Last checked at 2 Nov 2023 07:00
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.
2 November 2023
Clean Power Hydrogen plc
("CPH2", the "Company" or the "Group)
Company Update
Clean Power Hydrogen plc (AIM: CPH2), the UK-based green hydrogen technology and manufacturing group that has developed the IP-protected Membrane-Free Electrolyser ("MFE"), is pleased to announce that following an extensive testing and commissioning process it has run the entire MFE110 system, successfully producing separated hydrogen and oxygen gases at its expected capacity, witnessed by a third party customer. The creation of separated gases marks a key milestone for the Company, proving the differentiated technology works at scale. The MFE110 contains four 125KW stacks, the same sized stacks which will be used for the MFE220.
At the same time, following data accumulated during the testing, the Company announces that it has subsequently paused the MFE110 unit Factory Acceptance Test ("FAT") whilst the team re-evaluates the MFE's power down procedures making any modifications necessary to support improved plant shut down. Final tests will commence following the re-evaluation and control rectification, and upon successful completion, the MFE110 will be shipped to Northern Ireland Water's site where it will undergo site validation, integration and commissioning before beginning commercial production of hydrogen and medical grade oxygen.
The Company expects the pipeline and order book to increase significantly following the successful commercialisation and the successful milestone marks an important step in the further scaling up of CPH2's differentiated technology as it looks to roll out the MFE220.
Jon Duffy, CEO of Clean Power Hydrogen commented:
"Today marks a first very important step for CPH2 - we are now demonstrably capable of successfully producing separated hydrogen and oxygen gases at scale utilising the Company's differentiated technology. We are constantly evolving and improving our technology and look forward to finalising the Factory Acceptance Testing of the MFE110 in collaboration with our customer, which will mark the commercialisation of our ground-breaking hydrogen technology. We look forward to updating shareholders in due course following the completion of the FAT testing and delivery to Northern Ireland Water."
Alistair Jinks of NI Water commented:
"NI Water continues to believe in the potential of CPH2's innovative electrolyser technology and recognise that significant steps have been taken in proving its capability by running the entire system and producing separated hydrogen and oxygen. The opportunity to harness oxygen in treating waste water to optimise existing assets remains a valuable prize not only for NI Water but for the global water industry which must address its harmful climate emissions. At the same time, it remains a priority to demonstrate the potential to produce affordable green hydrogen to evidence its relevance in the next phase of extending renewable electricity generation on the island of Ireland as well as its role in decarbonising transport where battery technology is not a solution. It is NI Water's assessment that whilst challenges remain in proving the logic controls and shutdown procedures, CPH2 will address these in time to ensure delivery to Belfast in early 2024."
ENDS
For more information, please contact:
Clean Power Hydrogen plc | via Camarco |
Jon Duffy, Chief Executive Officer | |
James Hobson, Chief Financial Officer | |
Cavendish Securities plc - NOMAD & Broker | |
Neil McDonald | +44 (0)131 220 9771 |
Peter Lynch | +44 (0)131 220 9772 |
Adam Rae | +44 (0)131 220 9778 |
Camarco PR | + 44(0) 20 3757 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.