ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed a fuel contract, for the sale of hydrogen fuel at £10/kg, with Europcar UK. The fuel contract covers fuel dispensed across ITM Power’s hydrogen refuelling network which has been financially supported by Innovate UK, OLEV and FCH JU.
Europcar UK, subsidiary of Europcar Group, a European leader in vehicle rental services and a major player in mobility markets, announced today that it has been awarded a grant from OLEV enabling it to purchase “the largest privately owned fleet of hydrogen cars”. ITM Power will be providing fuel for this new fleet of Toyota Mirai fuel cell electric vehicles.
This is the sixth fuel supply contract ITM Power has signed and Europcar joins Hyundai, Toyota, Commercial Group, Arcola Energy and Arval as a fuel customer.
Dr Graham Cooley, CEO of ITM Power, commented: “The adoption of FCEVs and our green hydrogen fuel continues to gather pace. We congratulate Europcar on the award and their decision to create the largest privately owned fleet of hydrogen cars for chauffeur drive and corporate rental.”
For further information, please visit www.itm-power.com or contact:
ITM Power plc Graham Cooley, CEO +44 (0)114 244 5111 Zeus Capital Andrew Jones / Dan Bate / Hugh Kingsmill Moore +44 (0)20 3829 5000 Tavistock Simon Hudson / James Collins +44 (0)20 7920 3150
About ITM Power plc:
ITM Power manufactures integrated hydrogen energy solutions which are rapid response and high pressure that meet the requirements for grid balancing and energy storage services, and for the production of clean fuel for transport, renewable heat and chemicals. ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004. The Company received £4.9m as a strategic investment from JCB in March 2015. The Company signed a forecourt siting agreement with Shell in September 2015. The Group currently has £16.85m of projects under contract and a further £4.15m of contracts in the final stages of negotiation, totaling £21.0m, subject to exchange rate variation. ITM Power is a founder member of the Social Stock Exchange.