ITM Power PLC Upgrade to M1 Hydrogen Refuelling Station

TIDMITM

ITM Power PLC

22 September 2016

22 September 2016

ITM Power plc

("ITM Power" or the "Company")

Completion of Upgrade to M1 Hydrogen Refuelling Station

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the completion of the 700 bar upgrade to the M1 Rotherham hydrogen refuelling station (HRS) funded by The UK Government, Office of Low Emission Vehicles (OLEV).

On 28 March 2015 the company announced that it had been awarded a total of GBP2.89m by the HRS infrastructure Grants Scheme, run by OLEV. The award was to build two new HRS in London, sited with strategic partners and for the upgrading of four existing ITM Power refuelling stations including the M1 Rotherham HRS. The HRS, originally funded by Innovate UK, is located at the Hydrogen Mini Grid at the Advanced Manufacturing Park in Rotherham just of J33 of the M1, close to the junction with the M18. The HRS is an important strategic part of the UK hydrogen infrastructure enabling vehicles from London to access the North of England.

Using the existing electrolyser to generate hydrogen from an on-site wind turbine, the original 350 bar dispenser has been upgraded to a new BOC/Linde system capable of dispensing hydrogen at both 700 and 350 bar. The higher pressure of 700 bar satisfies the requirements of a broader range of vehicles and enables fuel cell electric vehicles such at the Toyota Mirai and Hyundai ix35 to achieve their full driving range of over 300 miles. New and existing customers will also benefit from automated payment facilities.

Following site preparation, the joint commissioning teams of ITM & BOC/Linde completed commissioning in a period of two weeks. Focus has now shifted to the Centre for Engineering and Manufacturing Excellence in Rainham, where equipment is undergoing commissioning ahead of the official opening on the 11 October.

ITM Power CEO, Dr. Graham Cooley, said: "The M1 hydrogen refuelling station is a flagship green hydrogen station which has an important strategic role serving the Northern M1 corridor. This important upgrade strengthens our developing portfolio of hydrogen refuelling infrastructure and forms an important part of the UKs hydrogen roll out."

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

 
 ITM Power plc                    [phone] 
  Graham Cooley, CEO               5111 
 Zeus Capital 
  Andrew Jones / Dan Bate         [phone] 
  / Hugh Kingsmill Moore           5000 
 Tavistock                        [phone] 
  Simon Hudson / James Collins     3150 
 

About ITM Power plc

ITM Power manufactures integrated hydrogen energy solutions which are rapid response and high pressure that meet the requirements for grid balancing and energy storage services, and for the production of clean fuel for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and is a founder member of the Social Stock Exchange. The company received GBP4.9m as a strategic investment from JCB in March 2015; signed a forecourt siting agreement with Shell in September 2015 and a fuel agreement with Toyota in October 2015. The Company currently has GBP16.00m of projects under contract and a further GBP2.08m of contracts in the final stages of negotiation constituting a total pipeline of GBP18.08m (subject to exchange rate variation).

www.itm-power.com

About OLEV

The HRS Infrastructure Grants Scheme was launched on the 2 February 2015 by the Office for Low Emission Vehicles (OLEV) to support roll out of hydrogen infrastructure networks in the UK with the specific aim of encouraging the introduction of Hydrogen Fuel Cell Electric Vehicles (FCEVs). The HRS Infrastructure Grants Scheme will provided grant funding for selected infrastructure projects seeding development of hydrogen for road transport in the UK.

About Innovate UK

Innovate UK is the UK's innovation agency; working with people, companies and partner organisations to find and drive the science and technology innovations that will grow the UK economy. The organisation works to determine which science and technology developments will drive future economic growth; meet UK innovators with great ideas in the fields we're focused on funding the strongest opportunities; connect innovators with the right partners they need to succeed help our innovators launch, build and grow successful businesses. Since 2007 we have invested over GBP1.5 billion in innovation, matched by a further GBP1.5 billion in partner and business funding. We have helped more than 5,000 innovative companies in projects estimated to add GBP7.5 billion to the UK economy and create 35,000 extra new jobs.

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This information is provided by RNS

The company news service from the London Stock Exchange

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September 22, 2016 02:01 ET (06:01 GMT)