20th Jan 2015 08:50
LONDON (Alliance News) - ITM Power PLC Tuesday said it will launch an enhanced product range based on a higher current density that produces 50% more hydrogen for the same stack volume at the 2015 Hannover Hydrogen and Fuel Cells Group Exhibit in April, and it has also won two new key installations in Germany.
In a statement, the fuel cells company said it will also be launching its new 350 kilowatt single stack with a three stack 1 megawatt system on show and for sale.
It said it now has GBP8.7 million of projects under contract and GBP2.5 million subject to final contract negotiations.
ITM said it had won two new reference plant sales in Germany to two technical universities, bringing the number of reference plant installations in the country to four.
"Reference plant is particularly important for ITM Power in the German market and with those organisations which advise the Germany Energy Ministry," it said.
"This is an important step in developing our German business given the close tripartite collaboration that exists in Germany between academia, the Federal and State Governments and industry. These sales and the Hannover launch will further highlight ITM Power's technology as being more than capable of meeting the needs of the Energiewende, and of ITM Power's growing presence in Germany," said Phil Doran, managing director of ITm Power's German operation.
ITM Power shares were up 2.3% at 32.23 pence early Tuesday.
By Steve McGrath; [email protected]; @stevemcgrath1
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