REG - Clean Power Hydrogen - New Licence Agreement and Sales Contract

Clean Power HydrogenAnnouncement

04/11/2024 07:00

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RNS Number : 7825K  Clean Power Hydrogen  04 November 2024

 

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inside information is now considered to be in the public domain.

 

4 November
2024

Clean Power Hydrogen plc

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

 

New Licence Agreement and Sales Contract with Hidrigin

 

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 entered into a Licence Agreement (the "Licence
Agreement") with Lisheen H2 Energy Park Limited, which trades under the name
Hidrigin ("Hidrigin"). In addition to signing the License Agreement, the
parties have entered into a Sales Contract for the delivery of a 1MW MFE220
electrolyser unit by CPH2.

 

Highlights:

 

·    The Licence Agreement grants Hidrigin the right to manufacture up to
2GW's of MFE220 units in Ireland to connect with its own Solar PV & Wind
Farms across the world for its own use.

·    Under the Sales Contract, Hidrigin will purchase a 1MW MFE220
electrolyser from CPH2 with delivery expected in 2025.

·    Hidrigin will outsource the manufacturing of MFE units to Jones
Engineering Manufacturing Limited ("Jones Engineering"), a global engineering
contractor.

·    Hidrigin intends to commence the manufacture of its first 1MW MFE220
unit at the Jones Engineering manufacturing facility in Co. Carlow, Ireland,
in 2025.

·    Hidrigin also plans to build a manufacturing facility in Lisheen
BioEnergy Campus as it scales up manufacturing of its MFE220's

·    Hidrigin has agreed terms to sell its Green Hydrogen which will be
produced in Lisheen as part of its Pilot Project to a number of commercial off
takers.

·    Hidrigin has €100m funding terms in place to build out the
renewable energy development together with its Green Hydrogen Pilot Project
commencing in 2025

·    Hidrigin's goal is to develop €500m of its own Renewable Energy
projects together with its Manufactured MFE220 Electrolysers across Europe by
2030

·    Hidrigin has appointed Lagan MEICA as its technical advisor to advise
on the construction commissioning and installation of its MFE220
Electrolysers.

 

The Licence Agreement between Hidrigin and CPH2 covers the construction of 2GW
of MFE electrolysers in Ireland over a period of up to 20 years. Under the
terms of the Licence Agreement, the manufactured electrolysers will be
exclusively used by Hidrigin and cannot be sold to third parties. CPH2 will
receive a fee in staged payments for the licence upon meeting certain
milestones which the Company expects will be achieved within the next two
years, as well as revenues from the sale of components and a technology fee
per unit manufactured. The Company expects that Hidrigin will commence
manufacturing its first MFE220 unit under the Licence Agreement in 2025.

 

Hidrigin will contract the manufacturing of MFE220 units to global engineering
contractor Jones Engineering, at its manufacturing facility in Co. Carlow,
Ireland. Jones Engineering is a global leader in mechanical, electrical, and
fire protection services, with over 130 years' of experience. Specialising in
sectors such as life sciences, data centres, healthcare and renewable energy.
Jones Engineering offers turnkey solutions, including modular manufacturing
and offsite fabrication. Known for their innovation and commitment to
sustainability, Jones Engineering supports complex projects worldwide, from
design through to ongoing maintenance, ensuring efficiency and quality across
diverse industries.

As well as contracting Jones Engineering for the manufacture of MFE220 units,
Hidrigin has appointed Lagan MEICA as its technical advisor to advise on the
construction commissioning and installation of MFE units. At a future date,
Hidrigin plans to build a manufacturing facility in Lisheen BioEnergy Campus
as it scales up manufacturing of MFE units'.

Hidrigin plans to utilise the MFE220 across its own Solar PV & Wind Farms
across the world and has agreed terms to sell its Green Hydrogen which will be
produced in Lisheen as part of its Pilot Project to a number of commercial off
takers. Hidrigin has €100m funding terms in place to build out its renewable
energy development together with its Green Hydrogen Pilot Project commencing
in 2025. Ultimately, Hidrigin has a goal of developing €500m of its own
Renewable Energy projects together with its Manufactured MFE220 Electrolysers
across Europe by 2030.

 

 

 

Jon Duffy, CEO of Clean Power Hydrogen commented:

 

"Our licence agreement and sales contract with Hidrigin showcases the
increasing customer demand for, and belief in, our MFE technology, underpinned
by the recent successful FAT. Our goal remains to produce electrolyser
capacity of approximately 1GW at CPH2 facilities and 3GW under licence, and
today's announcement gives a good indication of how we will look to achieve
that. Licensing agreements are a key part of our business model, helping to
scale the business globally and accelerate market penetration of our
groundbreaking technology by leveraging the resources of competent partners."

 

Eric Whelan, CEO of Hidrigin commented:

 

"CPH2's proven technology is a brilliant low-cost solution to the production
of green hydrogen. We are excited to be able to use this technology for our
projects here in Ireland and across the world, where the opportunity for green
hydrogen production together with renewable energy generation is unparalleled.
We look forward to working with CPH2 and with our expert partners at Jones
Engineering to build and deploy our electrolysers. We are also delighted to be
engaging Lagan MEICA to advise and install our electrolysers, which in turn
supports Ireland and Europe's renewable green hydrogen production goals."

 

 

ENDS

 

For more information, please contact:

 

 Clean Power Hydrogen plc                                via Camarco
 Jon Duffy, Chief Executive Officer
 James Hobson, Chief Financial Officer

 Cavendish Capital Markets Limited - 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 3757 4980
 Billy Clegg
 Owen Roberts
 Kirsty Duff

 

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 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. CPH2 is listed on the
AIM market and trades under the ticker LON:CPH2.

 

 

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