ITM Power (AIM: ITM), the energy storage and clean fuel company, notes the publication today by the Office of Low Emission Vehicles (OLEV) of Investing in ultra low emission vehicles in the UK, 2015 to 2020.
The document sets out key elements of the Government’s proposed package of support for ultra low emission vehicles (ULEVs) in the period 2015-20 and it follows the announcement in the 2013 Spending Round that the Government was making £500m available to support ULEVs in this period.
The following extract relating to hydrogen Infrastructure was made in the report, which is available at www.gov.uk
We are positioning the UK to be a lead market for the introduction of hydrogen fuel cell vehicles and will announce soon, and no later than autumn, 2014 the actions that both Government and industry stakeholders will be taking to achieve this.
‘Driving the Future Today’ identified that we would explore the options for Government grant funding to support industry’s investments in the initial network of hydrogen refuelling stations required to support the commercial deployment of hydrogen fuel cell electric vehicles (FCEVs) in the UK. It also gave a commitment that we will work with industry to identify and resolve outstanding practical issues around the refuelling and use of hydrogen FCEVs, including the hydrogen quality assurance process, integration of hydrogen refuelling into conventional fuel retail forecourts and ensuring an optimal consumer experience.
UKH2Mobility, a joint Government-industry project evaluating the potential of hydrogen as a transport fuel, has concluded that an initial network of 65 hydrogen refuelling stations across the UK, covering major population centres and the connecting roads, could provide sufficient coverage for the early market.
Phase 3 of UKH2Mobility – focused in implementation planning – has not yet completed. An announcement will be made soon, and no later than autumn 2014, on the actions that both Government and industry stakeholders will be taking to position the UK as a lead market for the introduction of hydrogen fuel cell vehicles.
Q. How does hydrogen fit with other technologies?
We have always said that the decarbonisation of road transport will be achieved through a portfolio of technologies. We believe battery electric vehicles, plug-in hybrids and hydrogen fuel cell vehicles will all have a role to play.
Q. When will you make an announcement on hydrogen support?
We are positioning the UK to be a lead market for the introduction of hydrogen fuel cell vehicles and will announce by autumn 2014 the actions that both Government and industry stakeholders will be taking to achieve this.
Commenting on the Report Dr Graham Cooley, CEO of ITM Power said: “We are pleased that this Government supports the goal of positioning the UK as a lead market for hydrogen fuel cell vehicles with its consequent benefits for our economy, our energy security and our environment. I look forward to the publication later this year of the report on Phase 3 of UK H2Mobility, which we expect will set out how that goal can be achieved.”
For further information please visit www.itm-power.com or contact:
ITM Power plc
Graham Cooley, CEO
0114 244 5111
Tim Metcalfe (Nominated Adviser)
John Goold (Institutional Sales)
020 7533 7727
Simon Hudson / James Collins
020 7920 3150
The Office for Low Emission Vehicles (OLEV) is a cross Government, industry endorsed, team combining policy and funding streams to simplify policy development and delivery for ultra low emission vehicles. OLEV currently comprises people and funding from the Departments for Transport (DfT), Business, Innovation and Skills (BIS), and Energy and Climate Change (DECC). The core purpose is to support the early market for electric and other ultra low emission vehicles (ULEVs). OLEV is based in DfT and this document is published by the Department for Transport.
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, £2m in 2013 and £10m in 2014 have been completed. 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.