ITM Power Signs Fuel Supply Contract With Honda For Hydrogen

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LONDON (Alliance News) - Energy storage and clean fuel firm ITM Power PLC said on Tuesday it has signed a contract with Honda (UK), a subsidiary of automobile company Honda Motor Co, under which Honda will purchase hydrogen at GBP10.0 per kilogram.

This marks the 17th fuel supply contract for fuel cell electric vehicles ITM Power has signed. Other clients includes automobile companies Toyota GB PLC and Hyundai Motor UK Ltd, car rental firms Europcar Group SA, Arval UK Ltd and Green Tomato Cars Ltd, as well as mining company Anglo American PLC, and energy companies Arcola Energy Ltd and Northern Gas Networks Holdings Ltd.

The hydrogen refuelling network operated by ITM Power is financially supported by innovation agency Innovate UK, government body office for low emission vehicles and European public-private partnership fuel cells and hydrogen joint undertaking.

"We look forward to supporting Honda and its HyFIVE customers with their refuelling requirements for the Clarity Fuel Cell as our hydrogen refuelling station network expands throughout the UK," said Chief Executive Officer Graham Cooley.

Shares in ITM Power were up 0.4% at 20.825 pence on Tuesday.

By Dayo Laniyan; [email protected]

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