Isle of Wight EcoIsland Partnership Agreement (6734R)

TIDMITM

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."

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

 
 ITM Power plc 
  Graham Cooley, CEO                 0114 244 5111 
 Nomura Code Securities 
  Juliet Thompson/Dr Chris Golden    020 77761200 
 Tavistock Communications 
  Simon Hudson / Andrew Dunn         020 7920 3150 
 

About EcoIsland:

The Isle of Wight's EcoIsland is the largest single sustainability project in the UK and the most successful working example of the Big Society in action - a concept launched by the Prime Minister David Cameron in July 2010. The Minister of State for the Cabinet Office, Oliver Letwin MP, responsible for Government Policy advice, will be speaking at the launch event indicating the importance of this idea to the future of Britain.

On 15 November the EcoIsland Partnership Community Interest Company (CIC) will be launched as a Global Innovation Centre for Smart Grid technology and show how, working with Global Partners IBM and Toshiba, it plans to integrate the island's future wind, tidal, geothermal and solar power. The Smart Grid initiative is one of the key ingredients in the Isle of Wight's aim to become the first truly sustainable region of the UK.

   --    Smart Grid technology set to power the island's future energy needs 
   --    Future Isle of Wight fuel bills set to reduce by up to 50% 
   --    EcoIsland project is living proof how Big Society can work in practice 

Since February 2011 EcoIsland has built a solid foundation on which to deliver a range of sustainability initiatives, including raising the first tranche of the GBP200m private funding, required to achieve its goals. Ecoisland is working alongside a number of other Partners to deliver key infrastructure objectives including;

-- Global Communications Partner Cable&Wireless linking all the home installations and renewable technologies with a combination of a wireless mesh and existing communications infrastructure.

-- National Partner SSE ( Distribution Network Operator and energy supplier ) are facilitating grid connections and leading change withinnovations including tariffs

-- National Partner ITM Power providing energy storage and clean fuel production in the form of hydrogen for commercial and private vehicles

-- National Partner Southern Water who are supporting our aims to have a zero energy footprint through the development of renewable energy

EcoIsland has already delivered:

-- A GBP25m project to install Solar Photo Voltaic Panels on 3,500 social houses and upwards of 500 air-source heat pumps

   --    A Greenback card backed by 65 local companies helping residents save up to GBP400/yr 
   --    First steps towards building the Island into a centre for green technology and innovation 
   --    Support from 70 Global, National, Founding, Local, Carbon and Knowledge Partners 

-- Evaluation of zero emission transport options including electric cars, bikes, hydrogen vans and green public transport

Future EcoIsland initiatives already underway include:

   --    The Isle of Wight becoming a net exporter of energy by 2020 

-- Reducing energy bills for the Isle of Wight's 142,000 residents by 50% through increased capture and use of solar, tidal, geothermal and wind power and a creative tariff system

-- Fueling the GREEN Economy creating jobs on the Island through green tech investment Setting up an Eco Centre and seat of learningfor visitors, UK schools and IOW residents

   --    Cutting landfill to zero and to stop waste being transported off the Island 
   --      Web address: www.eco-island.org 
   --      The Founders BLOG: www.eco-island.org/hub/blog/C51 
   --      ECOTV video content: www.eco-island.org/hub/eco-tv 
   --      Images and info on the Press section: www.eco-island.org/hub/press 

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