Business
Bi-Fuels Limited Contract
Bi-Fuels Limited Contract.
About this update from Itm Power Plc
[{"type":"text","content":"\n ITM Power PLC\n14 March 2008\n\n\nFor immediate release 14 March 2008\n\n ITM Power plc\n\n ('ITM' or 'the Company')\n\n Bi-Fuels Limited Contract\n\n ITM Power signs contract to accelerate testing of hydrogen/diesel bi-fuel\n technology\n\nITM Power plc (AIM: ITM) wish to announce that on 29 February 2008 the Company\nsigned a contract with Bi-Fuels Limited to test and jointly assess hydrogen/\ndiesel bi-fuel technology.\n\nThe contract is the first step in establishing further test data on this\ntechnology, as ITM continues to explore the impact of hydrogen injection into\ndiesel fuelling systems. Under the terms of the contract, Bi-Fuels is committed\nto develop and test technologies for Hydrogen:Diesel co-combustion in\ncommon-rail engines for ITM which are applicable to ITM's proprietary materials\nand processes. The Bi-Fuels contract effectively replaces the MOU with ABRO,\nwhich has expired without testing taking place.\n\nProgress of this relationship will be reported in due course.\n\nJim Heathcote, CEO ITM Power, said:\n\n'The collaboration with Bi-Fuels Limited will enable ITM to accelerate its\ninvestigation of hydrogen/diesel bi-fuel technology, which is another area of\ncommercial potential for ITM's intellectual property and expertise.'\n\nFor further information please contact:\n\nITM Power plc 01799 542 222\nJim Heathcote, Chief Executive Officer\n\nPanmure Gordon & Co. 020 7459 3600\nKatherine Roe\n\nBuchanan Communications 020 7466 5000\nBen Willey\nRichard Darby\nBen Romney\n\nNotes to the Editors:\n\nITM Power is a developer of low-cost hydrogen technologies. The Company has\ndeveloped new materials and processes that dramatically reduce the cost of fuel\ncells and electrolysers. The patented membrane materials used in the devices\nhave higher performance and are 1% of the cost of the industry standard\nmaterials.\n\nElectrolysers work by converting water and electricity into hydrogen and oxygen.\nThe hydrogen produced can be used as a replacement for fossil fuels and\nfacilitate zero carbon domestic housing and pollution free motoring.\n\nITM Power was founded in 2000 and floated on the London Stock Exchange's\nAlternative Investment Market in June 2004.\n\nBi-Fuels Limited is pioneering in the field of multi-fuelling, having developed\nand patented electronic technology that allows diesel engines to...