Girish Mahajan (Editor)

ITM Power

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Traded as
  
LSE: ITM

Website
  
www.itm-power.com

Industry
  
Hydrogen Economy

Founded
  
2001

ITM Power wwwitmpowercomwpcontentthemesitmpowerasse

Key people
  
Dr. Graham Cooley (CEO)

Products
  
Electrolysers Hydrogen Stations Energy Storage

Revenue
  
£480,000 (Fiscal year Apr 2011-Apr 2012)

Stock price
  
ITM (LON) 17.25 GBX +0.38 (+2.22%)9 Mar, 5:09 PM GMT - Disclaimer

Headquarters
  
South Yorkshire, United Kingdom

Subsidiaries
  
ITM Power ApS, Itm Power Inc, ITM Power GmbH, ITM Power (Research) Ltd, ITM Power (Trading) Limited

Profiles

ITM Power is a company that specializes in electrolysers, and hydrogen fuel cell products. Founded in June 2001, the company floated on the Alternative Investment Market in 2004, an action which raised £10 million. The company's revenues increased from £8,000 in the fiscal year ending April 2011 to £480,000 in the fiscal year ending April 2012. The company did not make a sale until June 2010, when it provided an electrolyser for the University of Birmingham. The company has since gone on to make a number of sales.

Contents

The Company received £4.9m as a strategic investment from JCB in March 2015. The Company signed a forecourt siting agreement with Shell in September 2015.

History

ITM Power was created in June 2001, and was the first United Kingdom-based fuel cell company that went public. February 2004 Peter Hargreaves joined ITM Power as a Non-Executive Director. In May 2006, Roger Putnam CBE, was appointed as the independent Non-Executive Director of ITM Power. That month, ITM Power also raised around £29 million by placing 9,189,235 Ordinary Shares at 320p each.

In June 2009, Graham Cooley was made CEO of ITM Power.

On June 4, 2014, Sir Roger Bone joined the Board as Non-Executive Director. Roger has been President of Boeing UK since September 2005. On 5 June 2015 Robert Pendlebury joined ITM Power as a non-executive director. Bob worked at JCB as Research Director and eventually became their Engineering and Research Director.

Clean Fuel

Hydrogen fuel is the cleanest fuel available. It can be generated using surplus renewable electricity and water using an ITM Power electrolyser. This offers a renewable clean fuel, which can be made on-site at the point of use, eliminating the need for transported fuel deliveries.

The main area for hydrogen fuel use is for road transportation, which makes up a huge percentage of transportation emissions worldwide. The UK has a target to reduce carbon in transportation by 90% and in the USA, California were the first to pass legislation on renewable energy mobility with funds being made available to support the deployment of a hydrogen infrastructure.

Due to its zero carbon offering, hydrogen fuel for "fuel cell electric vehicles" (FECVs) is now high on the agenda in a number of countries with significant government projects enabling the roll-out of hydrogen mobility programmes. These programmes are supporting the availability of FCEVs to the public, whilst at the same time ensuring that there is a hydrogen infrastructure in place to refuel.

Hydrogen Stations

ITM Power currently has three hydrogen refuelling stations (HRS) operating in the UK and a further four will be opened in 2017. They are:
M1 Wind Hydrogen Station
NPL, Teddington
CEME Solar Hydrogen Station
The next will be the first to be located on a conventional forecourt. The station is owned by Shell and is the UK’s largest service station, located at Cobham just off the M25 motorway. This will be opened to the public on 22 February 2017.

Power to Gas

ITM Power has supplied its HGas electrolyser units in several power-to gas projects. The first plant to inject electrolytic generated hydrogen into the gas distribution network in Germany was with Thüga. This operates at an overall efficiency of over 70% and participates in the market for secondary control ("grid balancing"). It makes a contribution to maintaining grid stability while outputting "hydrogen" to the "gas grid". The second plant was deployed by RWE in Germany at a pressure let-down station in the gas grid. By implementing a heat recovery system an overall efficiency of 86% was achieved.

ITM Power has also recently sold a 1MW electrolyser system and additional equipment to ZEAG Energie AG by competitive tender.

ITM’s HGas product brings together Rapid Response Electrolysis and self-pressurising PEM electrolysis into a fully integrated package. HGas is capable of addressing MW scale applications, HGas accommodates fluctuating power profiles while generating hydrogen at pressures suitable for either direct injection into natural gas networks (assisting grid balancing or via methanation processes without additional compression

H2USA

ITM Power is a founding member of H2USA participation in H2USA, the hydrogen infrastructure programme for the USA launched by The United States Energy Department in May 2013, a new public-private partnership focused on advancing hydrogen infrastructure to support more transportation energy options for US consumers, including fuel cell electric vehicles (FCEVs). The new partnership brings together auto manufacturers, government agencies, gas suppliers, and the hydrogen and fuel cell industries to coordinate research and identify cost-effective solutions to deploy infrastructure that can deliver affordable, clean hydrogen fuel in the United States.

Members of the H2USA partnership include the American Gas Association, Association of Global Automakers, the California Fuel Cell Partnership, the Electric Drive Transportation Association, the Fuel Cell and Hydrogen Energy Association, Hyundai Motor America, ITM Power, Massachusetts Hydrogen Coalition, Mercedes-Benz USA, Nissan North America Research and Development, Proton OnSite, and Toyota Motor North America.

Hydrogen On Site Trials (HOST)

Hydrogen On Site Trials (HOST) is a trial of ITM Power’s transportable high pressure refuelling unit (HFuel) which was built with support from the Technology Strategy Board (TSB) was launched at Stansted Airport in March 2011. HFuel is suited to small fleet and early "hydrogen highway" applications of both fuel cell and hydrogen engine vehicles (FCV and HICEV). It is based around a modular platform (standard 20 foot shipping containers) and can be expanded at any point after the initial installation enabling a staged rollout of hydrogen fuel. Membership of HOST provides partners with a one-week free trial of HFuel and the two Ford HICE transit vehicles. ITM personnel manage and operate the demonstrations with liaison with site owners’ operations and management. 21 commercial partners joined the HOST trials from seven different industrial sectors

UKH2Mobility

UKH2Mobility is a new government and cross-industry programme to make hydrogen powered travel in the UK a reality. Industry signatory parties to the Memorandum of Understanding are: •Air Liquide Hydrogen Energy, SA •Air Products PLC •Daimler AG •Hyundai Motor Company •Intelligent Energy Limited •ITM Power PLC •Johnson Matthey PLC •Nissan Motor Manufacturing (UK) Limited •Scottish and Southern Energy plc •Tata Motors European Technical Centre plc •The BOC Group Limited •Toyota Motor Corporation •Vauxhall Motors

Synopsis of Phase1 published by UKH2Mobility on 4 February 2013 also includes the mix of production methods able to provide cost-competitive hydrogen to the consumer while delivering very significant CO² emissions reductions. The full report can be viewed here:

High-power-density fuel cell

ITM Power’s hydrocarbon fuel cell membrane is highly conductive and has demonstrated a power density exceeding 1.5 W/cm2 at 600 mV with hydrogen/air, 0.3 mg/cm2 of platinum catalyst per electrode and low gas pressures (1.5 bara). ITM's membrane material has repeatedly shown durability beyond 700 hours (representing many thousands of hours of normal operation). This represents over three times the longevity specified in the DoE target, and comparable with the best results measured for incumbent fluorocarbon membrane materials and as such is a significant indication of ITM Power’s fuel cell membrane durability.

Ecoisland Partnership CIC

The Ecoisland Partnership CIC project brings together a number of key companies of smart energy technologies to demonstrate how a future energy system can be configured on an island. With renewable generation including solar, wind, 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 Worldwide, 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.

Green Box

In July 2008 ITM Power launched its first innovation for a hydrogen home refuelling station.

Green energy project

In July 2012, ITM Power, along with four other companies, was selected by the Technology Strategy Board innovation agency and the Department of Energy and Climate Change in the United Kingdom to develop ways of using clean energy on transport systems. ITM's assigned project was to build an electrolysis based hydrogen refueller to be used as transport fuel on the Isle of Wight. The plan is to make the Isle of Wight carbon neutral, by having residents create fuel at their home. The company is part of the Ecoisland Partnership CIC.

Nottingham University Refuelling Station

ITM Power installed an electrolyser driven hydrogen refueling station named Hfuel at Nottingham University. The refuelling station can provide hydrogen at 350 bar to vehicles and 150 bar to the university's laboratory. ITM Power wrote a report detailing the process of Electrolysation, and the impact of the Hfuel refueller at the university.

References

ITM Power Wikipedia