ITM Power (AIM: ITM), the energy storage and clean fuel company, announce its participation in H2USA, the hydrogen infrastructure programme for the USA.
The United States Energy Department yesterday launched H2USA, a new public-private partnership focused on advancing hydrogen infrastructure to support more transportation energy options for US consumers, including fuel cell electric vehicles (FCEVs). The new partnership brings together auto manufacturers, government agencies, gas suppliers, and the hydrogen and fuel cell industries to coordinate research and identify cost-effective solutions to deploy infrastructure that can deliver affordable, clean hydrogen fuel in the United States.
Members of the H2USA partnership include the American Gas Association, Association of Global Automakers, the California Fuel Cell Partnership, the Electric Drive Transportation Association, the Fuel Cell and Hydrogen Energy Association, Hyundai Motor America, ITM Power, Massachusetts Hydrogen Coalition, Mercedes-Benz USA, Nissan North America Research and Development, Proton OnSite, and Toyota Motor North America.
Assistant Secretary for Energy Efficiency and Renewable Energy, David Danielson, said: “Fuel cell technologies are an important part of an all-of-the-above approach to diversify America’s transportation sector, reduce our dependence on foreign oil and increase our competitiveness in the global market. By bringing together key stakeholders from across the U.S. fuel cell and hydrogen industry, the H2USA partnership will help advance affordable fuel cell electric vehicles that save consumers money and give drivers more options.”
ITM Power CEO, Dr. Graham Cooley, commented: “We have been working on developing our relationships in the USA for some time now and we are very pleased to be founding members of H2USA. We are looking forward to building on our relationships and entering the US market with our HFuel product.”
For further information please visit www.itm-power.com or contact:
ITM Power plc
Graham Cooley, CEO
0114 244 5111
N+1 Singer (Nominated Adviser & Broker)
Shaun Dobson / Jenny Wyllie
020 7496 3000
Simon Hudson / Kelsey Traynor
020 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 and £5.4m in 2012 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. The Company has been successful in developing strategic industry partnerships in the following projects: