ITM Power PLC
11 December 2007
For Immediate Release 11 December 2007
ITM Power plc
('ITM' or 'the Company')
Cooperative Research and Development Agreement (CRADA) with United States Naval
Undersea Warfare Center
ITM Power plc (AIM:ITM), the technology and research company focused on the
commercialisation of the hydrogen economy, is pleased to announce that it has
signed a cooperative agreement with the Naval Undersea Warfare Center Division
Newport (NUWCDIVNPT) to collaborate in the development of advanced power systems
for Unmanned Undersea Vehicle (UUV) applications. The following is an agreed
public statement of objectives:
'This CRADA will enable discussions and investigations of dual liquid fuel cells
for unmanned undersea vehicle (UUV) applications including identification of
critical operation parameters having relevance to the development of materials
and systems within the dual liquid fuel cell and fuel supply areas. These
collaborative efforts between ITM Power and NUWCDIVNPT will include
investigating the potential for ITM Power designed fuel cells to meet the needs
of the operation parameters identified. Under the CRADA, NUWCDIVNPT and ITM
Power will also identify and define additional research and development to make
ITM Power fuel cells meet the operational parameters defined and to quantify
those research and development efforts in terms of time and money.
The U.S. Navy has an interest in fuel cell technology and is investigating a
number of options with which to advance its UUV program. ITM Power has an
interest in furthering research and development of its specific fuel cell design
and will, along with the Navy, benefit from this collaborative effort.'
Jim Heathcote, CEO ITM Power, said:
'We are pleased to be working with the US Naval Undersea Warfare Center. We
believe electrolyser and fuel cell systems have many military applications and
we hope this agreement will open the door to large potential markets for our
technology.'
For further information please contact:
ITM Power plc 01799 542 222
Jim Heathcote, Chief Executive Officer
Panmure Gordon & Co. 020 7459 3600
Katherine Roe
Buchanan Communications 020 7466 5000
Ben Willey/Richard Darby/Ben Romney
Notes to the Editors:
ITM Power is a developer of low-cost hydrogen technologies. The Company has
developed new materials and processes that dramatically reduce the cost of fuel
cells and electrolysers. The patented membrane materials used in the devices
have higher performance and are 1% of the cost of the industry standard
materials.
Electrolysers work by converting water and electricity into hydrogen and oxygen.
The hydrogen produced can be used as a replacement for fossil fuels and
facilitate zero carbon housing and pollution free motoring.
ITM Power was founded in 2000 and floated on the London Stock Exchange's
Alternative Investment Market in June 2004.
This information is provided by RNS
The company news service from the London Stock Exchange
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