Memorandum of Understanding with Siemens
Clean Power Hydrogen plc has entered into a non-binding Memorandum of Understanding with Siemens plc, aiming to establish a legally binding agreement for Siemens to assist CPH2 in scaling up its Membrane-Free Electrolyser production and maintaining its technology leadership. This collaboration will encompass enhanced process and automation, customer introductions, marketing, technical support, training, joint product and process development, and go-to-market strategies, all intended to upscale CPH2's production capabilities. Further updates on the progress towards a definitive agreement are expected.
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CPH2 (AIM:CPH2), which has developed market disrupting and IP-protected Membrane-Free Electrolyser ("MFE") technology for the production of commercial high purity hydrogen and above medical-grade purity oxygen, announces that it has entered into a non-binding Memorandum of Understanding ("MOU") with Siemens plc. It is the intention of Siemens and CPH2 to conclude a legally binding agreement in relation to Siemens assisting CPH2 across a range of activities focussed on successfully scaling up CPH2's MFE production and maintaining its technology leadership.
Further updates in respect of the progress towards a legally binding agreement between the parties will follow in due course.
Commenting, Chief Executive Officer of CPH2, Jon Duffy, said: "Our discussions with Siemens cover a range of activities from enhanced process and automation to customer introduction, marketing, 24/7 technical support, training, joint product and process development and Go-to-Market strategies, all with the objective to upscale CPH2 production. We look forward to updating the Market further on this in due course."
| Clean Power Hydrogen Jon Duffy, Chief Executive Officer James Hobson, Chief Financial Officer | via Square1 Consulting |
| Cavendish Capital Markets Limited - NOMAD & Joint Broker Neil McDonald Peter Lynch | +44 131 220 9771 +44 131 220 9772 |
| Turner Pope Investments (TPI) Limited - Joint Broker Andy Thacker/Guy McDougall | +44 203 657 0050 |
| Square1 Consulting Limited David Bick | +44 7831 381201 |
Background on CPH2
CPH2 is the holding company of Clean Power Hydrogen Group Limited which has a decade of dedicated research and product development experience that has delivered global patents in breakthrough hydrogen and oxygen production technology. The Group's strategic objective is to deliver the lowest lifetime Levelised Cost of Hydrogen ("LCOH") in the market in relation to the production of hydrogen at this scale. CPH2 is listed on the AIM market and trades under the ticker LSE: CPH2.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.