18th Mar 2008 07:00
ITM Power PLC18 March 2008 For Immediate Release 18 March 2008 ITM Power plc ("ITM" or "the Company") Retirement of a director of ITM Power plc After eight years service with ITM Power plc, Dr Jonathan Lloyd has indicatedhis desire to relinquish his main board directorship as he looks towardretirement. Dr Lloyd, in his role as Director of Engineering, will continue towork at ITM as a full time employee of the Company for a period of around sixmonths to conclude his present projects, after which time he will assume aconsultancy role to the Company. Dr Lloyd was a founder director of ITM and will still remain a majorshareholder. Through careful succession planning, Dr Lloyd's role will be filledby scientists and technicians from within the Company when his consultancy roleis assumed. Commenting on Dr Lloyd's retirement, Jim Heathcote Chief Executive of ITM said: "We would like to thank Jonathan for his contribution to ITM over the past eightyears. The Company is pleased that Jonathan will continue to assist the businessin a new role as consultant to ITM." For further information please contact: ITM Power plc 01799 542 222Jim Heathcote, Chief Executive Officer Panmure Gordon & Co. 020 7459 3600Katherine Roe Buchanan Communications 020 7466 5000Ben WilleyRichard DarbyBen Romney Notes to the Editors: ITM Power is a developer of low-cost hydrogen technologies. The Company hasdeveloped new materials and processes that dramatically reduce the cost of fuelcells and electrolysers. The patented membrane materials used in the deviceshave higher performance and are 1% of the cost of the industry standardmaterials. Electrolysers work by converting water and electricity into hydrogen and oxygen.The hydrogen produced can be used as a replacement for fossil fuels andfacilitate zero carbon domestic housing and pollution free motoring. ITM Power was founded in 2000 and floated on the London Stock Exchange'sAlternative Investment Market in June 2004. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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