"ITM Power (AIM: ITM), a clean energy company focused on developing technology to alleviate the present dependence on hydrocarbon fuels, announces that an invitation only media launch of its home refuelling system and bi-fuel car will be taking place on Wednesday 9 July 2008."

ITM Power is the brainchild of Dr Donald Highgate, who is a physicist with a background in hydrophilic polymer chemistry. Much of his lifetimes work has been dedicated to realising the dream that is an affordable hydrogen economy. The company claims to have developed new materials and processes that dramatically reduce the cost of fuel cells and electrolysers. The patented membrane materials used in the devices are claimed to be "1% of the cost of the industry standard materials".

These claims are no small feat. Such large cost reductions are likely to have a far ranging impact if they can be realised (not to mention put a lot of competitors out of business).

Commercialisation is often the stage where many hydrogen technology firms fail to deliver. Thankfully ITM is backed up by an experienced board who should be able to do Dr Highgate's work justice:

• Peter Hargreaves - co-founder of Hargreaves Lansdown
• Jim Heathcote - Founder of the Katalyst Hydrogen Fund
• Lord Peter Walker - previous Conservative Secretary of State for the Environment
• Roger Putnam - former Chairman of Ford of Britain

This is certainly one to keep an eye on and I wouldn't be suprised if next weeks show develops some serious media interest.

The original news release can be found here: http://www.itm-power.com/news/62.pdf