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ITM Power burns £4.8m
Fuel Cells, Aug 02 2011 (The Hydrogen Journal)
- UK full manufacturer ITM Power reports that it burned £4.8m in the year ending 30 April 2011, compared to £4.9m for 2010. The company had £12.2m cash at the end of the year.
During the year ending 30 April 2011 the company achieved CE marketing (European safety mark) for its HPac, HFlame and HBox products, which are a range of different sized electrolysers.
It sold one of its HPac (high efficiency proton-exchange membrane electrolysers) to the University of Birmingham and started the first HFlame (alkaline electrolyser technology producing an oxy-hydrogen flame) unit with Ametek Airtechnology Group. It sold a HFuel hydrogen refuelling station to the University of Glamorgan.
It finished four hydrogen fuelling trials with London Stansted, DHL, AMEY and Volker Highways, with the unit achieving 100 per cent availability and 64 per cent average efficiency (electrolysing water with electricity to make hydrogen for vehicles). The cost of hydrogen developed this way was shown to have "parity" with petrol.
It claims the highest recorded power density for a PEM fuel cell, with over 5.5 watts / cm2 with oxygen and over 2.1 watts per cm2 using air.
The company also appointed an agent in Germany and established a German subsidiary.