TIDMCPH2
RNS Number : 1903Y
Clean Power Hydrogen
05 September 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.
05 September 2022
Clean Power Hydrogen Plc
("CPH2", the "Company" or the "Group")
Agreement with KCA Deutag Group
CPH2, the UK-based green hydrogen technology and manufacturing
company that has developed the IP-protected Membrane-Free
Electrolyser ("MFE") for the production of hydrogen, is pleased to
announce that it has entered into a Technology Cooperation
Agreement (the "Agreement") with Bentec GmbH, an operating company
entity of Kenera Energy Solutions ("Kenera").
Kenera is a newly formed business unit within leading drilling,
engineering and technology company KCA Deutag Group. Kenera has
been formed as the platform from which the KCA Deutag Group shall
grow its offering within hydrocarbon and energy transition markets
and is a significant investor in CPH2.
Highlights:
-- Pursuant to the terms of the Agreement, Kenera will
manufacture up to 30 MFE220 units for CPH2 at its manufacturing
facility in Germany.
-- In addition, CPH2 has granted Kenera a non-exclusive license
to sell and manufacture CPH2 products in Germany, Scotland,
Azerbaijan, Denmark and Norway up to a maximum of 150 MFE units per
annum.
-- CPH2 has also granted Kenera an exclusive license to sell and
manufacture CPH2 products across the Middle East up to a maximum
level of 2GW (including Oman, Saudi Arabia, United Arab Emirates,
Qatar, Kuwait and Iraq).
The Agreement brings together CPH2's innovative MFE technology,
which uses cryogenics to separate oxygen from hydrogen, and
Kenera's international client base and industry-leading
manufacturing capabilities.
The manufacturing arrangements set out in the Agreement will
allow an acceleration of the roll out of the Company's technology
as the market for hydrogen grows rapidly.
The licensing arrangements, which will be effective for a period
of ten years following the completion of the manufacture of an
initial 30 MFE units, are a validation of the Company's
intellectual property strategy which allows CPH2 to offer
proprietary technology to manufacturing partners and resulting in a
low-cost business model designed to allow efficient market
penetration.
The conclusion of the negotiations with Kenera is the
culmination of multiple workstreams that commenced in advance of
the Company's successful IPO in February 2022. KCA Deutag chose to
invest in the Company at IPO and the collaboration between parties
since this point has positioned both parties to take advantage of
the rapidly growing hydrogen market, which is forecast to require
investment of up to EUR10 trillion globally by 2050.
The detailed terms of the Agreement provide for ongoing
collaboration and support between CPH2 and Kenera, including
provision of training and additional resourcing where required, as
well as cost and profit-sharing arrangements, backed up by minimum
sales targets in exclusive territories.
Jon Duffy, CEO of CPH2 said:
"We are delighted to enter into this agreement with Kenera,
whose parent company, KCA Deutag, is not only an investor in CPH2,
but is also one of the leading energy sector manufacturing
businesses in the world, adding valuable and immediate
manufacturing capacity. I am particularly pleased to have
additionally signed two sales licensing sub-agreements, which are a
capital efficient production method for CPH2, and should will
enable a much faster scale up and market penetration of our
innovative and disruptive hydrogen electrolyser technology.
Interest in this technology continues to grow and our pipeline of
opportunities is constantly developing."
Ally Hogg, Head of Commercial for Kenera, commented:
"This collaboration follows our investment into this exciting
and ambitious high growth hydrogen business. The relationship with
CPH2 adds to our clean energy portfolio and we look forward to
actively collaborating with their team as we expand our business in
the energy transition space and create value for our stakeholders
by delivering our innovative technological solutions, manufacturing
and after-sales expertise."
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
Notes to editors
About 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.
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.
About Kenera
Kenera is a business unit within leading drilling, engineering
and technology company KCA Deutag. It expands the group's offering
in hydrocarbon and energy transition markets and consolidates the
skills, competencies and experience of the existing KCA Deutag
group with those of Bentec - its land rig and oilfield equipment
manufacturer, and RDS - its UK-based engineering and design
specialist. Kenera has three dedicated segments covering innovative
services, technology & engineering and manufacturing.
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