ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the successful commercial launch of its CE marked product range, HPac, HBox and HFlame, at the Hydrogen and Fuel Cells Fair at the Hannover Messe in Germany. The Company received a great deal of attention at the fair, speaking five times in the Public Forum and three times in the Technical Forum. The Company was also given significant exposure in the Hannover Messe web coverage of the event. The company video of the fair can also now be viewed.
Analysis of the enquiries shows 360 new contacts and renewed interest from existing contacts, keen to revisit enquiries made last year prior to product CE marking. 30 privately scheduled meetings took place to discuss partnerships for project development and EU funding, as well as potential product orders and channel partner discussions for the Company’s HFlame product.
Germany has the largest hydrogen refuelling infrastructure plans in the world. This coupled with the political will and allocated funding, makes Germany a key early hydrogen refuelling market. The Company is examining the possible commercial and grant support opportunities to launch phase two of the HOST programme in Germany with commercial fleet operators.
In addition to interest in the products offered for sale, the Company had a number of meetings concerning its proprietary membrane materials for potential use in numerous fuel cell applications. It is clear that the fuel cell materials are uniquely positioned, offering significantly higher power densities than existing state-of-the-art equivalents. The Company has been invited to present technical results to a number of organisations over the coming months.
The overwhelmingly positive feedback both from private meetings and the hydrogen and renewable energy community itself, is taken as evidence that the products launched are of a specification relevant to existing and emerging market opportunities. The Company issued price lists to interested parties at the fair and all three of the CE marked products were well received. The Company will now be responding to commercial enquiries with written quotations for each of the products.
The Company now has the supply chains in place for the procurement of components, as well as manufacturing routes for each of the CE marked products and is ready to fulfil orders. The Company’s integrated systems enable the seamless flow of information, from CAD drawing to final product dispatch.
It is clear that the key early markets for ITM Power’s products will be Germany and the United States, with the majority of commercial enquiries coming from these two territories. However, commercial enquiries were also received from other territories with significant investments in renewable energy resources.
ITM Power is continuing its presence at trade fairs and will be attending further shows over the next few months.
The following list is not exhaustive:
Product sales figures will be summarized periodically with the final and interim results. The next results will be for the year ended 30 April 2011, which will be announced in July.
Commenting on the product range launch, Graham Cooley, CEO, said, “Once again the Hannover Messe has proved to be the event of the year for ITM Power. It has been a fantastic springboard for our products and technology, which are attracting increasing interest and validation. We look forward to building on this success in the coming year.”
For further information please visit www.itm-power.com or contact:
ITM Power plc,
Graham Cooley, CEO,
0114 244 5111
Nomura Code Securities Limited
Juliet Thompson / Dr Christopher Golden
+44 (0)20 7776 1200
Simon Hudson / Andrew Dunn,
020 7920 3150
The world’s leading showcase for industrial technology, where over 120 companies and institutions from 25 countries showcase a full spectrum of hydrogen/fuel cell-related products & services at Europe’s largest and most important H2+FC exhibition.
The show includes the latest developments in stationary, portable & mobile fuel cells, fuel cell applications, components, test systems, hydrogen production, transport, storage & infrastructure, reformers and beyond.