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

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