TIDMCPH2
RNS Number : 3251O
Clean Power Hydrogen
31 January 2023
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.
31 January 2023
Clean Power Hydrogen Plc
("CPH2", the "Company" or the "Group")
Manufacturing Agreement with Fabrum Solutions Ltd
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 it has executed a
manufacturing agreement with New Zealand based Fabrum Solutions Ltd
("Fabrum") (the "Agreement"), one of the world's leading cryogenic
systems manufacturers for gas separation and hydrogen liquefaction.
Fabrum is the result of the merger between Fabrum Solutions and
AFCryo, the Company's supplier of the cryogenic systems since
2020.
Highlights:
-- Pursuant to the terms of the Agreement, Fabrum will have the
right to manufacture MFE220 units in New Zealand on a non-exclusive
basis.
-- In addition, CPH2 has granted Fabrum a non-exclusive license
to sell CPH2 products in New Zealand and Australia whereby CPH2
will receive a technology fee per unit.
-- CPH2 can order units to be produced by Fabrum in New Zealand
and Australia for new and existing CPH2 customers, with cost and
profit-sharing arrangements for such orders included in the
Agreement.
-- First MFE220 container already shipped to Fabrum's facility in New Zealand for completion and commissioning.
The Agreement, which will be effective for a period of ten
years, will allow an acceleration of the roll out of the Company's
technology across Australia and New Zealand as the market for
hydrogen grows rapidly. The Agreement, which is CPH2's first in the
region, aligns with CPH2's objectives to license out manufacturing
of the MFE220 to accelerate the delivery of the technology to an
ever-growing market.
The Agreement strengthens the working and strategic relationship
between the two companies possessing symbotic, patented
technologies which advance Membrane Free Electrolysers. CPH2 has
already shipped the first MFE220 to Fabrum's facilities in New
Zealand where it will completed and fitted out with the remaining
components and commissioned for use.
In December 2022, it was announced that CPH2 and Fabrum had
executed a development agreement for the purposes of the technical
development of CPH2's MFE. Under the terms of this agreement,
Fabrum has been working with CPH2 and its existing industry partner
Kenera Energy Solutions ("Kenera"), to provide engineering
expertise in support of design reviews, systems documentation and
safety cases. CPH2 has also executed a deed of variation to its
existing supply agreement with Fabrum to allow it to purchase DPWG
Cryocoolers for embedding in its MFE products on an exclusive
basis.
CPH2 is committed to its strategic target of 4GW MFE annual
production by 2030; of this 1GW will be in-house manufacturing and
assembly and 3GW will be via license agreements such as that agreed
with Fabrum. Interest in CPH2's innovative and disruptive hydrogen
electrolyser technology continues to grow and our agreement with
Fabrum will allow for faster scale up and market penetration in
Australia and New Zealand.
Jon Duffy, Chief Executive Officer of CPH2, commented:
"I am delighted to extend our working relationship with Fabrum,
the world leaders in cryogenic systems and hydrogen liquefaction
through the manufacturing and licensing deal. The collaboration
between CPH2 and Fabrum will allow for CPH2's MFE technology to be
used across Australia and New Zealand, where the green hydrogen
sector is rapidly developing. We look forward to continuing working
with the team at Fabrum in the future."
Christopher Boyle, Managing Director of Fabrum, commented:
"We see the CPH2 technology as a world beating, low-cost
solution to the production of green hydrogen, which is why we are
adding to our development agreement with CPH2 with a full-scale
manufacturing agreement. We are excited to be able to offer CPH2's
world leading MFE technology across New Zealand and Australia. We
have been experiencing strong demand for hydrogen solutions across
various industries in this part of the world. Our close partnership
with CPH2 will enable delivery of such solutions at a faster
pace."
For more information, please contact:
Clean Power Hydrogen Plc via Camarco
Jon Duffy, Chief Executive Officer
James Hobson, Chief Financial 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
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 ("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.
Overview of Fabrum
Fabrum is headquartered in Christchurch, New Zealand and leads
the world in industrialized small to medium scale liquefaction
systems and composite cryogenic vessels.
The company is actively deploying end to end liquid hydrogen
solutions globally across heavy transport, mining and aviation
markets. Core competencies include green hydrogen production,
storage, dispensing and system integration.
Fabrum also has a strong presence in the traditional cryogenic
markets of liquid nitrogen (LIN), liquid oxygen (LOX), LNG and
Liquid Air (LAIR) with customers ranging from Animal husbandry,
Hi-tech research institutions, Manufacturing and Defense
forces.
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