ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed a fuel contract with Honda (UK), who will purchase hydrogen at £10/kg. The contract covers fuel dispensed across ITM Power’s hydrogen refuelling network. The refuelling network has been financially supported by Innovate UK, Office for Low Emission Vehicles (OLEV) and the Fuel Cells and Hydrogen Joint Undertaking (FCH JU).
This is the seventeenth fuel supply contract for refuelling fuel cell electric vehicles ITM Power has signed. Honda joins Toyota GB PLC, Hyundai Motor UK Ltd, Commercial Group, Skanska, UlemCo Ltd, Arval UK Ltd, UK Government Car Service, Arcola Energy, Johnson Matthey, Europcar, The Science Museum, JCB, Anglo American, Green Tomato Cars, Yorkshire Ambulance Service and Northern Gas Networks as a fuel customer.
ITM Power is currently rolling out a network of 10 hydrogen refuelling stations in the UK of which 4 are now open for public access. Each station produces hydrogen on site via ITM Power’s rapid response electrolyser system, and can refuel a fuel cell electric car in three minutes, providing 300 to 420 miles of clean emission driving, without compromise to drivers’ normal refuelling routine.
Dr Graham Cooley, CEO, ITM Power, commented: “We look forward to supporting Honda and its HyFIVE customers with their refuelling requirements for the Clarity Fuel Cell as our hydrogen refuelling station network expands throughout the UK.”
Thomas Brachmann, Automobile Powertrain and Materials Research Expert at Honda R&D Europe (GmbH): “We are delighted that customers using Honda’s Clarity Fuel Cell in the HyFIVE project can refuel at ITM Power’s hydrogen refuelling stations. Working together with industry partners, such as ITM Power, drivers of fuel cell vehicles can enjoy rapid refuelling at one of the growing number of stations across the UK.”
For further information, please visit www.itm-power.com or contact:
ITM Power plc
Graham Cooley, CEO +44 (0)114 244 5111
Investec Bank plc (Nominated Adviser and Broker)
Jeremy Ellis / Chris Sim / Jonathan Wynn +44 (0)20 7597 5970
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 £23.35m of projects under contract and a further £5.32m of contracts in the final stages of negotiation, totaling £28.67m, subject to exchange rate variation.