ITM Power Plc (ITMPF)

[Gerry321]

Yorkshire Forward are a British Government Agency responsible for promoting and investing in economic development in the yorkshire and Humber region of England This area includes Sheffield where ITM are located
Yorkshire Forward awarded ITM a grant of $1.6m in 2004 to assist in their research work into fuel cells and electrolyzers
ITM are the only fuel cell and electrolyzer co in the region capable of using wind energy to make hydrogen during periods when there is no demand for wind power
ie the hydrogen is produced at almost zero cost
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Yorkshire Forward `s Annual Report was released today and included this interesting statement
see
http://www.yorkshire-forward.com/asset_store/document/yf_ra08_full_10236.pdf

The last sentence may account for todays leap in the sp

Encouraging innovation for the low-carbon economy

We’re investing in supporting businesses to develop products and services which will help achieve our goal of a low-carbon economy.
Yorkshire Forward is investing £9.6m in the development and operation of an incubator building to support businesses entering the emerging low-carbon energy technologies market, with work due for completion in December 2008.
The Environmental Energy TechnologyCentre (EETC), to be built on land adjoining
the Advanced Manufacturing Park, Rotherham with investment from the European RegionalDevelopment Fund, will support more than 30 enterprises engaged in the development of products and services which will aid the transition to a low-carbon economy in the region. The building is a direct development
between Yorkshire Forward and the mini-grid. Businesses based here will be able to access the expertise behind cutting-edge manufacturing techniques and other technologies within the neighbouring Advanced Manufacturing Park.
Yorkshire Forward’s goal for the building itself is that it will meet or exceed the highest standards of sustainability and emission efficiency achieved in the UK to date.
The development will feature a renewable-energy wind-to-hydrogen mini-grid to supply heat and power to tenants, enabling the EETC to be self-sufficient in electricity.