About ITM Power
ITM Power Plc believes it has developed and patented the keys to revolutionise the hydrogen economy and is set to become one of the UK's leading innovator within the alternative energy sources industry.
In 1995 ITM's Director of Research, Dr Donald Highgate, recognised an opportunity to use his background in hydrophilic polymer chemistry to investigate and develop a new class of low-cost membrane. Existing industry standard membrane material is estimated to cost $500 per sq metre, ITM's membrane costs $5 per sq metre. He has applied this knowledge to simplify fuel cell architecture by devising an in situ manufacturing process, which could significantly reduce its costs in mass production. Following first round funding in 2002, ITM began work on testing these materials for longevity and further developing the in situ manufacturing process, as well as redesigning the architecture of fuel cell and electrolyser systems.
ITM Power was the first fuel cell company to be admitted to AIM. Since the Company's IPO in July 2004, the company has reached the AIM 100 index and is the largest combined electrolyser and fuel cell company in Europe.
Peter Hargreaves
Non Executive Chairman
Peter joined the board of ITM in February 2004 as a non-executive director. After qualifying as a chartered accountant he was employed by KPMG, Unisys and Whitbread and Company Limited. In 1981 he founded the national investment brokerage Hargreaves Lansdown PLC where he remains as chief executive officer.
Jim Heathcote
Chief Executive Officer
Jim joined the board of ITM as a non-executive director in March 2002 and was appointed chief executive officer in May 2003. He is a chartered accountant with extensive experience of global capital markets and the hydrogen economy. He was a senior vice president of Drexel Burnham Lambert and executive vice president of Prudential-Bache Securities (U.K.) Inc. before moving into fund management and founding the Katalyst Hydrogen Fund. The fund specialised in investments in hydrogen technologies.
Dr Donald Highgate
Research Director
ITM's Director of Research, Dr Donald Highgate, is a physicist with a background in hydrophilic polymer chemistry. In 1995, he proposed the development of a new class of low-cost membrane polymers, which are now at the heart of ITM's PEM fuel cell and electrolyser technology. This enabled him to simplify fuel cell architecture by devising an in situ manufacturing process, using the new polymers, with the potential to significantly reduce the costs of fuel cell and electrolyser mass production.
Lord Peter Walker
Non-Executive Director
Lord Walker was a member of all Conservative Cabinets between 1970 and 1990, holding several posts including Secretary of State for Trade and Industry (including Energy), Secretary of State for the Environment and Secretary of State for Energy. He was Chairman of Allianz Cornhill Insurance plc from 1992 to 2006. He is currently a Non-Executive Director of The London International Financial Futures and Options Exchange. After retiring from the Cabinet, Lord Walker became Chairman of international investment bank, Kleinwort Benson Group plc and is now Vice Chairman of Dresdner Kleinwort.
Roger Putnam
Non-Executive Director
Roger Putnam, the former Chairman of Ford of Britain, is currently President of the Society of Motor Manufacturers and Traders and a member of the Government's Energy Review Partnership. The Partnership will report to the Chancellor on the country's future energy strategy. Other directorships include: Chairman of Jaguar Daimler Heritage Trust, the DTI's Retail Motor Strategy Group and Deputy Chairman of Motorsport Development UK. He is also a visiting professor of Automotive Studies at the City of London University. Roger's distinguished career in the automotive industry began at Lotus Plc. In 1982 he joined Jaguar Cars Ltd as director, marketing and UK sales operations. In 1985 Roger was appointed to the board of Jaguar as Director, Sales and Marketing, a role he retained until he was appointed Chairman of Ford of Britain in 2002.
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