Collaboration with University of Bristol

7 December 2023

Hydrogen Future Industries plc

("HFI" or the "Company")

Collaboration with University of Bristol

Hydrogen Future Industries plc (AQSE: HFI), a developer of a proprietary green hydrogen production system featuring an advanced aerodynamic wind turbine and a high-performance electrolyser, is pleased to announce it has signed a memorandum of understanding (the "Agreement") with the University of Bristol ("UoB") to collaborate to advance respective technologies, secure funding for joint research and development and accelerate commercial opportunities.

UoB is a leading research university with several active research and development projects related to hydrogen. In particular, UoB has identified HFI's technology as having synergies with its Hydrogen Depleted Uranium Storage ("HyDUS") project, a collaborative project involving EDF UK (lead partner), UoB, Urenco and the UK Atomic Energy Authority (UKAEA). HyDUS's grid-scale storage is designed to meet three key objectives:

• to help balance fluctuations in the supply of energy from renewables such as wind and solar as well as provide nuclear powerplant sites with a load following capability (in all cases, large-scale hydrogen storage is vital to ensure power from renewables and nuclear is dependable and available on demand);
• to help decarbonise the national grid; and
• to provide high purity hydrogen for transport applications and energy intensive industries seeking to decarbonise.

UoB has also identified several pilot or demonstrator sites suitable for locating HFI's green hydrogen production system including potential use of university sites outside the city of Bristol.

Tim Blake, CEO, HFI Energy Systems, commented:

"We are excited to be working with the University of Bristol to accelerate the development of HFI's system, especially the Anion Exchange Membrane Water Electrolyser. The University of Bristol has a world-class team with world-class facilities and together we can accelerate the development of the cutting-edge technology. Our electrolyser has demonstrated exceptional efficiency in testing to date and the technology has been identified by UoB as a perfect fit for their HyDUS project. Having access to sites in the UK to develop and demonstrate the complete green hydrogen system, from generation to utilisation, is very important to both parties."

Tom Scott, Professor, University of Bristol, commented:

"I have known Tim Blake for some time and have been waiting for the opportunity to collaborate on hydrogen projects with him and his team. The HFI green hydrogen production system could fundamentally change the energy landscape as we know it. It also has clear and immediate synergies with our HyDUS project and other technologies we are actively developing. By collaborating with HFI, we hope to share human, intellectual and equipment resources whilst also fast-tracking grant and other joint funding opportunities."

Enquiries:

Hydrogen Future Industries plc
Daniel Maling, Executive Director	[phone]
Vigo Consulting (Investor Relations)
Ben Simons	[phone]
Peter Jacob
Cairn Financial Advisers LLP (AQSE Corporate Adviser)
Ludovico Lazzaretti Liam Murray	[phone]
Peterhouse Capital Limited (Broker)
Duncan Vasey	[phone]

Inside Information

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company accept responsibility for the contents of this announcement.

About Hydrogen Future Industries

Hydrogen Future Industries was established to invest in projects and companies focused on the Hydrogen Economy. We are developing a proprietary wind-based hydrogen production system, featuring an advanced aerodynamic wind turbine and a high-performance electrolyser. Through this technology, we aim to significantly reduce the cost of hydrogen production from renewable sources and provide on-demand energy storage in the form of hydrogen at a fraction of the cost of lithium-ion battery storage. Click here for more information about Hydrogen Future Industries.  

Visit our website: www.hydrogenfutureindustries.com

Follow us on social media:

LinkedIn: @Hydrogen Future Industries

Twitter: @HydrogenFI

Caution Regarding Forward Looking Statements

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not a guarantee of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

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