ITM POWER PLC - Regulatory Filings 2013

National Storage Mechanism | Additional information

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RNS Number : 5846Y

ITM Power PLC

25 February 2013

ITM Power plc

("ITM Power" or the "Company")

EcoIsland Update

ITM Power (AIM: ITM), the energy storage and clean fuel company, notes recent media reports concerning the Company's relationship with EcoIsland Partnership CIC ("EcoIsland") and draws investors' attention to the following announcement released today by EcoIsland:

"ITM POWER PLC NATIONAL HYDROGEN PARTNER FOR ECOISLAND PARTNERSHIP CIC

In order to clarify some confusion caused by some announcements in the press last week, EcoIsland Partnership CIC wishes to confirm that ITM Power plc remains and will continue to be their National Hydrogen Partner in the EcoIsland Project. ITM Power plc has been working closely with EcoIsland now for more than two years and is supporting us with their technology on the Island. Our agreement with ITM Power plc includes among other hydrogen technologies; a clean fuel vehicle refuelling plant, consideration of utilising hydrogen for energy storage using the Island's gas grid and the possibility of creating a larger hydrogen store to give the Island a long term energy storage solution.

We understand that ITM Power plc has demonstrated an off grid home at its facility in Sheffield where part of the building was converted to a flat that ran off hydrogen gas generated from renewable energy. ITM Power plc is also working with our other National and Global Partners to raise funding for similar projects on the Island.

EcoIsland Partnership CIC confirms that it has not issued any other Partnership Contract or Licence to any other Hydrogen Partner nor has it placed any other orders or contracts for the supply of hydrogen technology to the EcoIsland Project other than those it has in place with ITM Power plc."

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


ITM Power plc Graham Cooley, CEO	0114 244 5111
N+1 Singer (Nominated Adviser & Broker) Shaun Dobson / Jenny Wyllie	020 7496 3000
Tavistock Communications Simon Hudson / Kelsey Traynor	020 7920 3150

About ITM Power

ITM Power plc was admitted to the AIM market of the London Stock Exchange in 2004 and raised its initial funding of £10m gross in its IPO. Further funding rounds of £28.5m in 2006 and £5.4m in 2012 have been completed. The Company has now made the transition from a research and development company to a product manufacturer and technology provider. The Company has both a strong base of intellectual property and engineering expertise for providing complete hydrogen solutions. The Company has been successful in developing strategic industry partnerships in the following projects:

● EU Funding for Advanced Refuelling Project

http://www.itm-power.com/news-item/e3-59m-grant-award-for-an-advanced-refueling-product/

● AEG Power Solutions electrolyser integration with power electronics

http://www.itm-power.com/news-item/rapid-response-electrolyser-power-systems-integration/

· DECC Funding Award for the Production of Synthetic Methane

http://www.itm-power.com/news-item/decc-funding-award-for-the-production-of-synthetic-methane/

· EU Funding for PEM Fuel Cell Innovation - IMPACT

http://www.itm-power.com/news-item/eu-funding-for-pem-fuel-cell-innovation-impact/

· Agreement with ABO Wind of Wiesbaden, Germany

http://www.itm-power.com/news-item/agreement-with-abo-wind-of-wiesbaden-germany/

· Letter of Intent signed with German Utility

http://www.itm-power.com/news-item/letter-of-intent-signe-witdh-german-utility/