Business
Formation of ITM Motive & Appointment of MD
Formation of ITM Motive & Appointment of MD.
About this update from Itm Power Plc
[{"type":"text","content":"\n \n \n RNS Number : 9779M\n ITM Power PLC\n 15 May 2020\n \n \n \n 15 May 2020\n \n \n \n \n ITM Power plc\n \n \n (\"ITM Power\" or the \"Company\")\n \n \n \n \n \n Establishment of ITM Motive and Appointment of Managing Director\n \n \n \n \n \n ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce the appointment of Duncan Yellen as Managing Director of ITM Motive, the division of ITM Power responsible for the UK build, own and operate portfolio of hydrogen refueling stations. ITM Motive will be established as a separate, wholly owned subsidiary for the management of the Company's refueling assets.\n \n \n \n \n \n Dr Duncan Yellen (54) has had a 30 year career in the energy and environmental sector. Prior to joining ITM Motive, Duncan was most recently M&A and Business/Project Development Manager at Storengy, a wholly owned subsidiary of Engie, where he was responsible for identifying new business streams and successfully developed its business strategy in green gases, CNG and geothermal. From 2012 to 2018 he was Head of Consulting for EA Technology Ltd, managing a team of 40 consultants. Duncan's early career was with National Power in the UK and with British Gas in various technology and business development roles. Duncan has an MBA from Bradford University a PhD in Materials Science and BSc in Physics from Liverpool University.\n \n \n \n \n \n On establishment, ITM Motive will own and operate a network of eight publicly accessible hydrogen refueling stations, which will expand to 11 by the end of 2020. Each incorporates an ITM Power electrolyser and a Linde IC90 compression, storage and dispensing system. ITM Power has successfully sourced both UK and EU funding to support the build and deployment costs, and developed a siting agreement with Shell for deployment on their forecourts in the UK. The Company has demonstrated (in close collaboration with Linde) a world class station availability of 98 per cent which is encouraging further fuel cell electric vehicle (FCEV) roll out in the UK.\n \n \n \n \n \n ITM Motive's sites in the UK continue to be operational as part of the essential services provided during the current lockdown, refueling vehicles for the Metropolitan Police and Green Tomato cars (which is providing trans...