3rd Apr 2014 09:20
LONDON (Alliance News) - ITM Power PLC said it had won a GBP2.8 million contract to supply three refuelling stations in London under the HyFive project announced Thursday by the London May Boris Johnson.
The HyFive project is a GBP31 million drive to make hydrogen vehicles a "viable and environmentally friendly choice of motorists across Europe," funded by the EU's EU Fuel Cells and Hydrogen Joint Technology Initiative.
ITM Power is an energy storage and clean fuel company. It said that the three stations will be the first green hydrogen deployments in London.
Five manufacturers will deploy 110 hydrogen fuel cell vehicles at several European locations and develop new clusters of hydrogen refuelling stations as part of the project.
"To sell this technology we need to show Londoners and the wider world that it is not science fiction," Johnson said in a statement. "By building the vehicles and the filling stations and allowing people to kick the tyres, we will be able to demonstrate that hydrogen is a viable option and that London is at the forefront of efforts to make it so."
Shares in ITM were trading up 12% at 32.75 pence Thursday morning, the third biggest gainer on the the AIM market.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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