ITM Power (AIM: ITM), the energy storage and clean fuel company, is pleased to announce that it has signed a fuel contract, selling hydrogen at £10/kg, with Arval (BNP Paribas Group) a global leader in car and van leasing. The contract covers fuel dispensed across ITM Power’s hydrogen refuelling network. The refuelling network has been financially supported by Innovate UK, OLEV and FCH JU. This follows the successful award of funding to Arval announced by OLEV on 13 October under the FCEV Fleet Support Scheme.
Elliott Woodhead, SME & Partnerships Director at Arval, commented: “As an innovative provider of car and van leasing solutions for business it is vital that Arval is fully informed on developments that might affect our customers both now and in the future. Hydrogen has the potential to have a significant impact on our market and we need to be fully prepared for this. In signing this supply agreement with ITM Power we are pleased to be working with the leading innovator in the development of Hydrogen refuelling networks”.
Dr Graham Cooley, CEO, ITM Power, commented: “We are extremely pleased to be working with Arval in providing clean fuel for the roll-out of fuel cell electric vehicles to the wider business community. We look forward to supporting their fleets at our hydrogen refuelling stations.”