Clean Power Hydrogen's Sales Surge with New Contract Announcement
Key Ideas
- Clean Power Hydrogen PLC signed a new sales contract to sell an electrolyser to Hidrigin, boosting shares by 21%.
- The agreement allows Hidrigin to manufacture up to 2 gigawatts of MFE220 units in Ireland to combine with their solar and wind farms globally.
- A settlement deal was reached with GHFG Ltd after a terminated license deal, with both parties agreeing to an amicable resolution.
- Clean Power Hydrogen celebrated a milestone with the successful factory acceptance test of its MFE110 electrolyser, positioning the company strongly for future growth.
Clean Power Hydrogen PLC, a green hydrogen technology and manufacturing company based in Doncaster, Yorkshire, saw a significant rise in shares following the announcement of a new sales contract. The company will be selling an electrolyser to Hidrigin, also known as Lisheen H2 Energy Park Ltd, under the agreement. This deal allows Hidrigin to manufacture MFE220 units in Ireland for integration with their renewable energy projects worldwide.
Additionally, Clean Power Hydrogen resolved a prior dispute with GHFG Ltd through a settlement agreement, putting an end to legal actions without any admission of fault or payment of damages by either party. The successful completion of the factory acceptance test for the MFE110 electrolyser was highlighted as a major achievement for Clean Power Hydrogen, demonstrating the company's commitment to innovation and quality.
Chief Executive Officer Jon Duffy expressed pride in the company's progress, emphasizing the significance of the technological milestone and the strategic positioning for future endeavors. This positive development reflects Clean Power Hydrogen's dedication to advancing sustainable solutions in the green energy sector.