New members sign up, launch meeting to be held today
ITM Power, Inc. of California, a wholly owned subsidiary of ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to provide an update on its participation in H2USA, the hydrogen infrastructure programme for the USA.
The United States Energy Department launched H2USA, a public-private partnership focused on advancing hydrogen infrastructure to support more transportation energy options for US consumers, including fuel cell electric vehicles (FCEVs) on 13 May 2013. Since that date, 12 additional organisations have signed up to H2USA: Air Liquide, American Honda Motor Company, ARC: Hydrogen, Argonne National Laboratory, Chrysler Group LLC, General Motors Holding, Hydrogenics, National Renewable Energy Laboratory, Nuvera Fuel Cells, Plug Power, SCRA and Sandia National Laboratories. The 13 founding members of the H2USA partnership were the American Gas Association, Association of Global Automakers, the California Fuel Cell Partnership, the Department of Energy, the Electric Drive Transportation Association, the Fuel Cell and Hydrogen Energy Association, Hyundai Motor America, ITM Power, Inc., Massachusetts Hydrogen Coalition, Mercedes-Benz USA, Nissan North America Research and Development, Proton OnSite, and Toyota Motor North America.
The launch meeting of H2USA takes place today in Washington at the offices of the Association of Global Automakers with an agenda to develop an organisational framework and strategy to address H2USA’s mission to promote the commercial introduction and widespread adoption of FCEVs across America through overcoming the hurdle of establishing hydrogen infrastructure. Attendees will be welcomed by Dr. David Danielson, Assistant Secretary, Energy Efficiency and Renewable Energy, U. S. Department of Energy.
Four working groups within H2USA have been formed to report on moving hydrogen infrastructure forward and the barriers that need to be overcome to deliver that objective:
Geoff Budd of ITM Power, Inc. and a member of the Hydrogen Fueling Station Working Group, commented: “As a founding member of H2USA, we will be very much involved in helping to map out the United States’ strategy for the adoption of hydrogen infrastructure and will be able to share global experience from our membership of similar organisations in the UK, Germany, France, Switzerland and Denmark.
“The US market looks set to be a key territory for ITM Power. I am delighted with the progress we are making in North America.”
For further information please visit www.itm-power.com or contact:
ITM Power, Inc.
+1 (604) 620 8525
Zeus Capital (Nominated Adviser & Broker)
Tim Metcalfe / John Goold
+44 (0)20 7533 7727
+44 (0)20 7920 3150
Through H2USA, industry and government partners will focus on identifying actions to encourage early adopters of fuel cell electric vehicles, conduct coordinated technical and market analysis, and evaluate alternative fueling infrastructure that can enable cost reductions and economies of scale. For example, infrastructure being developed for alternative fuels such as natural gas, as well as fuel cell applications including tri-generation that produce heat, power and hydrogen from natural gas or biogas, may also provide low cost hydrogen for vehicles. In addition, increased fuel cell deployment for combined heat and power, back-up power systems and fuel cell forklifts can help pave the way for mainstream hydrogen vehicle infrastructure.
With support from the Energy Department, private industry and the Department’s national laboratories have already achieved significant advances in fuel cell and hydrogen technologies – reducing costs and improving performance. These research and development efforts have helped reduce automotive fuel cell costs by more than 35 percent since 2008 and by more than 80 percent since 2002. At the same time, fuel cell durability has doubled and the amount of expensive platinum needed in fuel cells has fallen by 80 percent since 2005.
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, £5.4m in 2012 have been completed, together with a £2m Placing announced in August 2013. 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: