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Gerry
You've made a mistake posting the Yorkshire Forward Grant info.
This is from 29th July 2005.
If you go back to the link today you'll notice the date has now changed to the 10th of July.....bad design of that website as I've seen others fooled by this before.
My advice is always double check Pork Belly's submissions. He isn't being malicious but he does have a habit of posting old news as new.
http://www.itm-power.com/news/11.pdf
Some news for our US friends
ITM are in the money to the tune of $1.6m
repost from the UK ITM thread
pork belly - 9 Jul'08 - 23:36 - 326 of 326
An RNS for tomorrow morning for sure.
ITM have just received a £800,000 grant from regional development agency Yorkshire Forward today.
Yorkshire Post
Wednesday, 9th July 2008
ITM Power grant a boost to 'Hydrogen Island'
http://www.yorkshirepost.co.uk/businessnews/ITM-Power-grant-a-boost.1103158.jp
Positive straws in the wind…
The ITM RNS released today coinciding with a demo of the HRU and Bi fuel car contained some very interesting straws in the wind
By that I mean……
1 What was said
2 What was not said that ought to be said
and
3 What was let slip because PR people don’t fully understand what a statement infers when they are crafting it…..( I would add "bless em"....... if it wasnt for Ben Won`ty )
My overview is that once again ITM and their hapless advisors Buchanan Communications have undersold some very significant achievements
I will cover this in 3 posts of which this is the first
Firstly
What WAS said today………….. that is undoubtedly good news
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
1 ITM said today that the HRU is platinum free..
......Why is this good news ?
Well
In Jan 2008 ITM said the HRU had one platinum catalyst coated electrode (the oxygen side)
This was puzzling as ITM had already proof tested a platinum free 5Kw electrolyzer back in July 2008 However it transpired that their rationale for reverting back to one platinum electrode between July and Dec 2007 was perfectly sound
They did it because the use of platinum in one electrode was cost effective
Why ?
because the platinum loading on the carbon paper catalyst they were able to use was the lowest weight in the market ……..so low that swopping it for a non platinum material didn’t save enough money to make it worth while slowing down development work while they haggled with a supplier unwilling to make and quality control test vast quantities of non platinum catalysts.......this has now been done
So good news No 1 …… that there is now no doubt that platinum is gone for good from electrolyzers
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
And
Despite the coyness of JH at the NHA interview when he only admitted to one platinum electrode being removed from the ITM fuel cell
Its a no brainer that Prof Highgate will be running electrolyzer and fuel cell development work simultaneously
So
This statement today on electrolyzers inevitably means platinum will be eliminated from the fuel cell when it is finalised next year
Why ?
cos if it works on an electrolyser it works on a fuel cell
Its simply a question of doing it backwards with a little bit of extra tubing etc
So good news No 2 …… that there is now little doubt that platinum will be gone for good from fuel cells…….and costs in the market place are about to fall steeply,
this is earth shattering to the fc community around the globe and potentially fatal news to the big boys that are left
A statement saying platinum is gone from fuel cells must be strongly fancied to come later in the year
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
Also
perhaps most importantly of all..
…….. what can be inferred from “platinum free” ?
Well
It is a known fact that the efficiency of electrolyzers is improved by the use of catalysts The more platinum that is used the greater the efficiency ( ie Kws needed per Kg of H2)
It is also a known fact that all other fuel cell cos in the world are striving to trade off the cost of platinum against the cell efficiency So most of the fuel cells and electrolyzers in the world have efficiencies of around 55% max because they need to keep down the cost of platinum If they didn’t they would have efficiencies of around 85% but the platinum cost would be astronomic
However
Most people don’t realise that platinum is needed only because the nafion membrane is acidic
……..If it can be made alkaline
…… the road to high efficiency never mind lower cost…. is wide open
Currently
the only high efficiency electrolyzers are the massive swimming pool size wet alkaline units made by Norsk Hydro etc.. .These don’t use platinum and can get efficiencies close to and above 90%
However
wet electrolysers don’t make pure H2 (ie 99.999%)and have other problems that prevent them EVER becoming low cost
So
When ITM first mentioned their hydrophilic membranes they hinted that they might be able to have an ALKALINE electrolyte or membrane instead of the nafion ACID membrane used by everyone else in the world……ITM emphasised the cost saving benefit versus platinum but said little about the fact that there was an extra hidden benefit ....
i.e. raising the efficiency way above the 55% cost equilibrium point
Marcus Newborough indicated an efficiency of up to 90% for ALKALINE electrolyzers of both the wet and pem acid type in his 2004 report on ITM which was done while he was a Consultant
See first para of executive summary and section 3.2 ( i )
http://www.h2fc.com/Newsletter/PDF/ElectrolyserTechnologyReportFINAL.doc
So by eliminating platinum
Not only have ITM wiped the floor with nafion on costs grounds…..
They have wiped the floor with nafion on efficiency grounds
since
By moving from acid to alkali they can use as much of the low cost alkaline catalyst as they want without adding any significant cost
i.e keep adding cheap catalysts until they get the overall efficiency up to and well over the 90% mark
So is there any reason to believe that this is what ITM have ACTUALLY achieved ?
There is a clue in todays RNS that ITM `s HRU can indeed operate at a very high efficiency rate
It was apparently stated in an interview that the HRU can make 3kg/day of H2 from offpeak electricity
Well ……..there are only 10 offpeak hrs in a day (I think)
……although I will stand corrected if any one tells me differently........in the UK I mean
And at 100% efficiency
It can be shown from basic chemistry that a 1 Kw Electrolyzer can make 30.6228 gms/hr of hydrogen
Meaning a 10 Kw Electrolyzer can make 3.06228 Kgs in 10hrs
Suggesting the HRU has a conversion efficiency of 3x 100/3.06228 or 98%
Even if I`m wrong and there are 11 off peak hrs in a day
this become 10x 98/11 = 89%
Or even if there was 12 hrs……which is most unlikely
This becomes 10x98/12 = 81%
i.e ……miles above the 55% of the best in class pem electrolyzer on the market today
This is a vital market edge when you consider that making and storing stranded green energy has to be done efficiently if it is to be re used in a fuel cell instead of road transport
either domestically or at power stations or wind farms
If the electrolyzer efficiency is say 90% and the fuel cell efficiency is say 90% the conversion/reconversion efficieny is
81%
This means storing H2 at power stations or wind farms for reconversion back to power at peak periods is a no brainer and
a very lucrative profit opportunity for the utility cos
Since
if you can use stranded energy green or nuclear……to make H2 and reconvert at the peak period
you increase the overall utilisation of plant which is measured in $millions per 1% improvement
on the UK grid this would be something like £160m pa for 1%
and
You save an absolute fortune in having to build back up power plant for use when the wind isnt blowing
zillions and zillions around the world
,,,,,,,,,,,,,,,,,,,,,,,,,,,,
Enough for now
lots more to come from this interesting statement
Quality is better than quantity
The last thing we want is to have US investors thinking they are being snowed on this BB by the Brits......
So
Conno/basbas/babbo
Never struck me until reading the last few posts
But.....
It is absolutely essential that UK posters on this USA BB know what they are talking about...If they dont post accurately then there is no chance of multi bagging being shared across the pond
I have no intention to try to muzzle people I disagree with
Despite G Brown I`m a democrat......(UK Version)
So although we obviously welcome any newcomers to the BB particulary those from the US
And we could all benefit from quality input from the old hands ie the genuine LTHs
Anyone is welcome providing he follows the rules set out by Matt Brown
Yes Conno presentation was magnificent and made the points professionally.will attract many investors or my name is Giltsponge.
basbas you're probably correct thinking about it, especially now G has just turned up. OK I'll see how much of it I can stand and will then retreat gracefully back here if it all gets too much.
It seems the ITV evening news coverage was better than the BBC's earlier attempts. Unfortunately the ITV.com video clip won't play unless you are resident in the UK. More professional seems to be the general consensus. Did any of you guys manage to see it?
It gets better still.
From Hydrogen Car & Vehicle
ITM Home Hydrogen Refueling Station Unveiled
July 9th, 2008
ITM Power looks like the dark horse breaking away from the herd as it has made an aggressive move to become the only company to offer a commercial home hydrogen fueling station. In the past, I’ve talked about General Electric, Honda and General Motors all developing such H2 refueling units, but these are still in the development stage.
In addition, Hydrogenics used to offer the HomeFueler unit, but from their website it looks like this has been dropped from their product lineup. One can still purchase the larger Hystat-A unit, but this is typically used for larger applications than home refueling.
The ITM home hydrogen refueling station is based upon a special proprietary plastic membrane, which took six years to develop, and separates water into hydrogen and oxygen. The hydrogen is then separated and used to refuel the H2 car.
For the unveiling of the hydrogen station, ITM Power set up a display home in Sheffield, UK, which also featured a Ford Focus that Roush Technologies had converted to run on hydrogen gas. The simple conversion included a hydrogen tank and four injectors costing roughly $6,500 in total plus an electronic chip and presumably software and no price was given for these last two components.
As hydrogen conversion kits go, this is far cheaper than other conversions of gasoline-powered cars from different manufacturers costing over $50,000 or the conversion of a CNG vehicle at over $15,000.
The ITM refueling station prototype that was unveiled in Sheffield can only provide enough capacity to run overnight and refuel a hydrogen car for 25 miles. As the development continues the capacity is expected to increase to at least 100 miles.
ITM sees its immediate customers as being the managers of large fleets such as the post office or other package delivery services. Next in line, when prices drop due to mass production, average consumers will also be in line for the home refueling unit. No price was given for the initial rollout of the ITM home hydrogen station, but ITM’s chief executive, Jim Heathcote estimates that with economies of scale the unit could drop as low as $4,000.
Conno I think sooner old G321 LTHs are out of that the better.then RIP >>> G,talks of blue sky out of his nether orifice, other muppets having to agree with each other..others winding up.. Sounds a set up for a shorters play to me..
ITV was most professional and serious report yet, and should attract plenty of investors tomorrow.. USA E & W coasts to come plus Asia!!!.
Gerry I discovered that from Babbo's post yesterday
basbas - Not to the known clowns, no of course not, but would be good to provide a helping hand to new arrivals who are genuinely interested. One or two arrived today so would be a real shame to have them frightened off by the morons.
Gerry - yes I noticed that yesterday but only happened to me when I tried to access the IH charts.
Conno / basbas
Will post an analysis of todays RNS in a couple of hrs
Have just discovered that you MUST always "LOG OUT of this site otherwise it can sometimes screw up the ADVFN cookie and lock you out of the other ADVFN UK site until you clear the cookies from Internet Explorer on the Control Panel
Conno attracting comedians and windup merchants now on 2nd site, which should be allowed to rest in peace..else waste of time energy, and confusion. Was pretend feud to pull a scam ??or to hijack gerry's thread. First i'll look after things for you, honest gov, then why are you still posting on your own site .....stinks.. Do you really want to play nursemaid there?
I thinks it's going to be a long week correcting all the inaccuracies that are emerging on the other boards...Arrrrrr if I hear another ref to the Hindenburg I'll I'll I'll - I was going to say explode er lose my faith in human intelligence
Still remaining highly positive, I am pleased the sp closed only 4p down and actually hit its open price just before closing as well.
Not a bad day all in all I would say
Babbo I could not agree more. Gerry read the agenda of these posters correctly.They work like hyenas with good guys and bad guys. The chutzpah! trying to hijack his thread.!From a fellow who claims he has standards. Yeah, thieves have standards.
They have done real damage in the run up to demo ...Enough already.. Morgleman sold out! Spawney stopped out! sad really..Don't know if shorters still holding their nerves..
You saw I e-mailed the Governator on £7 @ 2010 thread..
We shall not recognise the ITM profile soon..Gerry please recap on all the good announcements we expect soon, Roush, Bi-Fuel, OBs, Places far from reach of electricity grids, NH3, 100mile range, 100kw electrolysers, the list is endless.. you can run a book on what's next.. I certainly hope the riff raff won't be able to short this once it gets to be a big chip.. I know this is good stuff when Dr Hart from Imperial lets it get under his skin! Shame..
Those other bbs are pissing me off today, theres too much activity and disruption not giving a clear view.
When you analyze it we are exactly at the same position we were last week sp wise, nothing gained nothing lost.
In general a good start to the PR if not a little disappointing SP reaction....still early days I suppose. Couple of links that cover the story admirably.
http://www.dailymail.co.uk/sciencetech/article-1033683/Fill-car--home-hydrogen-fuel-station.html
http://www.thestar.co.uk/news/Firm-paves-way-for-alternative.4268876.jp
asparks - 9 Jul'08 - 09:34 - 4729 of 4729
THIS THREAD IS CLOSED
USE THE NEW ITM THREAD: http://www.advfn.com/cmn/fbb/thread.php3?id=17542145
Gerry , are you aware of this?
BBC-TV Demo of ITM's Hydrogen FordFocus is a good trailer for the launch. Thanks Babbo for the link. I think mention of expert opinion on batteries may be a neat way to start debate that H2 is cleaner, more eco friendly and in effect cheaper than batteries
OK panic over its happening to all ticker symbols,
excellant peice Gerry, I shall keep my eye peeled
By the way any of you experiencing difficulties on www.advfn.com this morning,? when putting in ITM its an unrecognised symbol
basbas
The ITM HRU breakthrough technology and car retrofit kit ought to be a sensational news item in the USA
The New York Times have an excellent energy feature writer Norman Mayersohn who authored an excellent article on the Honda home refuelling station several weeks ago
This guy is on the ball as evidenced by his perceptive Honda piece
I would be very surprised if he wasnt invited by ITM to the demo as he would easily figure out the potential of the ITM HRU for the USA which ITM have publically declared is their target market
So
I would be very very surprised if the ITM demo doesnt feature in the New York Times
Glad you made it here Conno, and not before time. You should get TT & Idioterna here. Not too sure how price will play out today. 100,000 sold @ >64p I don't know how much more in that cupboard.
However, once ITM's technology is out in daylight,and credible reporters endorse in good publications, a serious rerating should follow; SP effectively writes the IP down to pennies !!
Hi Guys good to see you all here. Lets do our best to enlighten our American friends of the amazing opportunities presented by ITM. Last five top ups were @
27 Feb 69p.
28 Feb 72p.
06 May 46p.
24 Jun 46.5p.
30 Jun 54p.
Now have an average of 97p. Won't be long basbas before even your wife and children love you again. SP following a similar pattern to Friday and Monday. Lazy morning - exciting afternoon. Expecting some fiz towards the close today.
Regards Conno
I shall be keeping an open mind as to recent comments and as to where the demo is being held.
D-Day in the West End of London, if true, will be high profile enough, and may be appropriate given the technology is British.
Tony Blair championed CWR which did them no harm; irrespective of what we think of Gordon Brown, it would do no harm for him to champion ITM. ITM will need establishment protection if the technology is as disruptive and revolutionery as we believe.
On my wish list"that a reputable technical reporter to write up the innovations and their import in the FT and quality publications",to get away from work in progress syndrome and declare that ITM has actually arrived in the commercial world.
problem fixed
You need to come off the internet and
go to control panel
click all of
Network and Internet connections,
internet options ,
general,
and then delete..... temporary cookies etc
Gerry/Basbas
I had this problem yesterday maybe related you need to doboth/either of 2 things.
1 Log out of Investors hub only once
2 Do not tick the box (keep me logged in on this computer)
Hope this helps
Basbas/Babbo
Theres a funny thing
I get redirected to Ihub when I google ADVFN.co.uk so I cant get through either
I have emailed Matt Brown to query why this is happening
basbas, just tried both I can get through ok
babbo
Hope you make into the blue soon
Chaps, back again and in full swing now.
I also do not have any more funds otherwise I would also be topping up.
In at 69 and 111p doesnt seem so bad as I watch the portfolio on my TD account creep back up but still heavily in red.
No one else seems to have registered on this thread, cant think why, only a few clicks.
Heres a thought
If ITM are intending to sell in the USA they will either have to create an export organisation based in the UK with frequent travel to the States
or
much more likely set up a US subsidiary who will import product and sell across the US
A preamble to doing this would be to list on a US Stock Exchange
which is what the Candian OB electrolyzer cos had to do when they started selling in the US
So
I wonder if anyone knows how to go about finding out whether ITM Power are trying to set up a US subsidiary ?
Gerry thankfully I topped up twice recently @ 57 and will do so again once SP goes up a bit more. My wife keeps reminding me for putting her and the children in at £3.56 but I never once doubted they'd get back there and beyond. Our family average is somewhat less than £2 so I am waiting ...
Basbas
Didnt you top up recently ?
I hope so.....
Sadly my funds are all tied up so no more top ups for me
Hopefully there will be some US interest after the demo particularly if it gets coverage in the California media
Cheers
ps You can post 15 / day after your initial posts have been vetted
Gerry your timing for starting this thread was inspired..
Babbo SP: ITM actually closed at 64.75p and not 63.5p.
Babbo will sleep a happy man tonight as they closed above 60p, 63.5 to be exact, and the fun should intensify as we get closer to D-Day.
Gerry D-day may well be in California, which makes sense. You better refrain for now from smoking $100 Bills, grass or anything else for that matter if you want to live to enjoy seeing ITM at the proper share price level , and to enjoy the wealth your ITM holding endows upon you.
Other thread down all day. what a shame!. withdrawal symptoms for some or kittens for others. I do not miss the clutter. I was right the MMs are short. G-d help the shorters when they decide to close! I wonder what tomorrow will bring...
babbo
Maybe, just maybe this demo is in california
.......where it should have been in March...had JL not been let down by the sub contract cell housing supplier.......
Thanks basbas, you too, probably my last post today as this is my 3rd, but good luck to you, Gerry and all other GENUINE committed LTH's.
BABBO
superb, finally busted 60p intraday, just hoping it will close @60p or above as indications are everything is lining up nicely i.e news, sp etc,etc.
Good to see you here Babbo. Regular LTHs do not know where to find this as website hosting old thread is down!. ITM tickling 60p; pleased the price is not surging yet. I do not think the marketmakers hold stock and expect to see a healthy rise once good news is out.
Ive always believed ITM has the potential to do really well as the humongous size of the opportunity for ITM is not readily discernable, unless you know the field and that's my reason for following Gerry here. Not long to wait now for what we already know to be there, but for the world at large, seeing will be believing.
Gordon Brown is running around looking for great causes to champion and perhaps he take on this Great British technology once demonstrated to the invited media on 9th July.
Hi babbo
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I like this new site, nice find Gerry and determination shall prevail.
I am wrong or are there only a maximum of 15 posts per day?
basbas
While I would obviously be happy for any of our UK LTHs to post here
My real hope is that we attract some US investors to post and later invest in ITM
You know ....if internet BBs had existed back in the 70s and I was a participant ......(two big ifs)
and
If one of our US friends had saw fit to advise us on the technical benefits of Microsoft on a UK BB having noticed that there were few if any UK investors posting on their US BBs
Then
I wouldnt be posting here today
I would be smoking $100 bills and lying under a palm tree somewhere
Instead
I have to wait another 2 yrs or so
Ah well
,,,,,,,,,,,,,,
Re the Man
Unless he follows me onto this Board and I have to get him excluded
I wont be mentioning him again
Cheers
Solar Panels
We know that ITM`s priority is electrolyzers and that their first product will be the 10 Kw Home Refuelling Unit to be launched on 9 July 2008
However we still await a further update on the plastic moulded solar panel that ITM have been working on since 2004
The last comment was in a 31 July 2007 interview when the ITM CEO Jim Heathcote said:
“ITM is also working on household solar panels which make electricity to produce hydrogen that can then be used in the car or for household heating
This is in early stages but it could mean you have a non-polluting household,"
The 31 July results statement also included the comment:
“ITM has also been working on two long-term research programmes that rely on the same basic understanding of chemistry to our electrolysis and fuel cell work. The organic solar photovoltaic research programme continues to suggest encouraging possible solutions to the development of much lower cost photovoltaic systems by eliminating silicon “
,,,,,,,,,,,,,,,,,,,,
To try to get underneath these comments I`ve had a look at the two ITM patents covering the photovoltaic solar panel cell and the photo electrolysis solar panel cell
Google WO/2005/020332 and US20030226762 for the patents
Basically, the photo voltaic patent is saying that the new patented plastic membrane material used in the ITM electrolyzers and fuel cells is also amenable to light and therefore an ideal material for a solar panel
i.e
When light rays strike the membrane they can be turned into an electric current in a photo voltaic panel
And
When light rays strike the membrane they can be turned into hydrogen in a photo electrolysis panel
So what !
you might say ……Can you not do that in a silicon panel ?
However
ITM have already demonstrated that their materials have a number of unique properties which do not exist with other semi conductors like nafion in fuel cells or silicon in solar panels
eg
Transparency ….i.e. will let light pass into the membrane
And…if shaped like a lens and redirected to where it is most useful,,,,,
will magnify unusable low energy light to a level when it can be made into useful current
And
The whole process can be magnified by a tiny electric current which excites the light and makes it give up more of its useful energy
And
The solar cell can be controlled at the individual cell level using ultrasonic sound
This means for example that the absorption capability of individual solar cells in a solar panel could be tweaked to give the most amount of current when the light striking it is varying due to weather conditions
And
The cell is hydrophilic meaning if it sits in a bed of water it can produce hydrogen and oxygen instead of electricity
And
The solar panel can be moulded as a single entity thus slashing production costs
And
….Because of these unique features
The membrane material can convert a much higher proportion of the light energy striking the panel than is possible with silicon
And best of all
The patented membrane material can be manufactured from ingredients which are very cheap by comparison with manufacturing silicon solar panels
So
To summarise
Although ITM have targetted the Home Electrolyzer Market for their first income stream
The solar panel market is another potential moneyspinner
Indeed
depending on the progress ITM have made since July 2007 in developing their solar panel
The possibility exists for them to license manufacturing of the membrane material for sale to the solar cell industry
In the full knowledge that the solar panel market is……..
……here already
------ with real live customers
…… expanding at 20% + pa
…….with profitable cos
……. a world wide market infrastructure
And
…….a shortage of silicon that will not be resolved in the immediate term
gerry
I am encouraged by your confirmation of the conclusion, though it was a bit obvious really. The Man seems to be more than one person as posts vary in mood, style and consistency of both content and message.
It tells me there are shorters who are really worried. I have a feeling that Citigroup or their nominees are among them. It would be a treat to see ITM supporters spring a bear trap. I could see that the MMs were short of stock after delaying the 100000 trade done at 7.59 thursday 3rd July at 57p, dropping the price to 54 and not managing to cover half the trade on that day or next.
I think JH strategy of waiting to have the proven product before shouting will pay off handsomely. I hope so as I have a lot of financial and altruistic eggs in this basket. Interested to see who comes here from your older thread posters.
basbas
I am too long in the tooth to believe that the timing of the Man`s behavior is a coincidence
All you need to do is consider this
1 For every reference link somebody posts on a BB the person has to have ..........
Visited the link
probably through googling and reading several other irrelevant links
And
Read the link fairly thoroughly and concluded it was worth sharing......
And
Come out of the link ,brought up internet explorer and opened the BB website
And
Compose some words to go with the link
And
Edit the spelling and english
And
Post the post
2 When you examine some of the groups of posts with links that the Man has made, you will see that the time interval between many of them is too short to enable 1 above to be done
3 When you look at the posting record of the Man under "Charts and Research" -----News Monitor....you will see that he doent eat or sleep a great deal he spends all day every day in front of a pc or has done since mid June
Ergo
Is the Man a machine...?...or is this several people working to some kind of plan to
1 create multiple posts and store them
and
2 post multiple posts
Fortunately the Investors Hub BB wont allow him to post any more than 3 times a day
Matt Brown is even longer in the tooth than I am
and
He can recognise this behavior for what it really is...
Good Fortune waits to smile at ITM's and Dr Highgate's works post the demonstrations on wednesday 9th July.
I was Intrigued about your question on Man's posting style on ITM thread against same person's posts at other threads. Man seems to be obsessed, to have big agenda and maybe back up to be able to post in the fashion he does. Power glitch at ADVFN host meant Friday's closing price of 59.25 not showing on your chart. Good luck to ITM for its success. The world needs it.
ITM Power Own The Keys To The Hydrogen Economy
This thread was created 5 July 2008 because ITM will be launching their first product in England on 9 July 2008
As a significant UK investor in ITM I have a vested interest in their commercial future
ITM have a number of LTHs who communicate regularly on the UK ADVFN Bulletin Boards.
The posts number well into the 000s
Unfortunately there appears to be no regular posters from the USA or Canada
Hopefully this thread will help brief potential new investors on the potential of ITM to become the Microsoft of the hydrogen economy
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ITM Power are an English Fuel Cell and Electrolyzer Co listed on the London AIM Market They have around £25m in cash and a cash burn of under £5m pa
Website http://www.itm-power.com/
ITM make the astonishing claim that they hold the keys to the hydrogen economy
This claim is based on new patented membrane materials for use in fuel cells , electrolyzers photo voltaic cells (solar cells) and photo electrolysis cells ( which produce hydrogen direct from sunlight).
This material is 1% of the cost of the world industry standard Nafion made by Dupont
It is 25% more conductive than Nafion and does not suffer from many of the features which cause nafion fuel s cells and electrolyzers to be so expensive
These advantages over Nafion are:
The material is hydrophilic ( water tolerant ) unlike Nafion which must be kept dry
The material can be acid or alkaline unlike Nafion which can only be acidic
The material is not dependent on platinum catalysts and works well with low cost catalysts
The material can operate at either high current density or high voltage
The material water flow can be controlled ultrasonically
In addition
Individual cells in a stack can be switched on or off or varied unlike Nafion cells which can only be controlled at the stack level This means for example that the output of a 100Kw stack can be controlled in steps of 200w or 0.2%
The material is cheap to buy
The cell stack can be moulded in multiples of around 25Kw at a volume of 1m3 simply by pouring the liquid membrane material into a fuel cell or electrolyzer frame inside a box. When irradiated with gamma rays the unit becomes solid
The overall impact of these advantages is that ITM fuel cells and electrolyzers can be made for under 10% % of the selling price of the current best in class and will deliver a higher and more reliable performance
The membrane material has been successfully operated as an electrolyzer on a test rig on a 30min/off 30min on cycle for over 10000hrs
ITM fuel cells will be suitable for deployment in a wide range of products including, portable power requirements (e.g. laptops, mobile phones), domestic power plants, UPS systems, distributed (non-grid) power, motor cars and other forms of transport.
ITM electrolyzers have a wide range of applications including the production of hydrogen from off peak or green power
for use as
A fuel in domestic low carbon housing to produce peak power or use in cooking or heating
An additive to diesel where a saving of 14% in mpg is obtained together with reduced emissions (road transport, locomotives, ships and planes)
A fuel for hydrogen powered cars either manufactured at gas stations or in a home Refuelling Unit
Standbye engines
Improving combustion performance of power station boilers
Cooling power station generators
Low cost / high performance replacement for catalytic converters
Business Model
ITM intends to build income streams from a variety of sources as the advantages of ITM systems are recognised. ITM does not intend to become a large scale manufacturer but will seek to join industry partners and OEMs to deliver low cost solutions, although there may be occasions where low volume high margin production would be undertaken.
It is therefore envisaged that revenues will primarily be generated by commercialisation of both technologies
via four main avenues:
. joint ventures;
. licensing;
. grant funding; and
. niche manufacturing opportunities.
ITM claim their electrolyzer can be made for under $164/Kw
The true cost is probably around $60/Kw in high volume production
Current electrolyzers on the market today sell for over $2000/Kw
,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,
On 9 July 2008 unveiled a a 10Kw Home Electrolyser Unit at a media event in England The volume cost of this Home Refueler is approx $4000 with a projected life cycle of at least 10000 running hrs (last real time test was over 11500hrs)
The Home Refueller is capable of making H2 at 75 bar from offpeak power for around $1.83 per gal of gasolene equivalent Approx 3hrs of electrolysis are needed to make the H2 for one gal of gas
ITM will also be offering a 75 bar retrofit H2 tank and system which will comfortably give 25mls per day in a Ford Focus Greater mileages are possible with vehicles capable of taking larger 75 bar tanks
A collaboration agreement with Roush Technologies UK was announced on 28 March 2008 to jointly market ITM`s Home Electrolyser and a Roush hydrogen/gas Ford Transit
A Cooperative Research and Development Agreement (CRADA) has been signed with United States Naval Undersea Warfare Center to investigate unmanned submarine applications for ITM`s dual liquid fuel cells
An MOU has been signed with HEC of Iowa to develop non polluting green energy systems
An agreement has been signed with Mike Strizki of Renewable Energy International to provide electrolysers for hydrogen homes in the Caribbean
A productionised version of a dual liquid non inflammable micro fuel cell has been demonstated to military agencies
A project to make liquid fuel from atmospheric carbon dioxide and hydrogen from an electrolyser has produced encouraging results
A 2004 project to use low cost patented materials to replace silicon in a solar cell and therebye increase conversion efficiency is showing promising results
Hydrogen/diesel combustion trials have demonstrated that a hydrogen / diesel mixture of 20% to 30% in common rail engines will provide the same performance at greatly reduced pollution
The addition of 7% hydrogen enables engines running on natural gas to half their already low emissions and improve their mpg This hydrogen can be sourced for free using buses and similar vehicles via a low cost ITM electrolyzer powered by roof mounted solar panels
A site worth visiting is Greg Blencoe of Hydrogen Discoveries. Greg has been tireless in promoting the cause of the role of hydrogen in the global green economy His impartial assessment of ITM technology vindicates the belief of all LTHs
ie
If ITM can deliver what they claim, then they are in the forefront of opening up the hydrogen economy
see
http://www.hydrogendiscoveries.com/
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