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Clean Power Hydrogen signs MoU with Irish firm Constant Energy
(Sharecast News) - Clean Power Hydrogen (CPH2) announced the signing of a memorandum of understanding with Irish energy developer Constant Energy on Monday, marking a key step in the commercial rollout of its proprietary Membrane-Free Electrolyser (MFE) technology. The AIM-traded firm said the agreement followed the successful site acceptance testing of CPH2's MFE system, and outlined plans for the supply of green hydrogen to Constant Energy's Killala Energy Hub in County Mayo, which recently received planning approval.
It said the site would integrate local wind and solar energy to produce green hydrogen using CPH2's electrolysers.
Under the terms of the MoU, both parties would now work towards a binding sale and purchase agreement, with Constant Energy expected to procure an initial five 1 MW MFE220 units for deployment between 2027 and 2028.
The agreement also opened discussions for up to 200 MW of future capacity over the next decade, supporting hydrogen use in a gas peaking plant, grid export, and refuelling for fuel cell electric vehicles.
"The signing of a memorandum of understanding between CPH2 and Constant Energy is a significant step forward in the commerciality phase of our membrane free technology, following our successful site acceptance test and demonstration of our electrolyser functioning to a high level in a commercial setting," said Clean Power Hydrogen's chief executive officer Jon Duffy.
"With confidence around both our technology and our ability to deliver operationally, this MoU provides an exciting opportunity for the company as we look to significantly increase our order book and provide the solution for efficient green hydrogen production across industry.
"We look forward to working with Constant Energy to progress our relationship and ultimately provide them with our membrane free technology solution for the Killala Energy Hub Project."
At 1552 BST, shares in Clean Power Hydrogen were up 0.87% at 6.15p.
Reporting by Josh White for Sharecast.com.
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