Clean Power Hydrogen PLC Announces New Sales Contract and Settlement Deal
Key Ideas
- Clean Power Hydrogen PLC secured a new sales contract with Hidrigin to sell a 1MW MFE220 electrolyser, boosting shares by 21% in London.
- The company also reached a settlement deal with GHFG Ltd, resolving past issues without any admission of fault or claims for damages.
- The completion of the factory acceptance test for the MFE110 electrolyser was hailed as a significant milestone for the company's technology, positioning it well for future endeavors.
Clean Power Hydrogen PLC, based in Doncaster, Yorkshire, has announced a new sales contract with Hidrigin to sell a 1MW MFE220 electrolyser. This deal includes a licence agreement allowing Hidrigin to manufacture up to 2 gigawatts of MFE220 units in Ireland to integrate with their renewable energy projects. The announcement led to a 21% increase in Clean Power Hydrogen's shares. Additionally, the company has settled a dispute with GHFG Ltd, with both parties agreeing to an amicable resolution without any damages claimed or paid. Clean Power also celebrated the successful completion of the factory acceptance test for its MFE110 electrolyser, marking a significant milestone in their technological advancement. CEO Jon Duffy expressed confidence in the company's innovation, quality, and safety standards, positioning them strongly for future growth and development.