ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the achievement of CE certification of the Infintium Fuel Cell System for materials handling vehicles. ITM Power is the exclusive European importer of the Infintium system and can now offer customers an integrated fuel cell and refuelling solution which are both CE marked.
A CE mark is a mandatory conformance mark for products placed on the market in the European Economic Area and signifies that a product has met EU consumer safety, health and environmental requirements. In the case of the Infintium Fuel Cell System, CE requires conformance with the Pressure Equipment, EMC and Low Voltage Directives. The compliance process has enabled Infintium to develop productive relationships with numerous notified bodies and accelerate qualification work with multiple materials handling vehicle OEM’s.
On 22nd June 2012, the Company announced that it had signed an agreement with Infintium Fuel Cell Systems Inc. of Texas (“IFCS”) to become its exclusive European distributor of fuel cell systems for materials handling equipment (“the Agreement”). The Agreement facilitates the development of a European customer base in the rapidly expanding materials handling market where traditional battery and engine technology is being replaced by fuel cells powered by hydrogen. Under the Agreement, IFCS committed to gaining, with ITM Power’s assistance, CE marking for its systems that can be fitted to all classes of pallet and fork lift trucks as well as airport baggage handling and utility vehicles.
Materials handling continues to be a leading market for transport-related fuel cells. Large warehouses have found that fuel cells provide both an attractive alternative to battery-powered vehicles and an effective range extender for batteries. As a battery replacement, fuel cells provide nearly continuous operations (refueling takes less than five minutes), provide a continuous level of power (batteries lose power as charge levels decrease), and eliminate the need for battery changing facilities that use valuable warehouse space. As a range extender, fuel cells help maintain a constant state of charge, thus reducing or eliminating the need for battery recharging or replacement. The result is that the materials handling market provides a clear business case for fuel cell applications.
Currently, the United States is by far the world leader in fuel cell-powered forklift deployments, with more than 3,000 fuel cell forklifts either deployed or on order as of the end of 2011. ITM Power can now offer a full turnkey solution to the materials handling sector, including on-site hydrogen generation, refueling and fuel cell systems. The successful trials of the Company’s HFuel product platform, together with measured operational benefits of fuel cell powered materials handling vehicles, has seen ITM Power engage with a growing number of potential retail, distribution and logistics customers. The Company can provide a tailored, integrated solution – including modeling, on-site trials, supply of equipment and maintenance contracts. HFuel is capable of generating up to 400kg of hydrogen per day, on-site, from renewable power.
In addition to demonstrating HFuel in the Ride and Drive area at the Hannover Messe in April this year, ITM Power will have an extended area for the demonstration of fuel cell powered materials handling equipment where the Infintium fuel cell will be demonstrated to industry experts from around the world. Details of the Hydrogen and Fuel Cells fair can be seen at the following link: http://www.h2fc-fair.com/
Ross Oliver, IFCS VP Operations said: “IFCS and ITM Power will now be able to tender for extensive commercial contacts in Europe. The market for hydrogen in the materials handling space is the fastest growing hydrogen sector and it’s great to be able to make a new entrant offering with our partner ITM Power.”
Dr. Graham Cooley, CEO of ITM Power, commented: “CE certification for the Infintium Fuel Cell System is a huge achievement and I am delighted that we can evidence conformity. ITM Power can now cater for customers who want a full turnkey system. It complements our existing product portfolio and takes us into this fast growing market.”
For further information please visit www.itm-power.com or contact:
ITM Power plc
0114 244 5111
Nplus1 Singer Advisory LLP (Nominated Adviser & Broker)
Shaun Dobson / Jenny Wyllie
020 749 63000
Simon Hudson / Kelsey Traynor
020 7920 3150
About Infintium Fuel Cell Systems
The Infintium team has extensive experience in the materials handling sector and has applied their knowledge to fuel cell technology to create a product that specifically addresses the needs of the materials handling fleet. Infintium has assembled a team consisting of some of the most prominent and effective technical teams in the fuel cell arena to deliver a high performance, low cost and durable solution.
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: