid and EDF Energy.

Dr Graham Cooley, CEO, ITM Power plc. commented: "ITM Power is in good shape - financially and operationally - and I hope this positive trading and pipeline update demonstrates this to shareholders. We are making good progress with the new factory, with the delivery of key multi megawatt reference projects and we have made a number of high-quality appointments to strengthen the team for further growth. Our business is performing well and we look forward to reporting more important new contracts in the near future."

HyDeploy: Hydrogen in the UK Gas Grid

Somebody has just bought one share in this company....steady now....anyway.....steady rise in the sp here......more to come......

Whilst the market is not doing well....: ITM are progressing...…!...

Really??? In 12 months the sp has halved!
Always the optimist rf!

At the moment : the market is dead as a dodo Harrycat....patience...the sp is only dropping because of depressed world markets....the time will come when real value shines through with hydrogen being the main way forward......ITM has quite a few exciting projects in the pipeline....read through the rns's and it looks promising !.....AFC are really disappointing but this one has enormous development potential !...Merry Christmas to you !...

Good luck with ITM......I feel you are going to need it!
Happy Christmas to you rf. I always like your input and hope it continues.

Double page in the IC about hydrogen and ITM, Ceres Power and AFC...….all you need to know......at the moment ITM looks the best bet.....if they can multiply their refuelling stations : the sp will rocket up I reckon.....

Fuelcell/Hydrogen shares rising.....this is the sector to be in this year I reckon due to progress being made in attaining profitability !....

There was a mention in IC - here - I don't have a subscription anymore.

I've been a holder/sufferer for @8 years.

And from over the road :- Hydrogen power: China backs fuel cell technology

Well here's hoping for a good recovery Skinny.....enormous potential....

Rising nicely....long may this continue....

Despite taking up the rights @40p, I'm just in the money.

Half Year Results for the Period ended 31 October 2018

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces half year results for the six month period ended 31 October 2018. Comparable figures, where stated, refer to the corresponding period in 2017 unless otherwise indicated.

Commercial Progress:

· As of today, £23.2m (£27.0m) of projects are under contract and a further £10.4m (£10.4m) are in the final stages of negotiation, making a total backlog of £33.6m (£37.4m).

· The tender opportunity pipeline has grown steadily and is now over £240m (£200m), representing 36 commercial tender responses within the last 12 months. The average project size of £6m (£3.5m) reflects strong industrial demand for larger systems.

· Hydrogen sales, with a new total of 29 (20) hydrogen fuel contracts, totalled £295k (£93k) over the last 12 months up with the strongest demand from Green Tomato Cars and the Metropolitan Police.

· The seventh ITM Power owned UK hydrogen refuelling station (HRS) opened in Swindon, next to the M4, in September 2018

· Gatwick and Derby HRSs are under construction and due to open at the end of Q1 2019.

· Civil works are underway on the Birmingham 3MW Bus Project, due to be operational in Q3 2019

· UK Government funding received for 100MW Power-to-Gas energy storage feasibility study in Cheshire.

· Green-light given for HyDeploy trial and further funding received for HyDeploy phase 2.

· Strategic partnership agreed with Sumitomo Corporation, covering Japan and Australasia, with commercial discussions continuing to progress as expected.

· The Company continues to make positive progress in Australia, with discussions with various counterparties progressing as planned.

Financial:

· Total income of £5.0m (£4.4m), comprising:

o Revenue - £1.2m (£1.7m)

o Grant income plus grants receivable for capital projects - £3.8m (£2.7m)

· As in previous years, revenue is expected to be weighted towards the second half of the year with an increased value of contracts expected.

· Loss from operations £5.3m (£2.9m), greater than originally anticipated, due to cost overruns on four 'first-of-a-kind' projects as well as significant investments made in people, resources and capacity during the period.

· Strong balance sheet: total financial assets constitute £24.9m with £15.6m of cash, £1.7m of cash on guarantee and deployed working capital (debtors less creditors) of £7.6m.

Operational Developments:

· Production and design staff materially expanded.

· New hires in Procurement, Legal, QHSE, Project Management, Manufacturing and Field Support.

· New factory manufacturing process design completed; tender processes underway.

· A dedicated team and project office established to focus on the 10MW Shell refinery project.

· Expansion of the German subsidiary team to support our European customer commitments and new German premises to hold spares and support a growing recurring maintenance income.

Graham Cooley, CEO, commented: "The six months under review have been a major transition for the company having expanded the skill base and delivered many MW scale industrial deployments. The company is highly regarded internationally and solid progress is being made on all fronts."

Roger Putnam, Chairman, added: "The Board is pleased with the significant progress that has been achieved over the last six months. Deploying increasing numbers of MW scale equipment in challenging industrial environments has certainly proved the company's credentials to many industrial partners and we look forward to a very busy second half."

Excellent update …..red will turn to blue.....

Good time to buy I think......on a not so serious note : they could include a laughing gas upgrade with a mask fitted next to the fuelling pumps....so at the same time with a normal fill you can opt for : 50p extra : you could take a sniff or two of it....would be wonders when you get back in the car and make the family get the giggles....no more problems with the kids on a trip after that....

First Four Sales in Australia

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the sale of four 250kW electrolyser systems totaling 1MW to three different customers across Australia. Further details of these projects will be released in due course.

The four deployments represent an important step in entering this significant new territory and will serve as reference plants for ITM Power technology in both the mobility and industrial hydrogen sectors in Australia. These commercial sales are of standard ITM Power products, optimised and compliant for the territory, which often requires operation in extreme thermal environments.

This is the first step towards building a critical mass of units in Australia so that the Company can optimise both commissioning, after-sales support and spares holding.

Dr Neil Thompson, MD, ITM Power Pty Ltd said: "We are delighted to have secured our first standard product sales in Australia. The roll-out of these units starts to create a critical mass to deploy after-sales support and spares, both of which create customer confidence for future tender opportunities and give ITM Power an early mover advantage in this important new market."

ITM Power CEO, Dr Graham Cooley, said: "Australia is a very exciting new market for green hydrogen production and we are pleased to be making these important deployments of reference plants for ITM Power technology. Australia holds significant growth opportunities for us and demonstrates the accelerating momentum in the hydrogen sector."