TIDMITM

RNS Number : 2354H

ITM Power PLC

26 July 2023

26 July 2023

ITM Power PLC

ITM Power announces roadmap for strategic collaboration with Gore

ITM and W. L. Gore & Associates intend to collaborate to further deepen their understanding of proton exchange membrane water electrolysis ("PEMWE") performance over lifetime, durability mechanisms and reliability.

The collaboration will enable fast paced progress, and shall further enhance stack performance, durability and reliability as part of ITM's technology development programme, leveraging each company's expertise and capabilities in science and technology, including ITM's world-class electrolyser testing facilities.

The proton exchange membrane is at the heart of the electrolyser stack, serving as an ion permeable barrier within each cell, which separates hydrogen and oxygen, and transports protons from the anode to the cathode. The capability of the membrane, together with its interactions with other cell and stack components during assembly and operation, make the membrane one of the most important determinants of stack performance and longevity.

The two companies are both leaders in their fields with R&D underpinning their foundations and a reputation for pioneering innovation.

Dennis Schulz, CEO ITM Power, said: "We are delighted to elevate our collaboration with Gore to the next level. Their understanding of membranes and their product quality and reliability are market-leading, and by forging ahead with this alliance, we are further cementing our technology leadership whilst at the same time ensuring that a key part of our supply chain is future-proof as we scale up."

Laura Keough, Global Business Leader for Gore's Electrolysis & Energy Storage division, said: "We are proud and excited about this collaboration that is of strategic importance and will benefit the entire green hydrogen ecosystem. As a leading PEM supplier, Gore looks forward to leveraging our 25 years' industry experience alongside ITM's stack technology expertise. Our collective technical and product capabilities will generate significant R&D insights and advance our knowledge of lifetime electrolyser performance, demonstrating PEM water electrolysis as the key to our collective net-zero ambitions."

For further information please visit www.itm-power.com or contact:

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

W. L. Gore & Associates (Gore) is a global materials science company dedicated to transforming industries and improving lives. Since 1958, Gore has solved complex technical challenges in demanding environments - from outer space to the world's highest peaks to the inner workings of the human body. With more than 12,000 Associates and a strong, team-oriented culture, Gore generates annual revenues of $4.5 billion.

gore.com

-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 or visit 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.

END

MSCPPUBUMUPWUAQ

(END) Dow Jones Newswires

July 26, 2023 02:00 ET (06:00 GMT)

Itm Power (LSE:ITM)
Historical Stock Chart
From Dec 2024 to Jan 2025 Click Here for more Itm Power Charts.
Itm Power (LSE:ITM)
Historical Stock Chart
From Jan 2024 to Jan 2025 Click Here for more Itm Power Charts.