REG - Clean Power Hydrogen - Renewed Contract Terms for MFE220 Sales Contracts

Clean Power HydrogenAnnouncement

15/10/2024 07:00

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RNS Number : 1099I  Clean Power Hydrogen  15 October 2024

 

 

15 October
2024

Clean Power Hydrogen plc

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

 

Renewed Contract Terms for MFE220 Sales Contracts

 

CPH2, the UK-based green hydrogen technology and manufacturing company that
has developed the IP-protected Membrane-Free Electrolyser ("MFE"), is pleased
to announce a recommitment by its existing customers Northern Ireland Water
and Fabrum Solutions Limited, with renewed contract terms for the provision of
its flagship 1MW Membrane-Free Electrolyser, the MFE220 ("MFE220").

 

As a result of the separately renegotiated contract terms the completion dates
for three MFE220s under contract have been reset to 2025. The contract for
Northern Ireland Water is for one MFE220 unit which will be deployed to
Belfast, Ireland. Two MFE220 units will be provided to Fabrum Solutions
Limited which will be located in New Zealand.

 

This follows the successful Factory Acceptance Test ("FAT") of the MFE110,
which confirmed the first customer acceptance and validation of the company's
unique scaled electrolyser technology. The Company has now moved to a new
commerciality phase where the focus is on completing the three contracted
MFE220s generating the Company's first revenues in 2025, activating licensees
to facilitate further market growth and expanding the commercial pipeline.

 

Jon Duffy, CEO of Clean Power Hydrogen commented:

 

"I am delighted by the recommitment of our existing customers under renewed
contract terms, demonstrating a strong underlying confidence in our MFE
technology. As we move into the commercialisation phase, the continued
interest from our customers supports our commitment to advancing the next
phase of growth to deliver a robust, industry-ready commercial product for the
hydrogen industry."

 

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
 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 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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