Landmark year for ITM Power

Clean fuel firm ITM Power said 2011 will be a transformational year for the company as it reported a fall in half-year losses.

The Sheffield-based company said it reduced losses from 3.4m to 3m in the six months to October 31, which was in line with budget.

ITM anticipates rolling out a number of new 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 also said that 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.

Total grant funds during the six months were 536,000, with 200,000 of this being allocated against the cost of constructing an HFuel unit for the Hydrogen On Site Trials.

ITM recently announced that windscreen repair company Autoglass had joined its Hydrogen On Site Trials.

The trials are testing ITM's new clean fuel technology, the transportable high pressure refueling unit (HFuel).

Autoglass is the leading operator in the UK serving 1.5 million motorists each year.