ITM Power lifted by London hydrogen car delivery from Toyota

Shares in fuel cell developer ITM Power were given a small boost by the news that Toyota has delivered a dozen new zero-emission vehicles powered by ITM's hyrdrogen fuel cells to the city as part of the city's commitment to improve air quality.

Transport for London will use four of Toyota's hydrogen powered car, the Mirai, which is the first hydrogen fuel cell sedan vehicle to be commercially mass produced. Currently there are only seven zero-emission hydrogen passenger cars in use in London.

The arrival of the new zero-emission cars from Toyota, plus plans from Hyundai to soon introduce its own version, is supported by the roll-out of new refuelling stations for hydrogen vehicles, and Mayor of London's plans to introduce the world's first ultra-low emission zone from 2020.

Transport for London runs eight hydrogen-powered buses and is set to grow this fleet to ten in 2016.

Hydrogen powered vehicles emit no emissions from the exhaust pipe, just water vapour, and have a comparable driving range, speed and refuelling time to normal cars.

While hydrogen is an abundant element, little exists in the pure form that fuel cells need and so it needs to be extracted from other compounds, like water or methane, which can be produced via renewable energy sources including solar and wind power.

As well as being exempt from the congestion charging fee in Central London, hydrogen vehicles pay no road tax and there is currently no duty on hydrogen as a road fuel.