ITM-POWER: ein MISSING-LINK für die Solarwirtschaft - 500 Beiträge pro Seite
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ist noch eine Development-Stage Company aus England
Wesentliche Entwicklungsziele sind kommerziell einsetzbare
-Elektrolyser
-Fuel-Cells
Beides wäre sehr hilfreich, um regenerativ erzeugten Strom "speichern" zu können. Solange es für das Speicherproblem keine Lösung gibt, wird man nicht mehr als vielleicht 25-30% des Gesamtenergiebedarfs mit Strom+Wind abdecken können.
Keine Ahnung, ob die das können, aber mal im Auge behalten.
Bewertung etwa 4-faches cash.
Wesentliche Entwicklungsziele sind kommerziell einsetzbare
-Elektrolyser
-Fuel-Cells
Beides wäre sehr hilfreich, um regenerativ erzeugten Strom "speichern" zu können. Solange es für das Speicherproblem keine Lösung gibt, wird man nicht mehr als vielleicht 25-30% des Gesamtenergiebedarfs mit Strom+Wind abdecken können.
Keine Ahnung, ob die das können, aber mal im Auge behalten.
Bewertung etwa 4-faches cash.
ITM Power says fundamental material patent granted in US
LONDON (Thomson Financial) - ITM Power PLC said it has been granted a patent for its fundamental materials from the US Patent Office.
The patent application, which covers both the unique crosslinked hydrophilic ionic materials and the novel production process, has been identified as two separate inventions, the company said.
Consequently, it said it has decided to allow the patent examination process to proceed under the US 'divisional process' which offers the possibility of achieving two independent patents from one original application.
LONDON (Thomson Financial) - ITM Power PLC said it has been granted a patent for its fundamental materials from the US Patent Office.
The patent application, which covers both the unique crosslinked hydrophilic ionic materials and the novel production process, has been identified as two separate inventions, the company said.
Consequently, it said it has decided to allow the patent examination process to proceed under the US 'divisional process' which offers the possibility of achieving two independent patents from one original application.
9 January 2008
ITM Power plc
("ITM" or "the Company")
Notification of Results
ITM Power Plc is pleased to announce that it will report its Interim Results for
the six month period ended 31 October 2007 on Thursday 31 January 2008.
An analyst briefing will be held at the offices of Buchanan Communications, 45
Moorfields, EC2Y.
For further information please contact:
ITM Power plc 01799 542 222
Jim Heathcote, Chief Executive Officer
Marcus Scott, Chief Financial 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 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.
ITM Power plc
("ITM" or "the Company")
Notification of Results
ITM Power Plc is pleased to announce that it will report its Interim Results for
the six month period ended 31 October 2007 on Thursday 31 January 2008.
An analyst briefing will be held at the offices of Buchanan Communications, 45
Moorfields, EC2Y.
For further information please contact:
ITM Power plc 01799 542 222
Jim Heathcote, Chief Executive Officer
Marcus Scott, Chief Financial 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 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.
ITM Power close to unveiling bi-fuel car and home refuelling system PDF Print E-mail
Written by Ben Fountain
Tuesday, 08 January 2008
Fuel cell specialist, ITM Power says it is within touching distance of being able to publicly demonstrate an ultra-green hydrogen/petrol bi-fuel car and home refuelling station.
The AIM-listed Saffron Walden company says it has identified a solution to a technical problem with the refuelling system, the only thing that is holding it back from showing off the two technologies.
CEO Jim Heathcote explained: "The externally sourced injection moulded cell modules for the demonstration Home Refueller have exceeded our requirements for safe operation at pressure of 50 bar. In addition they have been tested above our target of 75 bar but at this pressure we do not feel we have yet achieved an acceptable safety margin due to quality control issues. We expect to be able to announce we have resolved this issue shortly."
Updating the market on technical progress in 2007, ITM said that it had made further improvements to component reliability in its Hydrogen Petrol Bi-fuel car and that it was ready to make its public debut.
ITM Power has developed new materials and processes that it hopes will dramatically reduce the cost of fuel cells and electrolysers.
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.
Written by Ben Fountain
Tuesday, 08 January 2008
Fuel cell specialist, ITM Power says it is within touching distance of being able to publicly demonstrate an ultra-green hydrogen/petrol bi-fuel car and home refuelling station.
The AIM-listed Saffron Walden company says it has identified a solution to a technical problem with the refuelling system, the only thing that is holding it back from showing off the two technologies.
CEO Jim Heathcote explained: "The externally sourced injection moulded cell modules for the demonstration Home Refueller have exceeded our requirements for safe operation at pressure of 50 bar. In addition they have been tested above our target of 75 bar but at this pressure we do not feel we have yet achieved an acceptable safety margin due to quality control issues. We expect to be able to announce we have resolved this issue shortly."
Updating the market on technical progress in 2007, ITM said that it had made further improvements to component reliability in its Hydrogen Petrol Bi-fuel car and that it was ready to make its public debut.
ITM Power has developed new materials and processes that it hopes will dramatically reduce the cost of fuel cells and electrolysers.
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.
8 January 2008
ITM Power plc
("ITM" or "the Company")
Progress Report and Technical Update
ITM Power Plc is developing technology to alleviate the present dependence on
hydrocarbon fuels. The technology facilitates the production of hydrogen by
electrolysis from sustainable resources and its re-conversion using heat engines
or fuel cells.
The Company announces today a progress report on the Demonstration Home
Refueller Electrolyser Unit and that it has successfully achieved the milestone
objectives previously announced for the end of December 2007. These milestones
include:
? Construction and demonstration of 100W fuel cell stack design (with
passive hydration system);
? Development of a hydrogen-oxygen fuel cell - with estimated production
costs of <$250/kW;
? Development of 25kW electrolyser stack at production costs of <$200/kW;
? Development of one-step Membrane Electrode Assembly (MEA) production
process;
? Further development of hydrogen/petrol bi-fuel car.
These results are important steps in the Company's progress from pure research
to the development of commercially viable fuel cell and electrolyser systems.
FUEL CELL DEVELOPMENTS
A development of a pre-production fuel cell stack and hydration system
ITM has successfully developed a cell stack design which it believes is suited
for high power density operation in commercial devices and this design has been
used to construct a 100W stack. In addition, the Company has sought to reduce
the cost of the entire system by designing a passive hydration management system
based upon its low cost hydrophilic materials. The resulting fuel cell employs
the '$500/kW' membrane catalyst technology announced in June 2007 and has
operated repeatedly at powers above 100W in a number of stack configurations
(including a 5 cell, high current and a 10 cell, high voltage array).
The development of a Hydrogen-Oxygen fuel cell with an estimated production cost
of less than $250/kW
The Company is pleased to announce that it has succeeded in meeting the fuel
cell stack cost reduction target for December 2007 of less than $250/kW if
produced in accordance with the assumptions set out previously on the 18 October
2006. The reduction in cost has been achieved both by increasing the power
density per unit area of the cell and reducing the loading of the platinum
catalyst. The Company has successfully operated cells using the lowest catalyst
loading currently available from commercial suppliers.
ELECTROLYSER DEVELOPMENTS
Development of a 25kW stack.
The milestone to develop a 25kW electrolyser stack was proposed on the 31
January 2006 and was intended to provide the Company with the technical basis
necessary to approach the next significant market area which interfaces with
commercial scale renewable energy systems, either Photovoltaic or wind powered,
and commercial transportation.
A 25kW stack has been constructed using ITM's nickel (hydrogen) catalyst and low
density platinum (oxygen) catalyst, which allows it to meet the projected
production cost (for the stack) of less that $200/kW. It has operated
successfully at low pressure when tested using inputs in excess of 25kW and a
transient (i.e. 30 minute on-off) load cycle. The unit proved well able to
handle the large gas volumes associated with low pressure operation without
excessive heating or hydraulic problems.
THE 'ONE-STEP' PRODUCTION PROCESS
The basic concept of a 'one-step' method of manufacture in which the ionic
membrane is polymerised in-situ within the catalyst, electrode structure to form
the MEA or cell, is a basic part of ITM's primary patent portfolio which has now
been granted widely around the world.
Development in this area has progressed steadily with the initial objective of
supporting the engineering of the prototype Home Refueller Unit. ITM is pleased
to announce that MEAs made by a one-step process can now be produced in
pre-production batches with excellent reproducibility and performance. These
MEAs have been extensively tested in electrolyser cells as incorporated into the
25kW electrolyser stack referred to above. On this basis the 'one-step' process
is now considered by the Company to be suitable for the electrolyser production
team to utilise as appropriate.
75 bar 10kW DEMONSTRATION HOME REFUELLER UNIT
The refuelling unit involves two separate engineering activities:
(i) the development of an injection moulded cell module to house the ITM
electrolyser cells and
(ii) the development of the associated balance of plant which controls the
pressure, manages the gas flows and maintains control to ensure safe operation.
The Company appointed external design experts to lead the design and production
of the injection moulded cell modules. Two complete pre-production units have
now been built and are currently being subjected to evaluation in a rigorous
engineering test programme. In the course of this extensive programme, the units
are being tested through a sequence of increasing pressures, temperatures and
gas production rates, at each stage being critically evaluated for effective
operation and safety.
At the end of December, these units have operated repeatedly at pressures up to
50 bar, as required by the evaluation programme. In addition, all the system
components have been proof tested to the maximum design pressure of 75 bar,
while the ITM electrolyser cells had operated satisfactorily at the maximum
design power and gas production rate.
The Company and its external consultants have experienced problems of quality
control, (particularly) in the manufacture of the prototype injection moulded
cell units and, ITM now believes that these problems are understood and are
amenable to solution in the production phase.
The Hydrogen Petrol Bi-fuel car development plan has continued with further
improvements to component reliability. The car is ready for public demonstration
and this will happen once we are satisfied we have completed the refuelling
system.
Jim Heathcote, CEO ITM Power, said :
"Overall in 2007 we have made tremendous strides in the development of fuel cell
and electrolyser systems. Especially pleasing is the progress in Hydrogen Oxygen
fuel cells where we have combined very low Platinum catalyst loadings with high
power densities to achieve the $250kW Fuel Cell Stack milestone, while in
parallel developing a working 100W demonstration fuel cell based upon the MEA
technology announced in July. This is a very important first step in developing
a low cost and durable fuel cell system for widespread commercial distribution."
"The externally sourced injection moulded cell modules for the demonstration
Home Refueller have exceeded our requirements for safe operation at pressure of
50 bar. In addition they have been tested above our target of 75 bar but at this
pressure we do not feel we have yet achieved an acceptable safety margin due to
quality control issues. We expect to be able to announce we have resolved this
issue shortly."
ITM Power plc
("ITM" or "the Company")
Progress Report and Technical Update
ITM Power Plc is developing technology to alleviate the present dependence on
hydrocarbon fuels. The technology facilitates the production of hydrogen by
electrolysis from sustainable resources and its re-conversion using heat engines
or fuel cells.
The Company announces today a progress report on the Demonstration Home
Refueller Electrolyser Unit and that it has successfully achieved the milestone
objectives previously announced for the end of December 2007. These milestones
include:
? Construction and demonstration of 100W fuel cell stack design (with
passive hydration system);
? Development of a hydrogen-oxygen fuel cell - with estimated production
costs of <$250/kW;
? Development of 25kW electrolyser stack at production costs of <$200/kW;
? Development of one-step Membrane Electrode Assembly (MEA) production
process;
? Further development of hydrogen/petrol bi-fuel car.
These results are important steps in the Company's progress from pure research
to the development of commercially viable fuel cell and electrolyser systems.
FUEL CELL DEVELOPMENTS
A development of a pre-production fuel cell stack and hydration system
ITM has successfully developed a cell stack design which it believes is suited
for high power density operation in commercial devices and this design has been
used to construct a 100W stack. In addition, the Company has sought to reduce
the cost of the entire system by designing a passive hydration management system
based upon its low cost hydrophilic materials. The resulting fuel cell employs
the '$500/kW' membrane catalyst technology announced in June 2007 and has
operated repeatedly at powers above 100W in a number of stack configurations
(including a 5 cell, high current and a 10 cell, high voltage array).
The development of a Hydrogen-Oxygen fuel cell with an estimated production cost
of less than $250/kW
The Company is pleased to announce that it has succeeded in meeting the fuel
cell stack cost reduction target for December 2007 of less than $250/kW if
produced in accordance with the assumptions set out previously on the 18 October
2006. The reduction in cost has been achieved both by increasing the power
density per unit area of the cell and reducing the loading of the platinum
catalyst. The Company has successfully operated cells using the lowest catalyst
loading currently available from commercial suppliers.
ELECTROLYSER DEVELOPMENTS
Development of a 25kW stack.
The milestone to develop a 25kW electrolyser stack was proposed on the 31
January 2006 and was intended to provide the Company with the technical basis
necessary to approach the next significant market area which interfaces with
commercial scale renewable energy systems, either Photovoltaic or wind powered,
and commercial transportation.
A 25kW stack has been constructed using ITM's nickel (hydrogen) catalyst and low
density platinum (oxygen) catalyst, which allows it to meet the projected
production cost (for the stack) of less that $200/kW. It has operated
successfully at low pressure when tested using inputs in excess of 25kW and a
transient (i.e. 30 minute on-off) load cycle. The unit proved well able to
handle the large gas volumes associated with low pressure operation without
excessive heating or hydraulic problems.
THE 'ONE-STEP' PRODUCTION PROCESS
The basic concept of a 'one-step' method of manufacture in which the ionic
membrane is polymerised in-situ within the catalyst, electrode structure to form
the MEA or cell, is a basic part of ITM's primary patent portfolio which has now
been granted widely around the world.
Development in this area has progressed steadily with the initial objective of
supporting the engineering of the prototype Home Refueller Unit. ITM is pleased
to announce that MEAs made by a one-step process can now be produced in
pre-production batches with excellent reproducibility and performance. These
MEAs have been extensively tested in electrolyser cells as incorporated into the
25kW electrolyser stack referred to above. On this basis the 'one-step' process
is now considered by the Company to be suitable for the electrolyser production
team to utilise as appropriate.
75 bar 10kW DEMONSTRATION HOME REFUELLER UNIT
The refuelling unit involves two separate engineering activities:
(i) the development of an injection moulded cell module to house the ITM
electrolyser cells and
(ii) the development of the associated balance of plant which controls the
pressure, manages the gas flows and maintains control to ensure safe operation.
The Company appointed external design experts to lead the design and production
of the injection moulded cell modules. Two complete pre-production units have
now been built and are currently being subjected to evaluation in a rigorous
engineering test programme. In the course of this extensive programme, the units
are being tested through a sequence of increasing pressures, temperatures and
gas production rates, at each stage being critically evaluated for effective
operation and safety.
At the end of December, these units have operated repeatedly at pressures up to
50 bar, as required by the evaluation programme. In addition, all the system
components have been proof tested to the maximum design pressure of 75 bar,
while the ITM electrolyser cells had operated satisfactorily at the maximum
design power and gas production rate.
The Company and its external consultants have experienced problems of quality
control, (particularly) in the manufacture of the prototype injection moulded
cell units and, ITM now believes that these problems are understood and are
amenable to solution in the production phase.
The Hydrogen Petrol Bi-fuel car development plan has continued with further
improvements to component reliability. The car is ready for public demonstration
and this will happen once we are satisfied we have completed the refuelling
system.
Jim Heathcote, CEO ITM Power, said :
"Overall in 2007 we have made tremendous strides in the development of fuel cell
and electrolyser systems. Especially pleasing is the progress in Hydrogen Oxygen
fuel cells where we have combined very low Platinum catalyst loadings with high
power densities to achieve the $250kW Fuel Cell Stack milestone, while in
parallel developing a working 100W demonstration fuel cell based upon the MEA
technology announced in July. This is a very important first step in developing
a low cost and durable fuel cell system for widespread commercial distribution."
"The externally sourced injection moulded cell modules for the demonstration
Home Refueller have exceeded our requirements for safe operation at pressure of
50 bar. In addition they have been tested above our target of 75 bar but at this
pressure we do not feel we have yet achieved an acceptable safety margin due to
quality control issues. We expect to be able to announce we have resolved this
issue shortly."
11/12/2007
In a strong endorsement of its technology, Saffron Walden-based fuel cell developer ITM Power is to work with the US Navy’s research department to help power unmanned submarines.
The Naval Undersea Warfare Center Division, Newport, Rhode Island, will work with ITM to develop its fuel cells so that they can function with liquid instead of air – as they currently do – and thus be employed deep underwater. A statement from ITM Power explains that it ‘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’.
‘We believe electrolyser and fuel cell systems have many military applications,’ added Jim Heathcote, chief executive of ITM, ‘and we hope this agreement will open the door to large potential markets for our technology.’
Shares in ITM, which announced a deal with Boeing to design a refuelling station for unmanned aircraft back in November, have vacillated between 100p and 150p over the course of the year and finished 6p higher at 130p today.
In a strong endorsement of its technology, Saffron Walden-based fuel cell developer ITM Power is to work with the US Navy’s research department to help power unmanned submarines.
The Naval Undersea Warfare Center Division, Newport, Rhode Island, will work with ITM to develop its fuel cells so that they can function with liquid instead of air – as they currently do – and thus be employed deep underwater. A statement from ITM Power explains that it ‘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’.
‘We believe electrolyser and fuel cell systems have many military applications,’ added Jim Heathcote, chief executive of ITM, ‘and we hope this agreement will open the door to large potential markets for our technology.’
Shares in ITM, which announced a deal with Boeing to design a refuelling station for unmanned aircraft back in November, have vacillated between 100p and 150p over the course of the year and finished 6p higher at 130p today.
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Europe | ITM Power PLC quote - chart - all headlines - analyst actions - add to watchlist - current ratings
Frankfurt: IJ8.FSE at 9.10AM ET €1.58 +0.19 (+13.67%)
ITM Power "buy"
Tuesday, December 11, 2007 9:39:25 AM ET
Panmure Gordon & Co
LONDON, December 11 (newratings.com) - Analyst Mark Davis of Panmure Gordon maintains his "buy" rating on ITM Power PLC (ticker: IJ8). The target price is set to 340p.
In a research note published this morning, the analyst mentions that the company has entered into an R&D agreement with the US Naval Undersea Warfare Center. The agreement involves the development of advanced power systems for unmanned undersea vehicles, focused on ITM Power’s dual liquid fuel cell technology, the analyst says. The deal reflects another significant recognition for the company’s technology, Panmure Gordon adds.
THQ "strong buy," target price reduced 01/24/08
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Market
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Europe | ITM Power PLC quote - chart - all headlines - analyst actions - add to watchlist - current ratings
Frankfurt: IJ8.FSE at 9.10AM ET €1.58 +0.19 (+13.67%)
ITM Power "buy"
Tuesday, December 11, 2007 9:39:25 AM ET
Panmure Gordon & Co
LONDON, December 11 (newratings.com) - Analyst Mark Davis of Panmure Gordon maintains his "buy" rating on ITM Power PLC (ticker: IJ8). The target price is set to 340p.
In a research note published this morning, the analyst mentions that the company has entered into an R&D agreement with the US Naval Undersea Warfare Center. The agreement involves the development of advanced power systems for unmanned undersea vehicles, focused on ITM Power’s dual liquid fuel cell technology, the analyst says. The deal reflects another significant recognition for the company’s technology, Panmure Gordon adds.
LONDON (Thomson Financial) - ITM Power, a developer of hydrogen fuel cell technology, reported a widened pretax loss of 1.91 mln stg for the six months to end-Oct 2007, against a loss of 1.42 mln for the same period in 2006, which it said was in line with budget and reflected an increased level of development activity.
The company, which is collaborating with Boeing Research & Technology Europe and the US Naval Undersea Warfare Center on fuel cell construction methods, said it has completed the initial stages of its new production facility in Sheffield and it would produce products for the market later this year.
"ITM has made excellent progress and is now entering the commercial phase of its development," the company said.
At the period end, the company held cash and cash equivalents of 29.68 mln stg.
It is not paying a dividend in accordance with its policy stated at the time of its IPO.
The company, which is collaborating with Boeing Research & Technology Europe and the US Naval Undersea Warfare Center on fuel cell construction methods, said it has completed the initial stages of its new production facility in Sheffield and it would produce products for the market later this year.
"ITM has made excellent progress and is now entering the commercial phase of its development," the company said.
At the period end, the company held cash and cash equivalents of 29.68 mln stg.
It is not paying a dividend in accordance with its policy stated at the time of its IPO.
starker Kurssturz >40% die letzten Tage...
This useful post appeared earlier today on another BB:
2GAME - 31 Jan'08 - 16:09 - 224 of 236
after attending the analyst conference today this is what is going on:
there is a problem with the manufacturing of the fuel cells which has almost been resolved this is bubbles within the injection moulding and basically they are adjusting the temp to get it right to remove the bubbles.
the latest date for the demo is the begining of april but it should be way b4 then.
one thing to watch is the novel hydrogen and oxygen fuel cell which is effectively a closed loop system (they have filed a patent on this which is fantastic news) so this equates to a very good off grid application! shall we say U.S. mobile phone mast back up power units.
once their plant is up and running they will show numerous interested parties around to show their capabilities so expect licencing and technical partners to be queuing up at the door.
they are doing a 25kw electrolyser and going to put it into a series of 4 so therefore creating a 100kw electrolsyer which is very good at storing cleantech energy (wind, solar, wave etc)
hope this helps...the recent seller which is now clear was a french institution and the US institutions are now sniffing around (at least 2 i know of).
hope this helps. keep the faith.
2GAME - 31 Jan'08 - 16:09 - 224 of 236
after attending the analyst conference today this is what is going on:
there is a problem with the manufacturing of the fuel cells which has almost been resolved this is bubbles within the injection moulding and basically they are adjusting the temp to get it right to remove the bubbles.
the latest date for the demo is the begining of april but it should be way b4 then.
one thing to watch is the novel hydrogen and oxygen fuel cell which is effectively a closed loop system (they have filed a patent on this which is fantastic news) so this equates to a very good off grid application! shall we say U.S. mobile phone mast back up power units.
once their plant is up and running they will show numerous interested parties around to show their capabilities so expect licencing and technical partners to be queuing up at the door.
they are doing a 25kw electrolyser and going to put it into a series of 4 so therefore creating a 100kw electrolsyer which is very good at storing cleantech energy (wind, solar, wave etc)
hope this helps...the recent seller which is now clear was a french institution and the US institutions are now sniffing around (at least 2 i know of).
hope this helps. keep the faith.
Thu, 31 Jan, 12:34 GMT
INTERVIEW - ITM Power aims to put 1kW fuel cell into production in H2 2009
LONDON (Thomson IM) - ITM Power, a developer of hydrogen fuel cell technology, said it intends to start commercial production of 1kW fuel cells in 2009, after increased development costs led to pretax losses widening to 1.91 mln stg at the half-year stage.
The company's scientists are shifting focus to fuel cell production after making significant progress in electrolyser systems, chief executive Jim Heathcote said in a telephone interview.
'We will begin the production of a 1kW fuel cell in the second half of next year,' he said.
The research behind the company's electrolyser technology is mostly complete, he said, and test production will begin at the company's new 15,000 sq ft facility in Sheffield in the first quarter of 2008.
A range of electrolysers -- which use energy from renewable sources to produce hydrogen, which can be stored and used in clean energy applications -- is being developed, including a low-pressure 10kW model for use in low-carbon housing, a 5kW system for wind or solar power systems, and a 1-3kW model for laboratories.
Heathcote said the company expects to ship the first units to third parties for testing towards the end of the second quarter or early in the third, once early production problems are ironed out. 'We expect to make a lot of mistakes in starting production,' he said.
The 10kW home electrolyser, for example, has encountered some problems in the advanced injection moulding method used in its construction, which still needs to be perfected to ensure its operation is robust, he said.
ITM is also developing a new gas storage system for both hydrogen and oxygen, which it will pair with one of its electrolysers, as part of its 1kW fuel cell system, he said.
The company's technology has attracted interest from manufacturers in sectors including back-up power, fork-lift trucks and automotive, Heathcote said. It is also collaborating with Boeing Research & Technology Europe and the US Naval Undersea Warfare Center on fuel cell construction methods.
'The purpose of what we are doing is twofold,' he said. 'We want to bring the first products to market to show (the technology) works, and we a building a factory for state-of-the-art production which we will then licence for commercial use.'
ITM Power reported a widened pretax loss of 1.91 mln stg for the six months to end-Oct 2007, against 1.42 mln for the same period in 2006. At the period end, the company held cash and cash equivalents of 29.68 mln stg.
It is not paying a dividend in accordance with its policy stated at the time of its IPO.
The company's shares edged higher following the in-line first half numbers, and after Panmure Gordon repeated its 'buy' recommendation.
The broker said the company's costs continued to be well contained, but the development of the home refuelling system was likely to delay the launch of its bi-fuel car technology for a few months.
Panmure reduced its revenue expectations for 2009 to 3.5 mln stg from 10.4 mln, partly due to the refuelling system delay but also due to the lack of visibility and a different electrolyser focus for the business. It also reduced its target to 160 pence from 340.
At 11.24 am, ITM Power was up 3/4 pence, or 0.79 pct, to 95-3/4p.
INTERVIEW - ITM Power aims to put 1kW fuel cell into production in H2 2009
LONDON (Thomson IM) - ITM Power, a developer of hydrogen fuel cell technology, said it intends to start commercial production of 1kW fuel cells in 2009, after increased development costs led to pretax losses widening to 1.91 mln stg at the half-year stage.
The company's scientists are shifting focus to fuel cell production after making significant progress in electrolyser systems, chief executive Jim Heathcote said in a telephone interview.
'We will begin the production of a 1kW fuel cell in the second half of next year,' he said.
The research behind the company's electrolyser technology is mostly complete, he said, and test production will begin at the company's new 15,000 sq ft facility in Sheffield in the first quarter of 2008.
A range of electrolysers -- which use energy from renewable sources to produce hydrogen, which can be stored and used in clean energy applications -- is being developed, including a low-pressure 10kW model for use in low-carbon housing, a 5kW system for wind or solar power systems, and a 1-3kW model for laboratories.
Heathcote said the company expects to ship the first units to third parties for testing towards the end of the second quarter or early in the third, once early production problems are ironed out. 'We expect to make a lot of mistakes in starting production,' he said.
The 10kW home electrolyser, for example, has encountered some problems in the advanced injection moulding method used in its construction, which still needs to be perfected to ensure its operation is robust, he said.
ITM is also developing a new gas storage system for both hydrogen and oxygen, which it will pair with one of its electrolysers, as part of its 1kW fuel cell system, he said.
The company's technology has attracted interest from manufacturers in sectors including back-up power, fork-lift trucks and automotive, Heathcote said. It is also collaborating with Boeing Research & Technology Europe and the US Naval Undersea Warfare Center on fuel cell construction methods.
'The purpose of what we are doing is twofold,' he said. 'We want to bring the first products to market to show (the technology) works, and we a building a factory for state-of-the-art production which we will then licence for commercial use.'
ITM Power reported a widened pretax loss of 1.91 mln stg for the six months to end-Oct 2007, against 1.42 mln for the same period in 2006. At the period end, the company held cash and cash equivalents of 29.68 mln stg.
It is not paying a dividend in accordance with its policy stated at the time of its IPO.
The company's shares edged higher following the in-line first half numbers, and after Panmure Gordon repeated its 'buy' recommendation.
The broker said the company's costs continued to be well contained, but the development of the home refuelling system was likely to delay the launch of its bi-fuel car technology for a few months.
Panmure reduced its revenue expectations for 2009 to 3.5 mln stg from 10.4 mln, partly due to the refuelling system delay but also due to the lack of visibility and a different electrolyser focus for the business. It also reduced its target to 160 pence from 340.
At 11.24 am, ITM Power was up 3/4 pence, or 0.79 pct, to 95-3/4p.
ITM Power
Our view: Speculative buy
Share price: 98p (+3p)
ITM Power floated in 2004 with the tantalising promise of developing hydrogen fuel cells. The growing demand for efficient forms of renewable energy has placed great pressure on ITM to succeed.
But so far no one is helping pay for the development work. That has been left to shareholders. ITM presents a convincing case for its technology but it still has someway to go.
The company's electrolyser technology is aimed at producing hydrogen from a combination of water and low-cost electricity.
ITM has adapted a Ford Focus to operate using pure hydrogen while BMW has developed its own hydrogen-powered cars but admits they are still 20-25 years from being on the road in significant numbers.
Latest half-year results show a widening of losses from £1.42m to £1.9m. A manufacturing glitch has now delayed further work on the bi-fuel car. The electrolyser which is the heart of the device has developed flaws under pressure.
ITM is burning cash at around £4m a year but with £29m in the bank is under no immediate pressure. But it badly needs firm evidence that its technology is suited to volume manufacturing.
Listed at 50p, the shares have been volatile, reflecting progress, or lack of it, at various times. At this stage they remain one for investors happy to take a punt on a renewable energy company finding a commercially successful product.
Our view: Speculative buy
Share price: 98p (+3p)
ITM Power floated in 2004 with the tantalising promise of developing hydrogen fuel cells. The growing demand for efficient forms of renewable energy has placed great pressure on ITM to succeed.
But so far no one is helping pay for the development work. That has been left to shareholders. ITM presents a convincing case for its technology but it still has someway to go.
The company's electrolyser technology is aimed at producing hydrogen from a combination of water and low-cost electricity.
ITM has adapted a Ford Focus to operate using pure hydrogen while BMW has developed its own hydrogen-powered cars but admits they are still 20-25 years from being on the road in significant numbers.
Latest half-year results show a widening of losses from £1.42m to £1.9m. A manufacturing glitch has now delayed further work on the bi-fuel car. The electrolyser which is the heart of the device has developed flaws under pressure.
ITM is burning cash at around £4m a year but with £29m in the bank is under no immediate pressure. But it badly needs firm evidence that its technology is suited to volume manufacturing.
Listed at 50p, the shares have been volatile, reflecting progress, or lack of it, at various times. At this stage they remain one for investors happy to take a punt on a renewable energy company finding a commercially successful product.
ITM poised for production
By David Blackwell
Published: February 1 2008 02:00 | Last updated: February 1 2008 02:00
ITM Power- two years ago one of the high-fliers among a clutch of renewable energy specialists on Aim - is expecting to start generating revenues this year.
Jim Heathcote, chief executive, said the company had been inwardly focused for the past three years but was now on the brink of shipping products. The new assembly plant in Sheffield is expected to begin in the second quarter low-volume production of electrolysers using its patented plate technology.
The units use cheap rate or solar-generated electricity to produce hydrogen from water. Mr Heathcote said an experimental Ford Focus had already been built capable of using hydrogen as a direct substitute for petrol over short distances.
The shares, which were priced at 320p for a placing that raised £30m in April 2006, closed up 3p at 98p.
The company ended its first half to October with £29.7m in cash. It is expected to have an operating cash burn of about £5m in the year to April 2009, when Panmure Gordon, its broker, is forecasting revenues of £3.5m, down from a previous forecast of £10.4m.
The interim pre-tax loss increased from £1.4m to £1.9m. Since the period end the company has announced deals with the US Navy and Boeing on fuelling unmanned vehicles. David Blackwell
By David Blackwell
Published: February 1 2008 02:00 | Last updated: February 1 2008 02:00
ITM Power- two years ago one of the high-fliers among a clutch of renewable energy specialists on Aim - is expecting to start generating revenues this year.
Jim Heathcote, chief executive, said the company had been inwardly focused for the past three years but was now on the brink of shipping products. The new assembly plant in Sheffield is expected to begin in the second quarter low-volume production of electrolysers using its patented plate technology.
The units use cheap rate or solar-generated electricity to produce hydrogen from water. Mr Heathcote said an experimental Ford Focus had already been built capable of using hydrogen as a direct substitute for petrol over short distances.
The shares, which were priced at 320p for a placing that raised £30m in April 2006, closed up 3p at 98p.
The company ended its first half to October with £29.7m in cash. It is expected to have an operating cash burn of about £5m in the year to April 2009, when Panmure Gordon, its broker, is forecasting revenues of £3.5m, down from a previous forecast of £10.4m.
The interim pre-tax loss increased from £1.4m to £1.9m. Since the period end the company has announced deals with the US Navy and Boeing on fuelling unmanned vehicles. David Blackwell
Publication Date:28-Mar-2008
07:00 AM US Eastern Timezone
Source:ITM Power
Collaboration agreement with Roush Technologies Limited to accelerate the arrival of hydrogen vehicles
ITM Power plc (AIM: ITM) is pleased to announce a collaboration agreement with Roush Technologies Limited in a unique project to realise hydrogen-powered, emission-free vehicles on UK roads. Roush Technologies is one of the world's foremost automotive design, engineering and development groups and the collaboration agreement is expected to accelerate CO2-free, hydrogen-fuelled commercial vehicles operating in Britain.
Roush Technologies, which already has extensive experience in the commercial vehicle sector, will be responsible for both adapting existing internal combustion-engines in vehicles and researching the development of new power units to utilise hydrogen fuel.
ITM will provide the breakthrough refuelling solution by enabling vehicle operators to generate their own hydrogen fuel. Using a patented electrolyser, due to enter production at ITM's special facility in Sheffield later this year, it is possible to make hydrogen fuel wherever there is a source of electricity and water. The advances in electrolysis technology that ITM has achieved elegantly address the hydrogen infrastructure issue by using the already developed electricity and water distribution network.
The electrolyser can produce hydrogen from water and any source of electricity including off-peak or renewable energy - electricity generated by wind, wave or solar power. Unlike petrol or diesel, when hydrogen burns, it releases no CO2, merely water vapour.
This agreement will enable both parties to jointly offer a complete package of hydrogen refuelling systems and hydrogen vehicles to customers. It is anticipated that first sales will be to large commercial or local government organisations that wish to demonstrate a commitment to reducing carbon dioxide emissions. Marketing to third parties will commence as soon as possible.
Jim Heathcote, CEO ITM Power, said:
"This is a significant co-operative agreement between two companies who are committed to bringing practical hydrogen power into the automotive market place within a dramatically reduced timeframe. Whilst it initially involves the commercial vehicle sector, it will demonstrate the wider potential of hydrogen technology to help cut CO2 emissions and reduce our dependence on fossil fuels."
Andrew Williams, Executive Chairman of Roush Technologies, added:
"Both our companies recognise that bringing emission-free energy technologies forward and to market, requires an integrated approach. This involves the production and supply chain for the fuel - together with the development and applications engineering which enables its effective usage. In context therefore, this agreement acknowledges the considerable synergy between us, and the major benefits and opportunities which will flow from it."
07:00 AM US Eastern Timezone
Source:ITM Power
Collaboration agreement with Roush Technologies Limited to accelerate the arrival of hydrogen vehicles
ITM Power plc (AIM: ITM) is pleased to announce a collaboration agreement with Roush Technologies Limited in a unique project to realise hydrogen-powered, emission-free vehicles on UK roads. Roush Technologies is one of the world's foremost automotive design, engineering and development groups and the collaboration agreement is expected to accelerate CO2-free, hydrogen-fuelled commercial vehicles operating in Britain.
Roush Technologies, which already has extensive experience in the commercial vehicle sector, will be responsible for both adapting existing internal combustion-engines in vehicles and researching the development of new power units to utilise hydrogen fuel.
ITM will provide the breakthrough refuelling solution by enabling vehicle operators to generate their own hydrogen fuel. Using a patented electrolyser, due to enter production at ITM's special facility in Sheffield later this year, it is possible to make hydrogen fuel wherever there is a source of electricity and water. The advances in electrolysis technology that ITM has achieved elegantly address the hydrogen infrastructure issue by using the already developed electricity and water distribution network.
The electrolyser can produce hydrogen from water and any source of electricity including off-peak or renewable energy - electricity generated by wind, wave or solar power. Unlike petrol or diesel, when hydrogen burns, it releases no CO2, merely water vapour.
This agreement will enable both parties to jointly offer a complete package of hydrogen refuelling systems and hydrogen vehicles to customers. It is anticipated that first sales will be to large commercial or local government organisations that wish to demonstrate a commitment to reducing carbon dioxide emissions. Marketing to third parties will commence as soon as possible.
Jim Heathcote, CEO ITM Power, said:
"This is a significant co-operative agreement between two companies who are committed to bringing practical hydrogen power into the automotive market place within a dramatically reduced timeframe. Whilst it initially involves the commercial vehicle sector, it will demonstrate the wider potential of hydrogen technology to help cut CO2 emissions and reduce our dependence on fossil fuels."
Andrew Williams, Executive Chairman of Roush Technologies, added:
"Both our companies recognise that bringing emission-free energy technologies forward and to market, requires an integrated approach. This involves the production and supply chain for the fuel - together with the development and applications engineering which enables its effective usage. In context therefore, this agreement acknowledges the considerable synergy between us, and the major benefits and opportunities which will flow from it."
ITM Power says non-exec chairman Hargreaves ups stake in company to 8.59 percent
LONDON (Thomson Financial) - UK smallcap ITM Power Plc. said non-executive chairman Peter Hargreaves bought 1.84 million shares from engineering director Jonathan Lloyd at 54.375 pence each.
With this deal, Hargreaves has increased his stake to about 8.775 million shares or 8.59 percent, leaving Lloyd with 10.64 million shares, or 10.42 percent in the company.
LONDON (Thomson Financial) - UK smallcap ITM Power Plc. said non-executive chairman Peter Hargreaves bought 1.84 million shares from engineering director Jonathan Lloyd at 54.375 pence each.
With this deal, Hargreaves has increased his stake to about 8.775 million shares or 8.59 percent, leaving Lloyd with 10.64 million shares, or 10.42 percent in the company.
June 11, 2008
In the know: ITM Power, Antisoma, Strategic Thought Group
Gilts
Gilt prices held relatively firm after Monday’s sudden drop as investors adjusted to a market that expects three more interest-rate rises by the end of the year. Gilt yields were close to unchanged. The June long gilt future was down 19 ticks at 104.39 as UK industrial production was strong, fuelling expectations of a rate rise.
Rumour of the day
ITM Power jumped 11¾p to 56½p as short-sellers closed positions after talk that it was close to unveiling its dual-fuel, hydrogen/petrol-powered Ford car. It will launch a prototype hydrogen home refuelling kit. Panmure Gordon, the company’s broker, has cut its target price from 170p to 100p, after delays in finding manufacturers for the products.
In the know: ITM Power, Antisoma, Strategic Thought Group
Gilts
Gilt prices held relatively firm after Monday’s sudden drop as investors adjusted to a market that expects three more interest-rate rises by the end of the year. Gilt yields were close to unchanged. The June long gilt future was down 19 ticks at 104.39 as UK industrial production was strong, fuelling expectations of a rate rise.
Rumour of the day
ITM Power jumped 11¾p to 56½p as short-sellers closed positions after talk that it was close to unveiling its dual-fuel, hydrogen/petrol-powered Ford car. It will launch a prototype hydrogen home refuelling kit. Panmure Gordon, the company’s broker, has cut its target price from 170p to 100p, after delays in finding manufacturers for the products.
LONDON (Thomson Financial) - ITM Power Plc. said it will today launch a hydrogen-based home refuelling system, capable of producing the gas from water and electricity, which it says could ultimately offer drivers an alternative to conventional fuels and provide a new power source for homes and businesses.
The company will also launch a hydrogen-powered bi-fuel car today in London.
The company will also launch a hydrogen-powered bi-fuel car today in London.
LONDON (Thomson Financial) - ITM Power Plc. posted a bigger FY loss but said its outlook has "never looked brighter", citing increasing momentum for hydrogen as one of the primary sources of renewable power.
For the year to Apr. 30, ITM's pretax loss widened to 3.99 million pounds from a loss of 2.74 million pounds last year.
The loss, the company said, was in line with its budget and reflected the increased level of development activity during the year.
It proposed no dividend for the year. TFN.newsdesk@thomson.com ssa/jlc
For the year to Apr. 30, ITM's pretax loss widened to 3.99 million pounds from a loss of 2.74 million pounds last year.
The loss, the company said, was in line with its budget and reflected the increased level of development activity during the year.
It proposed no dividend for the year. TFN.newsdesk@thomson.com ssa/jlc
RNS Number : 9464Z
ITM Power PLC
28 July 2008
For Immediate Release 28 July 2008
ITM Power plc
("ITM" or "the Company")
Full year Results
for the year ended 30 April 2008 ("FY 2008")
ITM Power Plc (AIM:ITM) is a clean energy company focused on developing technology to alleviate the present dependence on hydrocarbon fuels. Today it announces its Final Results for the year ended 30 April 2008.
Highlights
· Demonstration and public launch of Home Refueling System and Hydrogen Petrol Bi-fuel car
· Important agreements signed for medium term applications of ITM technology:
· Co-operation Research and Development Agreement (CRADA) with United States Naval Undersea Warfare Center
· Agreement with Roush Technologies (UK) Limited to jointly market hydrogen vehicles and refueling systems
· Key US patent granted for ITM*s unique cross linked hydrophilic ionic materials
· Cooperating with Renewable Energy International on grid independent solar hydrogen homes in the USA and Caribbean
· New commercial initiatives:
· Program to develop 1kW fuel cell for commercial production in late 2009
· Development of a High Pressure Refueling unit for industrial or clean local transport applications
· Design of a low pressure 10kW electrolyser for use in *zero carbon* domestic housing projects
· Design of a 1-3kW electrolyser for on site hydrogen generation for laboratories and other low-demand customers
· Pre tax loss for the period increased from £2.7 million to £4.0 million in line with budget and reflects the increased level of development activity which has taken place in FY 2008
· Cash and short term deposits as at 30 April 2008 - £26.9 million
· Production Plant completed on time and budget
Peter Hargreaves, Chairman of ITM commented:
"It is my belief that in the next twelve months hydrogen will be increasingly considered and discussed in connection with pollution free transport and its use in conjunction with renewable power. We shall be at the forefront of promoting hydrogen and we also trust that you will see ITM increasingly mentioned in the media."
ITM Power PLC
28 July 2008
For Immediate Release 28 July 2008
ITM Power plc
("ITM" or "the Company")
Full year Results
for the year ended 30 April 2008 ("FY 2008")
ITM Power Plc (AIM:ITM) is a clean energy company focused on developing technology to alleviate the present dependence on hydrocarbon fuels. Today it announces its Final Results for the year ended 30 April 2008.
Highlights
· Demonstration and public launch of Home Refueling System and Hydrogen Petrol Bi-fuel car
· Important agreements signed for medium term applications of ITM technology:
· Co-operation Research and Development Agreement (CRADA) with United States Naval Undersea Warfare Center
· Agreement with Roush Technologies (UK) Limited to jointly market hydrogen vehicles and refueling systems
· Key US patent granted for ITM*s unique cross linked hydrophilic ionic materials
· Cooperating with Renewable Energy International on grid independent solar hydrogen homes in the USA and Caribbean
· New commercial initiatives:
· Program to develop 1kW fuel cell for commercial production in late 2009
· Development of a High Pressure Refueling unit for industrial or clean local transport applications
· Design of a low pressure 10kW electrolyser for use in *zero carbon* domestic housing projects
· Design of a 1-3kW electrolyser for on site hydrogen generation for laboratories and other low-demand customers
· Pre tax loss for the period increased from £2.7 million to £4.0 million in line with budget and reflects the increased level of development activity which has taken place in FY 2008
· Cash and short term deposits as at 30 April 2008 - £26.9 million
· Production Plant completed on time and budget
Peter Hargreaves, Chairman of ITM commented:
"It is my belief that in the next twelve months hydrogen will be increasingly considered and discussed in connection with pollution free transport and its use in conjunction with renewable power. We shall be at the forefront of promoting hydrogen and we also trust that you will see ITM increasingly mentioned in the media."
RNS Number : 0911C
ITM Power PLC
27 August 2008
For filings with the FSA include the annex
For filings with issuer exclude the annex
TR-1: Notifications of Major Interests in Shares
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:
ITM Power Plc.
ITM LN
GB00B0130H42
2. Reason for notification (yes/no)
An acquisition or disposal of voting rights
Y
An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
N
An event changing the breakdown of voting rights
N
Other (please specify):______________
N
3. Full name of person(s) subject to notification obligation:
KBC Asset Management Ltd. (As controller of the voting rights directly or indirectly via a subsidiary.)
4. Full name of shareholder(s) (if different from 3):
KBC Asset Management Ltd.
KBC Institutional Alternative Energy Fund
Samsung Alternative Energy Fund
KBC Asset Management International Ltd.-
(Subsidiary of KBC Asset Management Ltd)
Calvert Asset Management Company Inc
New York City Teachers Retirement System
KBC Asset Management NV.
(Portfolio managed by KBC Asset Management NV and thereby controlling the voting rights)
KBC Eco Fund Alternative Energy (sub fund of KBC ECO Fund, Belgian domiciled CIS)
5. Date of transaction (and date on which the threshold is crossed or reached if different):
Consolidated holdings breached 4% limit on the 19/08/2008.
6. Date on which issuer notified:
21/08/2008
7. Threshold(s) that is/are crossed or reached:
The 4% threshold is breached.
8: Notified Details
A: Voting rights attached to shares
Class/type of shares
If possible use ISIN code
Situation previous to the triggering transaction
Resulting situation after the triggering transaction
Number of shares
Number of voting rights
Number of shares
Number of voting rights
Percentage of voting rights
Direct
Indirect
Direct
Indirect
GB00B0130H42
4,049,608
4,049,608
4,089,693
0
4,089,693
0
4.01%
B: Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument
Expiration date
Exercise/ conversion period/date
No. of voting rights that may be acquired (if the instrument exercised/converted)
Percentage of voting rights
Total (A+B)
Number of voting rights
Percentage of voting rights
4,089,693
4.01%
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:
Proxy Voting:
10. Name of proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:
13. Additional information:
14 Contact name:
15. Contact telephone number:
For notes on how to complete form TR-1 please see the FSA website.
This information is provided by RNS
The company news service from the London Stock Exchange
END
ITM Power PLC
27 August 2008
For filings with the FSA include the annex
For filings with issuer exclude the annex
TR-1: Notifications of Major Interests in Shares
1. Identity of the issuer or the underlying issuer of existing shares to which voting rights are attached:
ITM Power Plc.
ITM LN
GB00B0130H42
2. Reason for notification (yes/no)
An acquisition or disposal of voting rights
Y
An acquisition or disposal of financial instruments which may result in the acquisition of shares already issued to which voting rights are attached
N
An event changing the breakdown of voting rights
N
Other (please specify):______________
N
3. Full name of person(s) subject to notification obligation:
KBC Asset Management Ltd. (As controller of the voting rights directly or indirectly via a subsidiary.)
4. Full name of shareholder(s) (if different from 3):
KBC Asset Management Ltd.
KBC Institutional Alternative Energy Fund
Samsung Alternative Energy Fund
KBC Asset Management International Ltd.-
(Subsidiary of KBC Asset Management Ltd)
Calvert Asset Management Company Inc
New York City Teachers Retirement System
KBC Asset Management NV.
(Portfolio managed by KBC Asset Management NV and thereby controlling the voting rights)
KBC Eco Fund Alternative Energy (sub fund of KBC ECO Fund, Belgian domiciled CIS)
5. Date of transaction (and date on which the threshold is crossed or reached if different):
Consolidated holdings breached 4% limit on the 19/08/2008.
6. Date on which issuer notified:
21/08/2008
7. Threshold(s) that is/are crossed or reached:
The 4% threshold is breached.
8: Notified Details
A: Voting rights attached to shares
Class/type of shares
If possible use ISIN code
Situation previous to the triggering transaction
Resulting situation after the triggering transaction
Number of shares
Number of voting rights
Number of shares
Number of voting rights
Percentage of voting rights
Direct
Indirect
Direct
Indirect
GB00B0130H42
4,049,608
4,049,608
4,089,693
0
4,089,693
0
4.01%
B: Financial Instruments
Resulting situation after the triggering transaction
Type of financial instrument
Expiration date
Exercise/ conversion period/date
No. of voting rights that may be acquired (if the instrument exercised/converted)
Percentage of voting rights
Total (A+B)
Number of voting rights
Percentage of voting rights
4,089,693
4.01%
9. Chain of controlled undertakings through which the voting rights and /or the financial instruments are effectively held, if applicable:
Proxy Voting:
10. Name of proxy holder:
11. Number of voting rights proxy holder will cease to hold:
12. Date on which proxy holder will cease to hold voting rights:
13. Additional information:
14 Contact name:
15. Contact telephone number:
For notes on how to complete form TR-1 please see the FSA website.
This information is provided by RNS
The company news service from the London Stock Exchange
END
11.09.2008 14:09
Hydrogen Engine Center Delivers Generator Set to ITM Power
Hydrogen Engine Center, (News) Inc., (OTC BB: HYEG) (HEC) developer of systems and processes used in the design, manufacture and distribution of alternative fuel internal combustion engines, engine controls and generator systems, has announced the delivery of an 8kW hydrogen-fueled generator set to ITM Power Plc (News) (ITM) for demonstration purposes in the United Kingdom. The delivery of the unit which has been developed and is sized to be suitable for use in conjunction with the ITM electrolyzer based “˜10kW Home refueling Unit' marks a significant milestone in the Memorandum of Understanding (MOU) between HEC and ITM.
According to the MOU, both parties intend to develop non-polluting grid-independent power systems utilizing HEC's hydrogen-fueled electrical generator set and engine controller along with ITM's low cost electrolyzer technology. This system could essentially provide the technology and equipment necessary to operate on renewable energies such as wind and/or solar power.
Ted Hollinger, President and CEO of Hydrogen Engine Center, said, ”The delivery of the generator to ITM Power shows evident progress in our joint goal toward producing carbon-free turn-key systems. With the successful testing of our generator set with ITM's electrolyzer technology, we intend to progress into further discussions with ITM regarding commercialization of the system.“
HEC expects to receive an electrolyzer from ITM on completion of the current ITM development program. Upon receipt of that unit, HEC will begin conducting trial testing on the combined generator-electrolyzer system. ITM will also be conducting trial testing on a similar system. Data collected from both trials will be gathered and analyzed to better determine potential commercialization avenues for the system. Potential markets for these systems may include cell phone towers along with small renewable energy systems (power range up to 30kW), such as wind and solar applications. In addition to those markets, consumers may also see these systems commercialized globally for small business applications and home use. The intent is to increase the system's capabilities over time to include larger industrial applications (power range between 30kW and 100kW).
Jim Heathcote, CEO of ITM, said, ”We have anticipated receiving this unit and we believe that this combination of technologies is highly complementary.“
About ITM Power Plc:
ITM Power Plc believes it has developed and patented the keys to revolutionise the hydrogen economy and is set to become one of the UK's leading innovators within the alternative energy sources industry. www.itm-power.com
ITM Power is quoted on the London Stock Exchange's Alternative Investment Market (AIM) under the ticker symbol ”ITM“.
About Hydrogen Engine Center, Inc.
Hydrogen Engine Center, Inc. (HEC) develops systems and processes used in the design, manufacture and distribution of alternative fuel internal combustion engines, engine controls and generator systems. These technologies are for use by customers and partners in the industrial and power generation markets. These solutions and the engines using them are designed to run on hydrogen, ethanol, methanol, ammonia and traditional fuels. Engines and engine products are sold under the brand name Oxx Power™. HEC trades on the Bulletin Board under the symbol "HYEG.OB." Principal offices are located at 2502 E Poplar St., Algona, Iowa 50511. Visit www.hydrogenenginecenter.com or in the US dial 515-295-3178 for more information.
Hydrogen Engine Center Delivers Generator Set to ITM Power
Hydrogen Engine Center, (News) Inc., (OTC BB: HYEG) (HEC) developer of systems and processes used in the design, manufacture and distribution of alternative fuel internal combustion engines, engine controls and generator systems, has announced the delivery of an 8kW hydrogen-fueled generator set to ITM Power Plc (News) (ITM) for demonstration purposes in the United Kingdom. The delivery of the unit which has been developed and is sized to be suitable for use in conjunction with the ITM electrolyzer based “˜10kW Home refueling Unit' marks a significant milestone in the Memorandum of Understanding (MOU) between HEC and ITM.
According to the MOU, both parties intend to develop non-polluting grid-independent power systems utilizing HEC's hydrogen-fueled electrical generator set and engine controller along with ITM's low cost electrolyzer technology. This system could essentially provide the technology and equipment necessary to operate on renewable energies such as wind and/or solar power.
Ted Hollinger, President and CEO of Hydrogen Engine Center, said, ”The delivery of the generator to ITM Power shows evident progress in our joint goal toward producing carbon-free turn-key systems. With the successful testing of our generator set with ITM's electrolyzer technology, we intend to progress into further discussions with ITM regarding commercialization of the system.“
HEC expects to receive an electrolyzer from ITM on completion of the current ITM development program. Upon receipt of that unit, HEC will begin conducting trial testing on the combined generator-electrolyzer system. ITM will also be conducting trial testing on a similar system. Data collected from both trials will be gathered and analyzed to better determine potential commercialization avenues for the system. Potential markets for these systems may include cell phone towers along with small renewable energy systems (power range up to 30kW), such as wind and solar applications. In addition to those markets, consumers may also see these systems commercialized globally for small business applications and home use. The intent is to increase the system's capabilities over time to include larger industrial applications (power range between 30kW and 100kW).
Jim Heathcote, CEO of ITM, said, ”We have anticipated receiving this unit and we believe that this combination of technologies is highly complementary.“
About ITM Power Plc:
ITM Power Plc believes it has developed and patented the keys to revolutionise the hydrogen economy and is set to become one of the UK's leading innovators within the alternative energy sources industry. www.itm-power.com
ITM Power is quoted on the London Stock Exchange's Alternative Investment Market (AIM) under the ticker symbol ”ITM“.
About Hydrogen Engine Center, Inc.
Hydrogen Engine Center, Inc. (HEC) develops systems and processes used in the design, manufacture and distribution of alternative fuel internal combustion engines, engine controls and generator systems. These technologies are for use by customers and partners in the industrial and power generation markets. These solutions and the engines using them are designed to run on hydrogen, ethanol, methanol, ammonia and traditional fuels. Engines and engine products are sold under the brand name Oxx Power™. HEC trades on the Bulletin Board under the symbol "HYEG.OB." Principal offices are located at 2502 E Poplar St., Algona, Iowa 50511. Visit www.hydrogenenginecenter.com or in the US dial 515-295-3178 for more information.
RNS Number : 1550G
ITM Power PLC
17 October 2008
A Second Price Monitoring Extension has been activated in this security.
A Second Price Monitoring Extension is activated when the auction matching process would result in an auction price that is a pre-determined percentage above or below the base price.
The auction call period is extended for 5 minutes.For details of how base prices are set for each market, please refer to the Guide to Trading Service at www.londonstockexchange.com
ITM Power PLC
17 October 2008
A Second Price Monitoring Extension has been activated in this security.
A Second Price Monitoring Extension is activated when the auction matching process would result in an auction price that is a pre-determined percentage above or below the base price.
The auction call period is extended for 5 minutes.For details of how base prices are set for each market, please refer to the Guide to Trading Service at www.londonstockexchange.com
RNS Number : 3390K
ITM Power PLC
17 December 2008
A Price Monitoring Extension has been activated in this security.
A Price Monitoring Extension is activated when the auction matching process would result in an auction price that is a pre-determined percentage above or below the base price.
The auction call period is extended for 5 minutes.For details of how base prices are set for each market, please refer to the Guide to Trading Service at www.londonstockexchange.com
ITM Power PLC
17 December 2008
A Price Monitoring Extension has been activated in this security.
A Price Monitoring Extension is activated when the auction matching process would result in an auction price that is a pre-determined percentage above or below the base price.
The auction call period is extended for 5 minutes.For details of how base prices are set for each market, please refer to the Guide to Trading Service at www.londonstockexchange.com
RNS Number : 3887K
ITM Power PLC
18 December 2008
For immediate release 18 December 2008
ITM Power Plc
('ITM' or 'the Company')
Technical Update
ITM Power PLC is developing the technology to provide alternatives to the present dependence on hydrocarbon fuels. The technology is based upon the manufacture of hydrogen from sustainable resources by electrolysis.
During the past few months ITM has been developing the company's exciting scientific advances into fully functional prototype electrolyser systems that can be shipped to third parties once durability testing has been completed. These prototype units require complex control systems, internally developed software, power electronics and other important hardware which must be made compatible with ITM's totally new electrolyser stack technology. Recent design effort has been expended in pursuit of compliance with ISO and other international standards relating to Electrolyser safety, design, performance and use. This phase of the development of the company's products has involved actively testing and resolving the limitations in the overall system.
ITM is building and durability testing the first prototype units. The company now believes that this testing will not be completed until sometime in the first half of 2009 and will be in a position to begin shipping products thereafter.
Jim Heathcote, CEO, ITM Power Plc, said 'As expected, in turning ITM's patented breakthrough membrane technology into useful products for customers we have been steadily ironing out reliability issues. This should ensure that our units operate safely and reliably in field trials and with customers. Overall the progress we have achieved is highly commendable and we are optimistic about our prospects for the New Year'
ITM Power PLC
18 December 2008
For immediate release 18 December 2008
ITM Power Plc
('ITM' or 'the Company')
Technical Update
ITM Power PLC is developing the technology to provide alternatives to the present dependence on hydrocarbon fuels. The technology is based upon the manufacture of hydrogen from sustainable resources by electrolysis.
During the past few months ITM has been developing the company's exciting scientific advances into fully functional prototype electrolyser systems that can be shipped to third parties once durability testing has been completed. These prototype units require complex control systems, internally developed software, power electronics and other important hardware which must be made compatible with ITM's totally new electrolyser stack technology. Recent design effort has been expended in pursuit of compliance with ISO and other international standards relating to Electrolyser safety, design, performance and use. This phase of the development of the company's products has involved actively testing and resolving the limitations in the overall system.
ITM is building and durability testing the first prototype units. The company now believes that this testing will not be completed until sometime in the first half of 2009 and will be in a position to begin shipping products thereafter.
Jim Heathcote, CEO, ITM Power Plc, said 'As expected, in turning ITM's patented breakthrough membrane technology into useful products for customers we have been steadily ironing out reliability issues. This should ensure that our units operate safely and reliably in field trials and with customers. Overall the progress we have achieved is highly commendable and we are optimistic about our prospects for the New Year'
RNS Number : 2814M
ITM Power PLC
27 January 2009
For immediate release
27 January 2009
ITM Power plc
('ITM' or 'the Company')
Interim Results
for the six months ended 31 October 2008
ITM Power Plc (AIM:ITM) is a clean energy company focused on developing technology to alleviate the present dependence on hydrocarbon fuels. Today it announces its Interim Results for the six months ended 31 October 2008.
· Current Program updates:
· Program to develop 1kW prototype fuel cell system for demonstration in late June 2009 on track
· Low pressure 5-10kW electrolyser for use in low carbon domestic housing projects nearing field trial status
· Demonstration High Pressure Commercial vehicle refueling system under construction
· The initial design of a small electrolyser for on-site hydrogen generation for laboratories and other low demand customers has been completed. Prototype units have been built and are undergoing testing and development.
· Pre-tax loss for the period increased from £1.91 million to £2.25 million in line with budget and reflects the increased level of development activity which has taken place in 2008
· Cash and short term investments at 31 October 2008 - £24.61 million
For further information please contact:
ITM Power PLC
27 January 2009
For immediate release
27 January 2009
ITM Power plc
('ITM' or 'the Company')
Interim Results
for the six months ended 31 October 2008
ITM Power Plc (AIM:ITM) is a clean energy company focused on developing technology to alleviate the present dependence on hydrocarbon fuels. Today it announces its Interim Results for the six months ended 31 October 2008.
· Current Program updates:
· Program to develop 1kW prototype fuel cell system for demonstration in late June 2009 on track
· Low pressure 5-10kW electrolyser for use in low carbon domestic housing projects nearing field trial status
· Demonstration High Pressure Commercial vehicle refueling system under construction
· The initial design of a small electrolyser for on-site hydrogen generation for laboratories and other low demand customers has been completed. Prototype units have been built and are undergoing testing and development.
· Pre-tax loss for the period increased from £1.91 million to £2.25 million in line with budget and reflects the increased level of development activity which has taken place in 2008
· Cash and short term investments at 31 October 2008 - £24.61 million
For further information please contact:
20.02.2009 12:01
BRIEF-ITM Power says chief executive resigns
LONDON, Feb 20 (Reuters) - ITM Power Plc: (News)
* Jim Heathcote, chief executive, has resigned his position with immediate
effect
((London Equities Newsroom; +44 20 7542 7717))
(For more news, please click here)
COPYRIGHT
BRIEF-ITM Power says chief executive resigns
LONDON, Feb 20 (Reuters) - ITM Power Plc: (News)
* Jim Heathcote, chief executive, has resigned his position with immediate
effect
((London Equities Newsroom; +44 20 7542 7717))
(For more news, please click here)
COPYRIGHT
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