Clean Power Hydrogen Investment in ATOME Energy plc (4416J)
13 December 2022 - 4:14AM
UK Regulatory
TIDMCPH2
RNS Number : 4416J
Clean Power Hydrogen
12 December 2022
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12 December 2022
Clean Power Hydrogen Plc
("CPH2", the "Company" or the "Group")
Investment in ATOME Energy plc to accelerate roll out of MFE220
and MFE440 electrolysers across South America
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 the Company has
subscribed for 1,412,429 new Ordinary Shares in ATOME Energy plc
("ATOME") at a price of 106.2 pence per share for a total
investment of GBP1.5m as part of ATOME's placing announced today.
The subscription will be settled out of the Company's existing cash
resources.
In March 2022, CPH2 and ATOME entered into a purchase order for
the sale of a 1MW MFE220 electrolyser to be deployed in ATOME's
Paraguay mobility project. The two companies also entered into a
non-binding collaboration agreement in respect of potential future
orders of electrolyser units for ATOME's international hydrogen and
ammonia projects, and to investigate and discuss a potential joint
venture for the future production of electrolysers in-country to
serve the Latin American market using CPH2's technology and
know-how.
Today's investment in ATOME accelerates both ATOME's and CPH2's
roll out of green hydrogen electrolysers across South America and
is a demonstration of CPH2's commitment to ATOME's Mobility
Division, which is expected to be the first commercial production
of hydrogen for transport in Paraguay when it commences next
year.
ATOME, a fellow Yorkshire headquartered company, which listed on
the AIM market of the London Stock Exchange in 2021, is an
international company focused on green hydrogen and ammonia
production with advanced plans for up to 500MW of projects located
in Paraguay and Iceland with a signed Power Purchase Agreement with
ANDE, the Paraguayan National Power Company, for a 120MW dedicated
green ammonia facility. In the 12 months to 31 December 2021, ATOME
recorded a loss for the period of US$2.2 million.
Jon Duffy, Chief Executive Officer of CPH2, commented:
" Today's announcement marks an extension of our ongoing
collaboration with ATOME for the use of CPH2's electrolyser units
in ATOME's international hydrogen and ammonia projects. The
Company's investment in ATOME is expected to accelerate ATOME's
plans for the commercial production of hydrogen in Paraguay
employing CPH2's MFE220 electrolyser and therefore accelerate the
roll out of our electrolysers across South America."
For more information, please contact:
Clean Power Hydrogen Plc via Camarco
Jon Duffy, Chief Executive Officer
Cenkos Securities plc - NOMAD & Broker
+44 (0)131 220
Neil McDonald 9771
+44 (0)131 220
Peter Lynch 9772
+44 (0)131 220
Adam Rae 9778
+ 44(0) 20 3 757
Camarco PR 4980
Billy Clegg
Owen Roberts
Fergus Young
To find out more, please visit: https://www.cph2.com
Overview of CPH2
CPH2 is the holding company of Clean Power Hydrogen Group
Limited ("Clean Power") 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.
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