REG - Clean Power Hydrogen - Manufacturing Agreement with Fabrum Solutions Ltd

Clean Power HydrogenAnnouncement

31/01/2023 07:00

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20230131:nRSe3251Oa&default-theme=true

RNS Number : 3251O  Clean Power Hydrogen  31 January 2023

 

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.

 

31 January 2023

 

Clean Power Hydrogen Plc

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

 

Manufacturing Agreement with 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 manufacturing agreement with New Zealand
based Fabrum Solutions Ltd ("Fabrum") (the "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.

 

Highlights:

·    Pursuant to the terms of the Agreement, Fabrum will have the right to
manufacture MFE220 units in New Zealand on a non-exclusive basis.

·    In addition, CPH2 has granted Fabrum a non-exclusive license to sell
CPH2 products in New Zealand and Australia whereby CPH2 will receive a
technology fee per unit.

·    CPH2 can order units to be produced by Fabrum in New Zealand and
Australia for new and existing CPH2 customers, with cost and profit-sharing
arrangements for such orders included in the Agreement.

·    First MFE220 container already shipped to Fabrum's facility in New
Zealand for completion and commissioning.

 

The Agreement, which will be effective for a period of ten years, will allow
an acceleration of the roll out of the Company's technology across Australia
and New Zealand as the market for hydrogen grows rapidly. The Agreement, which
is CPH2's first in the region, aligns with CPH2's objectives to license out
manufacturing of the MFE220 to accelerate the delivery of the technology to an
ever-growing market.

 

The Agreement strengthens the working and strategic relationship between the
two companies possessing symbotic, patented technologies which advance
Membrane Free Electrolysers. CPH2 has already shipped the first MFE220 to
Fabrum's facilities in New Zealand where it will completed and fitted out with
the remaining components and commissioned for use.

 

In December 2022, it was announced that CPH2 and Fabrum had executed a
development agreement for the purposes of the technical development of CPH2's
MFE. Under the terms of this agreement, Fabrum has been working 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. CPH2 has also 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.

 

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 will allow for faster scale up and market
penetration in Australia and New Zealand.

 

Jon Duffy, Chief Executive Officer of CPH2, commented:

 

"I am delighted to extend our working relationship with Fabrum, the world
leaders in cryogenic systems and hydrogen liquefaction through the
manufacturing and licensing deal. The collaboration between CPH2 and Fabrum
will allow for CPH2's MFE technology to be used across Australia and New
Zealand, where the green hydrogen sector is rapidly developing. We look
forward to continuing working with the team at Fabrum in the future."

 

Christopher Boyle, Managing Director of Fabrum, commented:

 

"We see the CPH2 technology as a world beating, low-cost solution to the
production of green hydrogen, which is why we are adding to our development
agreement with CPH2 with a full-scale manufacturing agreement. We are excited
to be able to offer CPH2's world leading MFE technology across New Zealand and
Australia. We have been experiencing strong demand for hydrogen solutions
across various industries in this part of the world. Our close partnership
with CPH2 will enable delivery of such solutions at a faster pace."

 

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.

 

 

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  AGREAEFEDEPDEAA