ITM Power launches Motive division, hires managing director

Energy storage and clean fuel company ITM Power announced the appointment of Duncan Yellen as the managing director of its ITM Motive division on Friday, which is responsible for the UK build, own and operate portfolio of hydrogen refueling stations.

The AIM-traded firm said ITM Motive would be established as a separate, wholly-owned subsidiary for the management of its refuelling assets.

It said Dr Yellen has had a 30-year career in the energy and environmental sector.

Before joining ITM Motive, he was most recently mergers and acquisitions, and business and project development manager at Storengy - a wholly-owned subsidiary of Engie - where he was responsible for identifying new business streams, and successfully developed its business strategy in green gases, CNG and geothermal.

From 2012 to 2018, he was head of consulting for EA Technology, managing a team of 40 consultants.

Dr Yellen’s early career was with National Power in the UK, and with British Gas in various technology and business development roles.

He has an MBA from Bradford University, and a PhD in materials science and BSc in physics from Liverpool University.

On establishment, the company said ITM Motive would own and operate a network of eight publicly-accessible hydrogen refuelling stations, which would expand to 11 by the end of 2020.

Each features an ITM Power electrolyser and a Linde IC90 compression, storage and dispensing system.

ITM Power said it had successfully sourced both UK and EU funding to support the build and deployment costs, and developed a siting agreement with Shell for deployment on their forecourts in the UK.

The firm said that, in “close collaboration” with Linde, it had demonstrated a “world-class” station availability of 98%, which was encouraging further fuel cell electric vehicle (FCEV) roll out in the UK.

ITM Motive's sites in the UK were still operational as an essential service during the current Covid-19 coronavirus lockdown, refuelling vehicles for the Metropolitan Police and Green Tomato cars, which is providing transport for NHS staff, among others.

“We're delighted to have been able to recruit Duncan to be ITM Motive's managing director,” said chief executive officer Dr Graham Cooley.

“He has exactly the right mix of relevant experience and entrepreneurial ability to develop the business's portfolio and drive it to profitability.”

Duncan Yellen himself added that it was an “exciting role”, with a company “in the vanguard” of the hydrogen revolution.

“The UK has the opportunity to become one of the world leaders in the transition to zero carbon energy and fuel.

“Transport needs to decarbonise and I look forward to helping cement ITM Power's position at the forefront of this change.”

At 1026 BST, shares in ITM Power were up 10.39% at 194.72p.