Clean Power Hydrogen Secures New Deal with Hidrigin and Resolves Legal Dispute with GHFG
Key Ideas
- Clean Power Hydrogen signed a licence agreement with Hidrigin to produce up to 2GW of MFE220 units in Ireland for use in their renewable energy projects worldwide.
- Hidrigin will also purchase a 1MW MFE220 electrolyser from Clean Power Hydrogen, with delivery scheduled for 2025.
- The legal dispute between Clean Power Hydrogen and GHFG has been resolved amicably, with no admission of fault and no damages to be claimed or paid.
- Clean Power Hydrogen's CEO expressed satisfaction with the resolution and emphasized the company's focus on commercializing its technology and expanding manufacturing capabilities in Doncaster.
Clean Power Hydrogen, a hydrogen technology company, has recently announced significant developments in its operations. The company has entered into a licence agreement with Hidrigin, allowing the latter to manufacture up to 2GW of MFE220 units in Ireland for integration into their global solar PV and wind farms. Additionally, Hidrigin has committed to purchasing a 1MW MFE220 electrolyser from Clean Power Hydrogen, expected to be delivered in 2025. Financial details of the deal have not been disclosed. Furthermore, Clean Power Hydrogen has successfully resolved a legal dispute with GHFG without any party admitting fault. The settlement entails no claims or payments of damages, bringing an end to all legal actions between the parties. CEO Jon Duffy expressed contentment with the resolution and highlighted the company's plans for advancing its technology and production capabilities. The company's shares reacted positively to the news, with a notable increase of 19.27% by midday. These developments signify a step forward for Clean Power Hydrogen in its pursuit of promoting clean energy solutions and expanding its market presence.
Topics
Power
Renewable Energy
Clean Energy
Manufacturing
Financial Agreement
Licensing Agreement
Legal Settlement
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