ITM Power Plc (ITMPF)

[Gerry321]

ITM and Boeing`s Unmanned Air Vehicles

On 20 Nov 2007 ITM released the Boeing announcement which said

Preliminary Design Agreement

“ITM Power plc (AIM:ITM), the technology and research company focused on the commercialisation of the hydrogen economy, is pleased to announce that it has signed an agreement with Boeing Research & Technology Europe S.L. to prepare a Preliminary Design of an Environmentally Friendly Refuelling Station for Fuel Cell Powered Unmanned Air Vehicles. “
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Then in the Interim Results Statement on 31 Jan 2008 Peter Hargreaves said

“Elsewhere our superior fuel cell construction methods are also being sought as far afield as Boeing in Madrid and the United States Naval Undersea Warfare Center Division Newport. Our labs, which are working in close conjunction with our new
production facility, should enhance the Company’s reputation.’’,


When you read the first statement it rather suggests that the ITM have been asked by Boeing to design an electrolyser which would make hydrogen from green energy to be stored for use in refuelling Boeing`s Fuel Cell Powered Unmanned Air Vehicle.
However the second comment clearly implies that ITM`s Boeing contract also relates to fuel cells as well as electrolyzers
So perhaps a second contract has been placed by Boeing covering fuel cell design
Couple this with the announcement in July 2008 that Intelligent Energy who currently supply the Boeing UAV fuel cell were forced to raise another $13.6m to keep going and you might conclude that ITM are poised to join or replace IE on this project