ITM Power PLC Strategic collaboration with Mott Corporation (6191E)

TIDMITM

RNS Number : 6191E

ITM Power PLC

03 July 2023

3rd July 2023

ITM Power PLC

ITM Power announces strategic collaboration with Mott Corporation

ITM is partnering with Mott Corporation to cement ITM's market leadership in electrolyser stack technology. Leveraging both companies' expertise in science and technology, ITM and Mott are collaborating to further advance porous transport layers (PTL), which are a key component of proton exchange membrane (PEM) electrolysis.

ITM's stacks operate at the highest current density on the market, which results in lower stack cost due to reduced material use. The high current density brings very specific requirements for the PTL, which Mott have demonstrated capability to deliver. The two companies, both leaders in their fields with a strong R&D foundation and reputation for pioneering innovation, are working together to further enhance the efficiency and performance of ITM's already proven PEM electrolysis technology, and to develop ITM's next generation stack. ITM will work alongside Mott's engineering teams to design and verify component customisation in support of ITM's ongoing technology roadmap.

PTL distribute electrical current and fluids uniformly across the surface of the membrane. Through optimisation of the PTL, the performance of the core technology is maximised while providing a precise mechanical environment promoting long-term stability.

Dennis Schulz, CEO ITM Power, said: "Mott has demonstrated capability to meet our exacting requirements supported by stringent quality control and innovation. Together, we are progressing real-world technology to advance and future-proof the production of green hydrogen. Our collaboration will cement ITM's technology leadership and play an important role in our supply chain."

Boris Levin, CEO Mott, said: "As the largest provider of porous transport layers in the world, we are proud to strengthen our partnership with ITM and support its stack technology. Mott's porous transport layers are controlled to the tightest tolerances and have the most precise surface finish on the market, and we are excited to continue working with ITM to enhance our technology and drive green hydrogen production. Our partnership is based on a shared commitment to excellence and precision."

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

 
 ITM Power PLC 
 Justin Scarborough, Head of Investor 
  Relations 
  James Collins, Head of Corporate         [phone] 
  Affairs                                   [phone] 
 
 Investec Bank plc (Nominated 
  Adviser and Broker)                      [phone] 
 James Rudd / Chris Sim / Ben Griffiths 
 
 

About ITM Power PLC:

ITM Power was founded in 2000 and ITM Power PLC was admitted to the AIM market of the London Stock Exchange in 2004. Headquartered in Sheffield, England, ITM Power designs and manufactures electrolysers based on proton exchange membrane (PEM) technology to produce green hydrogen, the only net zero energy gas, using renewable electricity and water.

About Mott Corporation:

Mott is a technology-driven, precision filtration company trusted by the world's best technical and performance brands across four core markets: Medicine, Computing Power, Clean Energy, and Space Exploration. Mott's products can be found in everything from lifesaving medical devices to artificial intelligence to the Mars Rover. Established in 1959 and headquartered in Farmington, Connecticut, the company is 100 percent employee owned.

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July 03, 2023 02:00 ET (06:00 GMT)