ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has received confirmation of a €3.9m (£3.17m) grant award to a consortium to develop Proton Exchange Membrane (PEM) Fuel Cell Membrane Electrode Assemblies (MEAs) with ultra-low platinum loadings for automotive applications. The Company’s share of this award is €0.59m (£0.48m), recognised over the three years of the programme.
ITM Power will be working in a consortium of 12 members, led by Deutsches Zentrum für Luft- und Raumfahrt e.V., comprising
The programme, known as the IMPACT project and funded under the Seventh Framework Programme addresses the aim of improving the lifetime of PEM fuel cells with MEAs containing ultra-low platinum loadings (<0.2 mg/cm2) for automotive applications.
The overall objective of IMPACT is to develop MEA’s with improved durability (>5,000 hours) at high performance and having ultra-low platinum loadings for automotive applications. In particular, the project addresses the understanding of degradation processes which apply to such MEA’s; understanding the relationship between degradation, lifetime and platinum loading; development of improved MEA components (membranes, dispersions, catalysts); improved performance under dynamic operating conditions.
ITM Power’s main role in the project is to further develop its hydrocarbon PEM membrane offering and to evaluate the performance and durability of MEA’s developed in the project under the agreed dynamic operating conditions and to undertake assessment of low platinum loading approaches.
Dr Simon Bourne, CTO, ITM Power plc commented: “ITM Power is delighted to be part of this project which brings together leading fuel cell technologies to address key challenges for the next generation of automotive fuel cells. The project will also strengthen relationships with the fuel cell component supply chain; an important aspect of our strategy and complimentary to our work with the Carbon Trust.”
For further information please visit www.itm-power.com or contact:
ITM Power plc
0114 244 5111
Singer Capital Markets Limited (Nominated Adviser & Broker)
020 3205 7500
Simon Hudson / Kelsey Traynor
020 7920 3150
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. A further funding round of £28.5m was completed in 2006. 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: