REG - Clean Power Hydrogen - Fabrum Solutions Ltd receives order from Obayashi

Clean Power HydrogenAnnouncement

27/03/2023 07:00

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RNS Number : 1879U  Clean Power Hydrogen  27 March 2023

 

27 March 2023

 

Clean Power Hydrogen Plc

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

 

Fabrum Solutions Ltd receives MF220 order from Obayashi

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 New Zealand based Fabrum Solutions Ltd ("Fabrum"), with whom
CPH2 executed a manufacturing agreement in January 2023, has received an order
from Obayashi Corporation ("Obayashi") for the delivery of a MFE220 unit.
Obayashi is a Japanese construction company listed on the Tokyo Stock Exchange
and part of the Nikkei 225 index.

 

The unit ordered is a 1MW MFE220 with delivery from Fabrum expected in
approximately 13 months, with the destination of the unit expected to be
Auckland, New Zealand. Obayashi has several interests in green hydrogen
production projects in New Zealand including Halcyon Power Ltd, the 50/50
joint venture between Tuaropaki Trust and Obayashi Corporation, where Halcyon
aims to use electricity generated by the Tuaropaki Power Station to feed the
rollout of fit-for-purpose, safe, innovative, durable and affordable fast
hydrogen refuelling stations.

 

The order represents Fabrum's first customer under CPH2's manufacturing
agreement for which CPH2 will receive a technology fee as well as revenue from
the sale of key components including CPH2 stacks.

 

Fabrum has previously ordered two MFE220 units from CPH2, with the first
container having already been shipped to Fabrum's facility in New Zealand, as
announced on 31 January 2023, where it will be fitted out with the remaining
components and commissioned for use.

 

CPH2 is committed to its strategic target of 4GW MFE annual production by
2030; of this 1GW will be in-house manufacturing and assembly and 3GW will be
via license agreements such as that agreed with Fabrum. Interest in CPH2's
innovative and disruptive hydrogen electrolyser technology continues to grow
and our agreement with Fabrum allows for faster scale up and market
penetration in Australia and New Zealand.

 

Jon Duffy, Chief Executive Officer of CPH2, commented:

 

"I am delighted to see our manufacturing agreement signed with Fabrum earlier
in the year already bearing fruit. The order from Obayashi, a significant
global construction player, goes a long way to validate our technology and its
practical uses in the production of green hydrogen.

 

The use of licence agreements by CPH2 to achieve our strategic target of 4GW
MFE annual production has always been of key importance and we look forward to
working with Fabrum to continue our positive progress to date."

 

 

For more information, please contact:

 

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

 James Hobson, Chief Financial 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
 Lily Pettifar

 

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.

 

Overview of Fabrum

Fabrum is headquartered in Christchurch, New Zealand and leads the world in
industrialized small to medium scale liquefaction systems and composite
cryogenic vessels.

The company is actively deploying end to end liquid hydrogen solutions
globally across heavy transport, mining and aviation markets. Core
competencies include green hydrogen production, storage, dispensing and system
integration.

Fabrum also has a strong presence in the traditional cryogenic markets of
liquid nitrogen (LIN), liquid oxygen (LOX), LNG and Liquid Air (LAIR) with
customers ranging from Animal husbandry, Hi-tech research institutions,
Manufacturing and Defense forces.

 

 

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