First Sale in Russia

12 March 2013

 

ITM Power plc

("ITM Power" or the "Company")

 

First Sale in Russia

 

ITM Power (AIM:ITM), the energy storage and clean fuel company, is pleased to announce that it has sold the first reference plant based on the HPac platform to a company in Russia, which at this stage wishes to remain anonymous.  ITM Power looks forward to marketing its products more actively in Russia into that country's rapidly growing energy sector.

 

Dr Graham Cooley, ITM Power's CEO said, "Russia is a fast growing energy market that is beginning to look more seriously at the renewable space.  We are pleased that companies in Russia are looking at the renewable energy sector in general and our products in particular."

 

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

 

ITM Power plc Graham Cooley, CEO	0114 244 5111
N+1 Singer  (Nominated Adviser & Broker) Shaun Dobson / Jenny Wyllie	020 7496 3000
Tavistock Communications Simon Hudson / Kelsey Traynor	020 7920 3150

 

About ITM Power

ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and raised its initial funding of £10m gross in its IPO.  Further funding rounds of £28.5m in 2006 and £5.4m in 2012 have been completed.  The Company has now made the transition from a research and development company to a product manufacturer and technology provider.  The Company has both a strong base of intellectual property and engineering expertise for providing complete hydrogen solutions.  The Company has been successful in developing strategic industry partnerships in the following projects:

 

●     EU Funding for Advanced Refuelling Project

http://www.itm-power.com/news-item/e3-59m-grant-award-for-an-advanced-refueling-product/

●     AEG Power Solutions electrolyser integration with power electronics

http://www.itm-power.com/news-item/rapid-response-electrolyser-power-systems-integration/

·      DECC Funding Award for the Production of Synthetic Methane

http://www.itm-power.com/news-item/decc-funding-award-for-the-production-of-synthetic-methane/ 

·      EU Funding for PEM Fuel Cell Innovation - IMPACT

http://www.itm-power.com/news-item/eu-funding-for-pem-fuel-cell-innovation-impact/

·      Agreement with ABO Wind of Wiesbaden, Germany

http://www.itm-power.com/news-item/agreement-with-abo-wind-of-wiesbaden-germany/

·      Letter of Intent signed with German Utility

http://www.itm-power.com/news-item/letter-of-intent-signe-witdh-german-utility/

·      Shell and National Grid Join Gas Inject Project

http://www.itm-power.com/news-item/shell-and-national-grid-join-gas-inject-project/

·      EcoIsland TSB Funding

http://www.fuelcelltoday.com/news-events/news-archive/2012/july/ecoisland-progresses-tsb-grant-awarded-for-isle-of-wight-integrated-hydrogen-project

·      700bar Dispensing Collaboration in Germany

http://www.itm-power.com/news-item/700bar-dispensing-collaboration-in-germany/

·      Marks & Spencer Pilot Materials Handling Fuel Cell Project

http://www.itm-power.com/news-item/ms-agreement/

·      UKH2Mobility with leading auto OEM's, UK Gov't and industrial gas companies

http://www.itm-power.com/about-itm/partners/?id=49

·      EcoIsland with Toshiba, IBM, Cable & Wireless, SSE and Southern Water

http://www.itm-power.com/about-itm/partners/?id=46

·      Boeing Unmanned Aircraft System Refueller

http://www.itm-power.com/news-item/agreement-with-boeing/

·      Electrolyser Distribution with Horizon Fuel Cells

http://www.horizonfuelcell.com/fuel_solutions_hbox.htm

·      CREO with Ford, Jaguar Land Rover and Johnson Matthey

http://www.itm-power.com/about-itm/partners/?id=45

·      Exclusive European distribution rights for Materials Handling Fuel Cells

http://www.itm-power.com/news-item/exclusive-european-distribution-rights-for-materials-handling-fuel-cells/

·      Sale of Equipment to EADS

http://www.itm-power.com/news-item/sale-of-equipment-to-eads/

·      EU Grant Award for PEM Water Electrolysers Coupled to Renewable Power Sources

http://www.itm-power.com/news-item/eu-grant-award-for-pem-water-electrolysers-coupled-to-renewable-power-sources/

 

-ends-