4 October 2011 – fuel cell results

The outcome of a recently completed nine month fuel cell project has been announced, with all project objectives achieved.  The project was supported by the Carbon Trust as part of the Polymer Fuel Cells Challenge.  The next phase of the process will involve accelerated acquisition of test data while undertaking full life cycle cost analysis via the Carbon Trust’s cost model.  ITM Power’s materials have shown the ability to generate unprecedented power density, widely accepted as the most important factor in recucing the cost of fuel cells, when using either oxygen or air. 

We believe there is scope for exciting upside.  In a very downbeat day for the market the shares have only posted a modest increase following today’s announcement but in more normal conditions the impact would arguably have been far greater.  BUY.