CPH2 Secures Major Licence Agreement with Hidrigin for Green Hydrogen Production Expansion
Key Ideas
- CPH2 and Hidrigin have entered a significant licence agreement for the manufacture of up to 2GW of MFE220 units in Ireland, highlighting the growing demand for green hydrogen production using advanced technology.
- Hidrigin plans to build a €500m renewable energy network, starting with the outsourced manufacture of MFE220 units from Jones Engineering in 2025, aiming to develop renewable energy projects across Europe by 2030.
- The licence agreement stipulates that the electrolysers will be exclusively used by Hidrigin, with CPH2 receiving fees for the licence and technology per unit manufactured, boosting CPH2's goal to scale up electrolyser capacity.
- CPH2 also settled a lawsuit with GHFG amicably, leading to a positive market response with a 24% increase in CPH2 shares.
Clean Power Hydrogen (CPH2), a UK-based green hydrogen technology and manufacturing company, has announced a major licence agreement with Lisheen H2 Energy Park, also known as Hidrigin, in Ireland. The agreement grants Hidrigin the right to manufacture up to 2GW of MFE220 units utilizing CPH2's Membrane-Free Electrolyser (MFE) technology. Hidrigin plans to connect these units with their own solar PV and wind farms globally, beginning with the manufacturing of a 1MW MFE220 unit at Jones Engineering Manufacturing's facility in Co. Carlow, Ireland in 2025.
Hidrigin has secured €100m to build the Lisheen facility and fund a Green Hydrogen Pilot Project set to commence in 2025. The company aims to develop €500m worth of renewable energy projects alongside its MFE220s across Europe by 2030. The CEO of Hidrigin praised CPH2's technology as a low-cost solution for green hydrogen production, expressing excitement about utilizing it for their projects.
The licence agreement ensures that the manufactured electrolysers will be exclusively used by Hidrigin, with CPH2 receiving fees for the licence, technology per unit, and staged payments upon meeting specific milestones. Additionally, a sales agreement was made for Hidrigin to purchase a 1MW MFE220 electrolyser from CPH2, reinforcing CPH2's goal to scale up electrolyser capacity both at their facilities and under licensing agreements.
Furthermore, CPH2 settled a lawsuit with GHFG amicably, leading to positive market response with a 24% increase in CPH2 shares. The agreement with Hidrigin and the settlement with GHFG mark significant developments for CPH2 in the green hydrogen sector, showcasing the company's commitment to innovation and expansion in the renewable energy market.
Topics
Green Hydrogen
Renewable Energy
Technology
Manufacturing
Renewable Projects
Investments
Licensing
Renewable Energy Generation
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