German Market Entry

On 1st March 2011, CoreTec launched its ‘German Market Entry’ service with the appointment by AIM quoted ITM Power Plc of Phil Doran as its agent in Germany.
Phil has been based in Frankfurt for 20 years and is a Core Technology Ventures Partner.

Germany is now a strategic entry point for hydrogen and fuel cell related technologies and a market that ITM Power is actively targeting. This appointment [of Phil Doran] is our next positive step towards a commercial presence and sales drive in the early adoption markets of Germany, the US and Japan

– ITM CEO, Dr Graham Cooley.

Outcome:

Following a number of highly relevant introductions and market activities, originated, coordinated and attended by Phil Doran from which emerged very positive results, the decision was taken by ITM to open an office in Germany:

the energy storage and clean fuel company, announces the incorporation of ITM Power GmbH, a wholly owned German subsidiary company, and the appointment of Mr. Philip Doran as its Managing Director. The Company is based in Frankfurt am Main.

– ITM Power (AIM: ITM) RNS.

Service:

Whilst operating a strict non-compete policy, CoreTec welcomes the opportunity to provide a Market Entry Service to companies wishing to locate in Germany in order to capitalise on the German market opportunity via CoreTec’s extensive industrial / SME / Technical Institute / Federal / Financial and ‘Centre of Excellence’ Networks.