ITM sets up subsidiary in Germany

CLEAN fuel firm ITM Power has launched a German subsidiary to tap into the country’s growing hydrogen economy.

The Sheffield-based company, which has developed electrolyser technology to use electricity to produce hydrogen gas, said ITM Power GmbH would be based in Frankfurt and managed by Philip Doran.

Mr Doran said: “This is an exciting move by ITM and recognition of how important the German market is for the early uptake of hydrogen technologies.

Sign up to our Business newsletter

Sign up to our Business newsletter

“Our presence in this market is essential if we are to play a full role in the development of the European hydrogen infrastructure both in transportation and energy storage.”

ITM is a regular exhibitor at the Hannover Messe, a green technology exhibition in Germany.

Mr Doran, who has been based in Frankfurt for 20 years, is a partner in Core Technology Ventures and was a founding member of the European Hydrogen and Fuel Cell Trade Association.

From 1993 to 2002 he was head of hydrogen and fuel cells research and senior equity sales at UBS Warburg AG.

A spokesman added ITM would continue to be based in Sheffield.

“Germany is one of the early adopter markets for hydrogen and they think it is important to be there,” he said. “It’s the next step in building their presence there. It will be a sales presence in Germany. It’s unlikely to mean manufacturing there.”

The company believes 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.