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:
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Clean Power Hydrogen plc
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via Camarco
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Jon Duffy, Chief Executive
Officer
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James Hobson, Chief Financial
Officer
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Cavendish Capital Markets Limited - NOMAD &
Broker
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Neil McDonald
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+44 (0)131 220 9771
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Peter Lynch
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+44 (0)131 220 9772
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Adam Rae
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+44 (0)131 220 9778
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Camarco PR
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+ 44(0) 20 3757 4980
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Billy Clegg
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Owen Roberts
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Lily Pettifar
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To find out more, please
visit: 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.