Business
UK Hydrogen for Transport Programme
UK Hydrogen for Transport Programme.
About this update from Itm Power Plc
[{"type":"text","content":"\n \nRNS Number : 4737O ITM Power PLC 21 August 2017 \n\n21 August 2017\n \nITM Power plc\n(\"ITM Power\" or the \"Company\")\n \nLaunch of UK Government Hydrogen for Transport Programme\n \nITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to note the launch of the UK Government's \"The Hydrogen for Transport Programme\". In March 2017, the Government announced additional funding to support the development of hydrogen for transport until 2020. The Hydrogen for Transport Programme (HTP) will provide up to £23m to increase the uptake of hydrogen fuel cell vehicles and grow the UK hydrogen refuelling infrastructure. The funding competition for the programme has now been launched with an application deadline of 9am on Monday 16 October.\n \nITM Power currently has £24.06m of projects under contract and £18.22m of contracts in the final stages of negotiation, totalling £42.28m (subject to exchange rate variation). \n \nITM Power CEO, Dr Graham Cooley, said: \"The Hydrogen for Transport Programme is a further demonstration of the UK Government's commitment to developing a hydrogen infrastructure in the UK as part of its target to eliminate diesel and petrol from UK roads by 2040. We welcome this initiative but note the huge disparity between the funding for hydrogen infrastructure and the charging infrastructure for battery electric vehicles.\"\n \nFor further information please visit www.itm-power.com or contact: \n \n\n\n\n\nITM Power plc\nGraham Cooley, CEO\n\n\n+44 (0)114 244 5111\n\n\n\n\nInvestec Bank plc (Nominated Adviser and Broker)\nJeremy Ellis / Chris Sim / Jonathan Wynn\n\n\n+44 (0)20 7597 5970\n\n\n\n\nTavistock (Financial PR and IR)\nSimon Hudson / James Collins\n\n\n+44 (0)20 7920 3150\n\n\n\n\n \nNOTES TO EDITORS:\nThe new Hydrogen for Transport Programme (HTP) sets out the next steps to develop the UK hydrogen vehicle market, providing up to £23m of new grant funding until 2020 to support the growth of refuelling infrastructure alongside the deployment of new vehicles. The HTP was launched on the 17th August 2017 by the Office for Low Emission Vehicles (OLEV) and will provide funding via an open competition for both Hydrogen Refuelling Stations (HRS) and hydrogen fuel cell vehicles. The programme will be supported in...