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

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.....