Clean Power Hydrogen Renewed Contract Terms for MFE220 Sales Contracts

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	[phone]
Peter Lynch	[phone]
Adam Rae	[phone]
Camarco PR	+ 44(0) 20 3757 4980
Billy Clegg
Owen Roberts
Lily Pettifar

 

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.

 

 

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END

 

 

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