REG - ITM Power PLC - Strategic collaboration with Mott Corporation

ITM PowerAnnouncement

03/07/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230703:nRSC6191Ea&default-theme=true

RNS Number : 6191E  ITM Power PLC  03 July 2023

3rd July 2023

 

ITM Power PLC

 

ITM Power announces strategic collaboration with Mott Corporation

 

ITM is partnering with Mott Corporation to cement ITM's market leadership in
electrolyser stack technology. Leveraging both companies' expertise in science
and technology, ITM and Mott are collaborating to further advance porous
transport layers (PTL), which are a key component of proton exchange membrane
(PEM) electrolysis.

ITM's stacks operate at the highest current density on the market, which
results in lower stack cost due to reduced material use. The high current
density brings very specific requirements for the PTL, which Mott have
demonstrated capability to deliver. The two companies, both leaders in their
fields with a strong R&D foundation and reputation for pioneering
innovation, are working together to further enhance the efficiency and
performance of ITM's already proven PEM electrolysis technology, and to
develop ITM's next generation stack. ITM will work alongside Mott's
engineering teams to design and verify component customisation in support of
ITM's ongoing technology roadmap.

PTL distribute electrical current and fluids uniformly across the surface of
the membrane. Through optimisation of the PTL, the performance of the core
technology is maximised while providing a precise mechanical environment
promoting long-term stability.

Dennis Schulz, CEO ITM Power, said: "Mott has demonstrated capability to meet
our exacting requirements supported by stringent quality control and
innovation. Together, we are progressing real-world technology to advance and
future-proof the production of green hydrogen. Our collaboration will cement
ITM's technology leadership and play an important role in our supply chain."

Boris Levin, CEO Mott, said: "As the largest provider of porous transport
layers in the world, we are proud to strengthen our partnership with ITM and
support its stack technology. Mott's porous transport layers are controlled to
the tightest tolerances and have the most precise surface finish on the
market, and we are excited to continue working with ITM to enhance our
technology and drive green hydrogen production. Our partnership is based on a
shared commitment to excellence and precision."

 

For further information please visit www.itm-power.com
(http://www.itm-power.com/)  or contact:

 

 ITM Power PLC
 Justin Scarborough, Head of Investor Relations    +44 (0)114 551 1080

 James Collins, Head of Corporate Affairs          +44 (0)114 551 1205

 Investec Bank plc (Nominated Adviser and Broker)  +44 (0)20 7597 5970
 James Rudd / Chris Sim / Ben Griffiths

 

 

About ITM Power PLC:

ITM Power was founded in 2000 and ITM Power PLC was admitted to the AIM market
of the London Stock Exchange in 2004. Headquartered in Sheffield, England, ITM
Power designs and manufactures electrolysers based on proton exchange
membrane (PEM) technology to produce green hydrogen, the only net zero energy
gas, using renewable electricity and water.

 

About Mott Corporation:

Mott is a technology-driven, precision filtration company trusted by the
world's best technical and performance brands across four core markets:
Medicine, Computing Power, Clean Energy, and Space Exploration. Mott's
products can be found in everything from lifesaving medical devices to
artificial intelligence to the Mars Rover. Established in 1959 and
headquartered in Farmington, Connecticut, the company is 100 percent employee
owned.

 

 

 

-ends-

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCEASKEDDPDEFA