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

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".