Clean Power Hydrogen Update on Licence Agreement with GHFG Limited (7098B)
2023年6月6日 - 3:00PM
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TIDMCPH2
RNS Number : 7098B
Clean Power Hydrogen
06 June 2023
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6 June 2023
Clean Power Hydrogen plc
("CPH2", the "Company" or the "Group")
Update on Licence Agreement with GHFG Limited
CPH2, the UK-based green hydrogen technology and manufacturing
company that has developed the IP-protected Membrane-Free
Electrolyser ("MFE"), announces an update regarding the Licence
Agreement with GHFG Limited ("GHFG"), the terms of which were
announced on 19 July 2022 (the "Licence Agreement"). GHFG is a
joint venture between international renewable independent power
producer, Alternus Energy Group Plc ("Alternus"), and Eric Whelan,
CEO of Irish based developer, Soleirtricity.
GHFG has undertaken actions which, based on legal advice
received by CPH2, the Board believes constitutes a repudiatory
breach of the Licence Agreement on the part of GHFG. In response to
GHFG's actions, the Directors consider it in the best interests of
the Company and its shareholders to accept the repudiatory breach
by GHFG, thereby terminating the Licence Agreement with immediate
effect.
The Company has notified GHFG that its repudiatory breach has
been accepted and that CPH2 intends to claim damages from GHFG and
retain all sums paid by it to CPH2 pursuant to the Licence
Agreement to date.
Jon Duffy, Chief Executive Officer of CPH2, commented:
"We are disappointed by the recent actions of GHFG. We pride
ourselves on having an open dialogue with our partners and have
enjoyed a very constructive relationship with them up until this
point.
We continue to focus on the commercial delivery of the MFE220
1MW electrolyser and are currently undergoing testing of the
MFE110. Following successful commercialisation, we expect to see
increasing customer demand for our MFE technology."
For more information, please contact:
Clean Power Hydrogen plc via Camarco
Jon Duffy, Chief Executive Officer
James Hobson, Chief Financial Officer
Cenkos Securities plc - NOMAD & Broker
+44 (0)131 220
Neil McDonald 9771
+44 (0)131 220
Peter Lynch 9772
+44 (0)131 220
Adam Rae 9778
+ 44(0) 20 3 757
Camarco PR 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.
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