REG - Clean Power Hydrogen - Investment in ATOME Energy plc

Clean Power HydrogenAnnouncement

12/12/2022 17:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20221212:nRSL4416Ja&default-theme=true

RNS Number : 4416J  Clean Power Hydrogen  12 December 2022

 

 

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No.
596/2014 which is part of UK law by virtue of the European Union (withdrawal)
Act 2018. Upon the publication of this announcement, this inside information
is now considered to be in the public domain.

 

12 December 2022

 

Clean Power Hydrogen Plc

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

 

Investment in ATOME Energy plc to accelerate roll out of MFE220 and MFE440
electrolysers across South America

 

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 the Company has subscribed for 1,412,429 new Ordinary Shares
in ATOME Energy plc ("ATOME") at a price of 106.2 pence per share for a total
investment of £1.5m as part of ATOME's placing announced today. The
subscription will be settled out of the Company's existing cash resources.

 

In March 2022, CPH2 and ATOME entered into a purchase order for the sale of a
1MW MFE220 electrolyser to be deployed in ATOME's Paraguay mobility project.
The two companies also entered into a non-binding collaboration agreement in
respect of potential future orders of electrolyser units for ATOME's
international hydrogen and ammonia projects, and to investigate and discuss a
potential joint venture for the future production of electrolysers in-country
to serve the Latin American market using CPH2's technology and know-how.

 

Today's investment in ATOME accelerates both ATOME's and CPH2's roll out of
green hydrogen electrolysers across South America and is a demonstration of
CPH2's commitment to ATOME's Mobility Division, which is expected to be the
first commercial production of hydrogen for transport in Paraguay when it
commences next year.

 

ATOME, a fellow Yorkshire headquartered company, which listed on the AIM
market of the London Stock Exchange in 2021, is an international company
focused on green hydrogen and ammonia production with advanced plans for up to
500MW of projects located in Paraguay and Iceland with a signed Power Purchase
Agreement with ANDE, the Paraguayan National Power Company, for a 120MW
dedicated green ammonia facility. In the 12 months to 31 December 2021, ATOME
recorded a loss for the period of US$2.2 million.

 

 

Jon Duffy, Chief Executive Officer of CPH2, commented:

 

"Today's announcement marks an extension of our ongoing collaboration with
ATOME for the use of CPH2's electrolyser units in ATOME's international
hydrogen and ammonia projects. The Company's investment in ATOME is expected
to accelerate ATOME's plans for the commercial production of hydrogen in
Paraguay employing CPH2's MFE220 electrolyser and therefore accelerate the
roll out of our electrolysers across South America."

 

 

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.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCUUABRUAUUAAA