TSB Grant

RNS Number : 0169U

ITM Power PLC

15 December 2011

 



15^th December 2011

ITM Power plc

("ITM Power" or the "Company")

R&D Grant Funding

ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce it has received a total of £300k of new grant funding from the Technology Strategy Board as part of the Grant for Research and Development scheme. The funding is for three £100k projects: Advanced Membrane Production; Catalyst Improvements and Power Supply. These projects will result in improved production techniques and lower cost systems.

Advanced Membrane Production

ITM's novel hydrocarbon membranes are low cost, high conductivity and offer many advantages over conventional fluorocarbon materials. They present the ability to cure catalysts and/or electrode structures directly onto and into the surface of the membrane thus increasing intimate contact between the three principle components of an electrochemical cell removing the need for hot pressing. This project will develop an automated production line to replace the manual batch process currently used for MEA production.

Catalyst Improvements

This project will investigate the feasibility of utilizing a new catalyst in ITM's MEAs and will develop catalyst containing inks which are compatible with ITM's membrane materials and optimize the deposition techniques for MEA production.

Power Supply

Every electrolyser system contains at least one power supply unit (PSU). ITM's products are no exception. The PSUs can be a high cost component of the system (up to 16% of the capital costs), and when not optimized can introduce inefficiencies into the overall system. This project will develop the concepts for and test a basic prototype for a modular power supply unit to provide power to PEM electrolysers for the generation of hydrogen in off-grid, weak grid and grid connected applications allowing DC-DC and AC-DC power conditioning. It will be optimized for electrolyser power ranges, and able to accept grid and/or renewable inputs.

Commenting for ITM Power Dr Graham Cooley said: "R&D projects like these funded by the Technology Strategy Board are key to ITM Power retaining its cutting edge in the field of Hydrogen Energy Systems".

Commenting for the Technology Strategy Board, Richard Kemp-Harper said: "A good deal of the innovation that happens in the UK comes from small and medium-sized businesses, and with innovation comes business growth.  The Technology Strategy Board's role is to stimulate business-led innovation, so we are delighted to offer support to ITM Power for these exciting R&D projects." 

For further information please visit www.itm-power.com or contact:

ITM Power plc Dr Simon Bourne, CTO	0114 244 5111
Nomura Code Securities Limited Juliet Thompson / Dr Christopher Golden	020 7776 1200 www.nomuracode.com
Tavistock Communications Simon Hudson / Andrew Dunn	020 7920 3150

About the Technology Strategy Board:

The Technology Strategy Board is a business-led government body which works to create economic growth by ensuring that the UK is a global leader in innovation. Sponsored by the Department for Business, Innovation and Skills (BIS), the Technology Strategy Board brings together business, research and the public sector, supporting and accelerating the development of innovative products and services to meet market needs, tackle major societal challenges and help build the future economy. For more information please visit www.innovateuk.org

The Grant for Research and Development scheme - recently renamed Smart - offers funding to small and medium-sized enterprises (SMEs) to engage in R&D projects  from which successful new products, processes and services could emerge.  Managed by the Technology Strategy Board, the scheme supports R&D projects which offer potentially significant rewards and could stimulate UK economic growth.

About ITM Power:

ITM Power designs and manufactures Hydrogen Energy Systems for Energy Storage and Clean Fuel production. ITM Power has grown from its original platform of novel polymeric electrolytes (for water electrolysis and hydrogen fuel cells) to that of a technology provider. ITM Power now has both a strong base of intellectual property and engineering expertise for providing complete hydrogen solutions and CE marked products for sale.

 

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