Investment accounts
Adult accounts
Child accounts
Choosing Fidelity
Choosing Fidelity
Why invest with us Current offers Fees and charges Open an account Transfer investments
Financial advice & support
Fidelity’s Services
Fidelity’s Services
Financial advice Retirement Wealth Management Investor Centre (London) Bereavement
Guidance and tools
Guidance and tools
Choosing investments Choosing accounts ISA calculator Retirement calculators
Share dealing
Choose your shares
Tools and information
Tools and information
Share prices and markets Chart and compare shares Stock market news Shareholder perks
Pensions & retirement
Pensions, tax & tools
Saving for retirement
Approaching / In retirement
Approaching / In retirement
Speak to a specialist Creating a retirement plan Taking tax-free cash Pension drawdown Annuities Investing in retirement Investment Pathways
Clean Power Hydrogen reports solid full-year progress
(Sharecast News) - UK-based green hydrogen technology company Clean Power Hydrogen (CPH2) reported solid progress towards the commercial rollout of its membrane-free electrolyser (MFE) technology in its final results on Friday, driven by a revamped engineering team. The AIM-traded firm successfully operated the entire MFE110 system at scale during the year, along with functional testing of the control programme enabling automatic operation and shutdown.
Improvements were also made to key components, while rigorous testing informed valuable enhancements for the MFE220 design.
Financially, CPH2 reported a year-end net asset position of £21m, with £8.5m in cash or current asset investments.
The company invested £2.8m in research and design during the 12-month period.
CPH2 said it had also entered into a 10-year licensing agreement with Fabrum Solutions, granting non-exclusive rights to manufacture and sell membrane-free electrolysers in New Zealand and Australia.
The company said it was also engaged in advanced discussions with multiple potential partners for new licences and orders.
In terms of certifications, CPH2 was awarded three ISO certifications, including ISO 45001 for occupational health and safety, ISO 14001 for environmental management systems, and ISO 9001 for quality management systems.
Looking ahead, the company said it expected to complete factory acceptance testing for the MFE110 within the next three months.
Additionally, the completion and delivery of the MFE220, a 1MW system for Northern Ireland Water, was expected within the next 12 months.
"2023 has been a year of further progress for CPH2, both operationally and technically," said chief executive officer Jon Duffy.
"Our focus has centred on developing our unique technology for commercialisation, ensuring safety and scalability through rigorous testing of the MFE110.
"The successful running of the entire MFE110 system, producing separated hydrogen and oxygen gases, stands as a key milestone for CPH2, proving our differentiated technology works at scale."
At 0803 BST, shares in Clean Power Hydrogen were up 2.58% at 15.9p.
Reporting by Josh White for Sharecast.com.
Share this article
Related Sharecast Articles
Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.
Award-winning online share dealing
Search, compare and select from thousands of shares.
Expert insights into investing your money
Our team of experts explore the world of share dealing.
Policies and important information
Accessibility | Conflicts of interest statement | Consumer Duty Target Market | Consumer Duty Value Assessment Statement | Cookie policy | Diversity and Inclusion | Doing Business with Fidelity | Fidelity gender pay report | Investing in Fidelity funds | Legal information | Modern slavery | Mutual respect policy | Privacy statement | Remuneration policy | Security | Statutory and Regulatory disclosures | Whistleblowing policy
Please remember that past performance is not necessarily a guide to future performance, the performance of investments is not guaranteed, and the value of your investments can go down as well as up, so you may get back less than you invest. When investments have particular tax features, these will depend on your personal circumstances and tax rules may change in the future. This website does not contain any personal recommendations for a particular course of action, service or product. You should regularly review your investment objectives and choices and, if you are unsure whether an investment is suitable for you, you should contact an authorised financial adviser. Before opening an account, please read the ‘Doing Business with Fidelity’ document which incorporates our client terms. Prior to investing into a fund, please read the relevant key information document which contains important information about the fund.
This website is issued by Financial Administration Services Limited, which is authorised and regulated by the Financial Conduct Authority (FCA) (FCA Register number 122169) and registered in England and Wales under company number 1629709 whose registered address is Beech Gate, Millfield Lane, Lower Kingswood, Tadworth, Surrey, KT20 6RP.
