REG - Clean Power Hydrogen - Agreements Signed with Fabrum Solutions Ltd

Clean Power HydrogenAnnouncement

22/12/2022 07:00

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RNS Number : 5423K  Clean Power Hydrogen  22 December 2022

 

 

22 December 2022

 

Clean Power Hydrogen Plc

("CPH2", the "Company" or the "Group")

 

Development Agreement and Extension of Supply Agreement signed with New
Zealand based Fabrum Solutions Ltd

 

CPH2, the UK-based green hydrogen technology and manufacturing company that
has developed the IP-protected Membrane-Free Electrolyser ("MFE"), is pleased
to announce that it has executed a development agreement with New Zealand
based Fabrum Solutions Ltd ("Fabrum") (the "Development Agreement"), one of
the world's leading cryogenic systems manufacturers for gas separation and
hydrogen liquefaction. Fabrum is the result of the merger between Fabrum
Solutions and AFCryo, the Company's supplier of the cryogenic systems since
2020.

 

Development Agreement

The Development Agreement has been executed for the purposes of the technical
development of the Company's MFE. Under the terms of the Development Agreement
Fabrum will work with CPH2, and its existing industry partner Kenera Energy
Solutions ("Kenera"), to provide engineering expertise in support of design
reviews, systems documentation and safety cases.

Fabrum will further provide technical support to accelerate the final
development of the CPH2 technology, including subsystem development of the
cryogenic gas separation and full system development. This development support
will be focused on the safe and efficient operation of the cryogenic gas
separation system at a 1MW scale and at the expanded operation level up to a
nominal 2MW scale.

Finally, whilst CPH2 undertakes the process of identifying and appointing a
Chief Technical Officer, Fabrum will supply CPH2 with the expertise of their
current Technical Director, Hugh Reynolds, who will assist on a part-time
basis in the role of Acting Chief Technical Officer for CPH2.

The Development Agreement compliments the existing arrangements with Kenera.
Following the execution of the Development Agreement the teams at CPH2, Fabrum
and Kenera will work alongside each other to accelerate the development and
production of the MFE220 units.

Supply Agreement

In addition, the Company has executed a deed of variation to its existing
supply agreement with Fabrum to allow it to purchase DPWG Cryocoolers for
embedding in its MFE products on an exclusive basis. The excusive supply
agreement is subject to various minimum order quantities being met in each
year of its initial five year term from the date of execution. Under the terms
of the revised supply agreement, Fabrum is also required to meet performance
and price criteria.

The revised supply agreement with Fabrum strengthens the Company's supply
chain security over a key component of the MFE as well as enhancing the
commercial alignment between Fabrum and CPH2.

 

Jon Duffy, Chief Executive Officer of CPH2, commented:

 

"I am delighted we are deepening our working relationship with Fabrum, the
world leaders in cryogenic systems and hydrogen liquefaction. The
collaboration between CPH2, Fabrum and Kenera, a global provider of innovative
customer-centric solutions, will ensure that we can utilise the broad
expertise of all parties in the production of the MFE220. The agreements with
Fabrum will lead to an acceleration to market of our MFE electrolysers and we
look forward to working with Hugh Reynolds and his team  and collaborating to
benefit all parties."

 

 

For more information, please contact:

 

 Clean Power Hydrogen Plc                    via Camarco
 Jon Duffy, Chief Executive Officer

 Cenkos Securities plc - NOMAD & Broker
 Neil McDonald                               +44 (0)131 220 9771
 Peter Lynch                                 +44 (0)131 220 9772
 Adam Rae                                    +44 (0)131 220 9778

 Camarco PR                                  + 44(0) 20 3 757 4980
 Billy Clegg
 Owen Roberts
 Fergus Young

 

To find out more, please visit: https://www.cph2.com (https://www.cph2.com)

 

Overview of CPH2

CPH2 is the holding company of Clean Power Hydrogen Group Limited ("Clean
Power") which has almost a decade of dedicated research and product
development experience. This experience has resulted in the creation of
simple, safe and sustainable technology which is designed to deliver a modular
solution to the hydrogen production market in a cost-effective, scalable,
reliable and long-lasting manner. The Group's strategic objective is to
deliver the lowest LCOH in the market in relation to the production of green
hydrogen. The Group's MFE technology is already commercially available and
demonstrating cost efficiencies and technological advantages. CPH2 is listed
on the AIM market and trades under the ticker LON:CPH2.

 

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