Interest in clean power method beginning to turn into orders

The Sheffield-based company, which has developed electrolyser technology to create and store hydrogen from renewable electricity, recently exhibited at the Hannover Messe, a green technology exhibition in Germany.

ITM said it established contacts with more than 360 interested customers, and held 30 meetings.

The company also recorded its first sale of a HFuel hydrogen-generating device. The unit was sold to the University of Glamorgan in South Wales for an undisclosed sum.

“This is a key stage in the commercial development of ITM Power,” said chief executive Graham Cooley.

“This sale will also allow ITM Power to gain valuable experience in integrating our technology with third-party systems operating in real world applications.”

Shares in the company climbed 1p to 56.75p.

The HFuel electrolyser system will supply around 4kg of hydrogen per day. It will be installed and commissioned at the Renewable Hydrogen Research and Development Centre by ITM staff and monitored remotely from the company’s Sheffield base.

ITM now has CE certification for its HBox, HPac and HFlame devices, which it believes should aid commercial momentum.

HPac supplies hydrogen to compression systems for energy storage, fuel cells, engines and small industrial sites. HFlame is designed for soldering, cutting and polishing. HBox is an electrolyser designed to produce heat and power inside the home.

“This is the moment where we find out that we have got our products positioned right and our prices right,” said Dr Cooley. “It’s a very exciting time. We’ve gone over $120 a barrel for Brent crude oil. We’ve got products in the right place at the right time.”

The company said it has received “overwhelmingly positive” feedback about its technology and products.

As well as interest in its products, ITM has also had a number of meetings about its membrane materials, for use in fuel cells. It has been invited to present technical results to a number of organisations over the coming months.

Dr Cooley said the UK needs to emulate Germany and the United States by supporting hydrogen as an alternative to fossil fuels. Currently there is no subsidy regime in the UK to support hydrogen or hydrogen storage.

“The UK is still fiddling around with charging electric vehicles,” he said. “You can get hydrogen in your car in three minutes and you can go a sensible distance.

“There should be a structure for storing renewable energy. Energy storage is important because renewables are intermittent. We have seen from all of the countries that have developed renewables in a large way that they need energy storage. Using an electrolyser is the easiest way of doing that.”

Dr Cooley said the AIM-listed company has no plans to leave the UK, and will continue to press its case with the Government.

“We’re manufacturing in Sheffield and proud to be doing that,” he said. “Many of the markets may be overseas but we are still seeking UK Government support because we want to continue manufacturing here.”

The Department of Energy and Climate Change said: “The UK position on hydrogen is that it is one of a number of long-term energy options, but that actions need to be taken now to develop the technology to the stage where the market can make an informed decision regarding its prospects.”

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