ITM Power gets EU go-ahead

ITM Power, which specialises in energy storage and clean fuel, said it had CE compliance for its transportable hydrogen refuelling system, allowing commercial sales to begin in the EU.

A CE mark signals compliance with EU Directives and therefore enables free movement of a product within the European Market.

ITM said few of its competitors had achieved CE compliance for their products.

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Chief executive, Graham Cooley, said compliance has been a significant part of the product development process and its execution represented a "huge achievement".

"At a time when the UK Government has demonstrated commitment to hydrogen as a transport fuel through the UKH2Mobility programme, we are delighted to be able to show how our technology has transitioned to product," he said.

ITM's shares gained almost 6% following the announcement.

It has been a good few days for ITM investors who also saw their shares rise significantly last week after the company announced a tie up with UK retailing giant Marks & Spencer.

Using ITM's platform to generate hydrogen, a six week trial will see M&S using several fuel cell vehicles as a direct substitute for part of the existing battery powered fleet.

The move is part of M&S's"Plan A" initiative which aims to deliver zero emission vehicles which offer a two minute refuel time.

However, shares are still down over 30% since this time last year.