CPH2 announces new licence and purchase order
CPH2 is pleased to announce that it has entered into a Licence Agreement with Lisheen H2 Energy Park Limited, which trades under the name Hidrigin. In addition to signing the License Agreement, the parties have entered a Sales Contract for the delivery of a 1MW MFE220 electrolyser unit by CPH2.
The Licence Agreement between Hidrigin and CPH2 covers the construction of 2GW of MFE electrolysers in Ireland over a period of up to 20 years. Under the terms of the Licence Agreement, the manufactured electrolysers will be exclusively used by Hidrigin and cannot be sold to third parties. CPH2 will receive a fee in staged payments for the licence upon meeting certain milestones which the Company expects will be achieved within the next two years, as well as revenues from the sale of components and a technology fee per unit manufactured.
The Company expects that Hidrigin will commence manufacturing its first MFE220 unit under the Licence Agreement in 2025.
Hidrigin will contract the manufacturing of MFE220 units to global engineering contractor Jones Engineering, at its manufacturing facility in Co. Carlow, Ireland. Jones Engineering is a global leader in mechanical, electrical, and fire protection services, with over 130 years’ of experience. Specialising in sectors such as life sciences, data centres, healthcare, and renewable energy. Jones Engineering offers turnkey solutions, including modular manufacturing and offsite fabrication. Known for their innovation and commitment to sustainability, Jones Engineering supports complex projects worldwide, from design through to ongoing maintenance, ensuring efficiency and quality across diverse industries.
Jon Duffy, CEO of Clean Power Hydrogen, commented:
“Our licence agreement and sales contract with Hidrigin showcases the increasing customer demand for, and belief in, our MFE technology, underpinned by the recent successful FAT. Our goal remains to produce electrolyser capacity of approximately 1GW at CPH2 facilities and 3GW under licence, and today’s announcement gives a good indication of how we will look to achieve that. Licensing agreements are a key part of our business model, helping to scale the business globally and accelerate market penetration of our ground-breaking technology by leveraging the resources of competent partners.”
As well as contracting Jones Engineering for the manufacture of MFE220 units, Hidrigin has appointed Lagan MEICA as its technical advisor to advise on the construction commissioning and installation of MFE units. At a future date, Hidrigin plans to build a manufacturing facility in Lisheen BioEnergy Campus as it scales up manufacturing of MFE units.
Hidrigin plans to utilise the MFE220 across its own Solar PV and Wind Farms across the world and has agreed terms to sell its Green Hydrogen which will be produced in Lisheen as part of its Pilot Project to several commercial off takers. Hidrigin has €100m funding terms in place to build out its renewable energy development together with its Green Hydrogen Pilot Project commencing in 2025. Ultimately, Hidrigin has a goal of developing €500m of its own Renewable Energy projects together with its Manufactured MFE220 Electrolysers across Europe by 2030.
Eric Whelan, CEO of Hidrigin commented:
“CPH2’s proven technology is a brilliant low-cost solution to the production of green hydrogen. We are excited to be able to use this technology for our projects here in Ireland and across the world, where the opportunity for green hydrogen production together with renewable energy generation is unparalleled. We look forward to working with CPH2 and with our expert partners at Jones Engineering to build and deploy our electrolysers. We are also delighted to be engaging Lagan MEICA to advise and install our electrolysers, which in turn supports Ireland and Europe’s renewable green hydrogen production goals.”
