ITM sees 2011 as a transformational year

CLEAN fuel firm ITM Power has reduced its losses from £3.4m to £3m in the six months to October 31.

The Sheffield-based firm said it anticipates rolling out more products over the next six months.

It said that following clear commitments to hydrogen fuel made in both Germany and the US, hydrogen vehicles are increasing in popularity.

ITM's chief executive Dr Graham Cooley said that the need for hydrogen infrastructure has never been greater.

"2011 will be a transformational year for ITM Power," he said. "I am confident that the uptake of hydrogen will continue to gain momentum and that, with our range of energy storage and clean fuel products, the company is extremely well positioned."

ITM said its HPac product has achieved CE certification. A CE mark is a mandatory conformance mark for products placed on the market in the European Economic Area.