ITM Power signs fuel contract with Honda UK

AIM-listed energy storage and clean fuel company ITM Power has signed a fuel contract with Honda UK for its fuel cell powered vehicles.

Priced at £10/kg, the contract covers fuel dispensed across ITM's hydrogen refuelling network and marks the seventeenth fuel supply contract the company has signed. It is currently rolling out a network of 10 hydrogen refuelling stations in the UK, four of which are now open for public access.

Each station produces hydrogen on site via ITM Power's rapid response electrolyser system, and can refuel a fuel cell electric car in three minutes, providing 300 to 420 miles of clean emission driving, without compromise to drivers' normal refuelling routine.

Chief executive officer Dr Graham Cooley said: "We look forward to supporting Honda and its HyFIVE customers with their refuelling requirements for the Clarity Fuel Cell as our hydrogen refuelling station network expands throughout the UK."

Thomas Brachmann at Honda R&D Europe said: "We are delighted that customers using Honda's Clarity Fuel Cell in the HyFIVE project can refuel at ITM Power's hydrogen refuelling stations. Working together with industry partners, such as ITM Power, drivers of fuel cell vehicles can enjoy rapid refuelling at one of the growing number of stations across the UK."

At 0905 BST, the shares were up 2.4% to 21.25p.