Business
Contract & Hydrogen Bus Refuelling Stations Update
Contract & Hydrogen Bus Refuelling Stations Update.
About this update from Itm Power Plc
[{"type":"text","content":"\n \nRNS Number : 0871H ITM Power PLC 05 June 2017 \n\n5 June 2017\n \n \nITM Power plc\n(\"ITM Power\" or the \"Company\")\nContract and Hydrogen Bus Refuelling Stations Update \n \nITM Power (AIM: ITM), the energy storage and clean fuel company, announces an update on its contract position and its activities in the rapidly developing market for refuelling fuel cell electric buses (FCEBs). \n \nContract Position\n \nThe Company currently has £23.02m of projects under contract and a further £4.16m of contracts in the final stages of negotiation constituting a total pipeline of £27.18m, an increase of £2.82m since the last announcement on 18 April.\n \nFCEB Market\nIn this market, ITM Power has:\n· Partnered in NewBusFuel which this week published the positive FCEB business case\n· Secured £5.5m for its first FCEB refueller in Birmingham; which ITM Power will build, own and operate\n· Signed project development agreements with three UK bus operators\n· Signed business development agreements with two international bus operators\n· Been selected as the preferred supplier for two further major bus projects\n· Conducted detailed surveys on eight potential refuellers at bus depots in major UK and EU cities\n· Engaged in detailed discussions with five FCEB OEMs on refuelling requirements\n \nThe Birmingham HRS, JIVE and MEHRLIN\nJIVE (Joint Initiative for Hydrogen Vehicles across Europe) is Europe's largest zero-emission hydrogen bus project. This FCH JU funded initiative was launched on 25 January 2017 and the €125m scheme is set to deliver 144 hydrogen fuel cell buses and associated refuelling infrastructure in nine cities and regions across Europe. The buses will be deployed in five European countries: in the UK, they will take to the roads in London, Birmingham and Aberdeen. The value of ITM Power's first award in this exciting new market is £5.5m to supply the Birmingham hydrogen refuelling station (HRS) including £3.5m, funded by InnovateUK (already announced on 3 April 2017) to build, own and operate a 3MW grid balancing electrolyser and a further £2m to supply the refuelling equipment.\n \nThe MEHRLIN (Models fo...