ITM Power PLC
27 February 2008
For Immediate Release 27 February 2008
ITM Power plc
('ITM' or 'the Company')
ITM Power wins top international award
A British company leading the alternative fuel revolution has won a major
international award.
ITM Power (AIM: ITM), which is developing ways of using hydrogen to fuel
vehicles and provide power for homes and offices, has won The CleanEquity Monaco
2008 Award for Excellence in the Field of Environmental Technology Research.
The award was presented to ITM's Chief Executive Officer, Jim Heathcote, by
H.S.H. Prince Albert II of Monaco at a ceremony in Monaco at the end of the
two-day international conference on emerging environmental technologies.
Jim Heathcote said: 'This is a great honour and recognition of the hard work
that everyone at ITM Power is doing to make hydrogen fuel a commercial reality.
'We have made tremendous breakthroughs in science and technology that will allow
us to produce low-cost fuel cells and electrolysers. These products will open
the doors to zero emission energy solutions.'
ITM Power's scientists have been researching and developing the technology for
more than a decade. Later this year the company will open a factory in Sheffield
to start commercial production.
The company was founded in 2000 and is listed on the London Stock Exchange's
Alternative Investment Market (AIM). It employs around 60 people and has head
offices near Saffron Walden and research and development facilities in
Sheffield.
CleanEquity Monaco 2008 involved more than 40 of the world's leading
environmental technology companies and about 300 delegates including specialist
investors, national and international politicians and major construction
organisations.
Barclays Wealth and Barclays Capital were the main sponsors of the CleanEquity
conference.
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
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 homes 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