Agreement with Boeing

27 February 2012

ITM Power (AIM: ITM), the energy storage and clean fuel company, announces that it has signed an Equipment Development and Lease Agreement with Boeing Research & Technology Europe S.L.U. “Boeing” for the development, assembly and field trials of a 1Nm3/hr (2.1kg/day) PEM electrolyser. The containerised electrolysis equipment will form part of Boeing’s current off-grid refuelling station for Unmanned Aircraft Systems (“UAS”).

During the last few years the Unmanned Aircraft Systems (UAS) industry/sector has seen sustained growth, mainly through the development and maturing of military applications and followed by wide recognition of their possibilities in civilian applications which include: border control, coastguard, law enforcement, pipeline and powerline monitoring, earth and environmental observations, communications and many more. These systems can potentially offer lower cost and investment risk as well as low infrastructure requirements for tactical intelligence, surveillance and reconnaissance (ISAR).

ITM Power CEO, Dr. Graham Cooley, commented: “ITM Power has had a dialogue with Boeing Research & Technology –Europe for several years and actually completed some of the early ground work that led to the inception of the off-grid solar-based refuelling station for UAS that Boeing Research & Technology Europe is developing in Spain. I am delighted that Boeing Research & Technology Europe has now returned to ITM Power to complete the project with our PEM electrolyser technology and I look forward to taking our relationship further”.

Francisco Escartí, Managing Director, of Boeing Research & Technology Europe, commented: “We are very excited to test ITM Power´s PEM electrolyzer technology in our off-grid solar-based refueling station for UAS”.