Fabrum Solutions Ltd receives order from Obayashi

RNS Number : 1879U

Clean Power Hydrogen

27 March 2023

 

27 March 2023

Clean Power Hydrogen Plc

("CPH2", the "Company" or the "Group")

Fabrum Solutions Ltd receives MF220 order from Obayashi

CPH2, the UK-based green hydrogen technology and manufacturing company that has developed the IP-protected Membrane-Free Electrolyser ("MFE"), is pleased to announce that New Zealand based Fabrum Solutions Ltd ("Fabrum"), with whom CPH2 executed a manufacturing agreement in January 2023, has received an order from Obayashi Corporation ("Obayashi") for the delivery of a MFE220 unit. Obayashi is a Japanese construction company listed on the Tokyo Stock Exchange and part of the Nikkei 225 index.

The unit ordered is a 1MW MFE220 with delivery from Fabrum expected in approximately 13 months, with the destination of the unit expected to be Auckland, New Zealand. Obayashi has several interests in green hydrogen production projects in New Zealand including Halcyon Power Ltd, the 50/50 joint venture between Tuaropaki Trust and Obayashi Corporation, where Halcyon aims to use electricity generated by the Tuaropaki Power Station to feed the rollout of fit-for-purpose, safe, innovative, durable and affordable fast hydrogen refuelling stations.

The order represents Fabrum's first customer under CPH2's manufacturing agreement for which CPH2 will receive a technology fee as well as revenue from the sale of key components including CPH2 stacks.

Fabrum has previously ordered two MFE220 units from CPH2, with the first container having already been shipped to Fabrum's facility in New Zealand, as announced on 31 January 2023, where it will be fitted out with the remaining components and commissioned for use .

CPH2 is committed to its strategic target of 4GW MFE annual production by 2030; of this 1GW will be in-house manufacturing and assembly and 3GW will be via license agreements such as that agreed with Fabrum. Interest in CPH2's innovative and disruptive hydrogen electrolyser technology continues to grow and our agreement with Fabrum allows for faster scale up and market penetration in Australia and New Zealand.

Jon Duffy, Chief Executive Officer of CPH2, commented:

"I am delighted to see our manufacturing agreement signed with Fabrum earlier in the year already bearing fruit. The order from Obayashi, a significant global construction player, goes a long way to validate our technology and its practical uses in the production of green hydrogen.

The use of licence agreements by CPH2 to achieve our strategic target of 4GW MFE annual production has always been of key importance and we look forward to working with Fabrum to continue our positive progress to date."

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
Neil McDonald	[phone]
Peter Lynch	[phone]
Adam Rae	[phone]
Camarco PR	+ 44(0) 20 3 757 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 ("CleanPower") 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.

Overview of Fabrum

Fabrum is headquartered in Christchurch, New Zealand and leads the world in industrialized small to medium scale liquefaction systems and composite cryogenic vessels.

The company is actively deploying end to end liquid hydrogen solutions globally across heavy transport, mining and aviation markets. Core competencies include green hydrogen production, storage, dispensing and system integration.

Fabrum also has a strong presence in the traditional cryogenic markets of liquid nitrogen (LIN), liquid oxygen (LOX), LNG and Liquid Air (LAIR) with customers ranging from Animal husbandry, Hi-tech research institutions, Manufacturing and Defense forces.

 

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