ITM the alternative pick (alternative fuel cars)

Talking of oil, other companies are looking to benefit from the search for alternative fuel sources. Investors in ITM Power will learn a bit more today about some interesting plans the company announced this month. It launched its bi-fuel petrol and hydrogen car and home refuelling system, but was in a close period until now, so provided little more information. Its technology reduces the costs for hydrogen-powered cars, and it has also developed a home refuelling system to answer questions by sceptics of how to keep the wagon topped up. The stock has taken a bit of a hammering this year as the lack of news flow sent its shares plummeting to all-time lows. The news this month should prove good for the company, but as broker Panmure Gordon pointed out, any shareholder has to be in it for the long term; the days of the major car companies producing hydrogen cars – and hence its chance to properly commercialise its technology - could well be some time away.