Memorandum of Understanding with Koch Modular
Clean Power Hydrogen plc has entered into a non-binding Memorandum of Understanding with Koch Modular Process Systems LLC, a subsidiary of Koch Industries, for the potential manufacture and licensing of up to 100MW of CPH2's Membrane-Free Electrolyser technology in North America, covering Mexico, the USA, and Canada. This 24-month MoU outlines a framework for evaluating technical, commercial, and operational feasibility, with the intention to progress towards a legally binding agreement. The partnership aims to leverage Koch Modular's expertise in design and manufacturing for the North American market, potentially impacting CPH2's market penetration and revenue streams.
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Memorandum of Understanding with Koch Modular Process Systems LLC for manufacture and licensing in North America.
CPH2 (AIM:CPH2), the developer of the 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 Koch Modular Process Systems LLC ("Koch Modular").
Based in Paramus, New Jersey, and Houston, Texas, Koch Modular specialises in the design and manufacturing of modular mass transfer systems for the chemical process industry and is a subsidiary of Koch Industries LLC, one of the largest privately held corporations in the USA.
The MoU, which has an initial term of 24 months, provides a framework for the parties to evaluate technical, commercial and operational feasibility, including supply chain and localisation requirements. Pursuant to these workstreams is the intention of Koch Modular and CPH2 to progress discussions towards a legally binding agreement in relation to manufacturing and/or licensing of up to 100MW of CPH2's proprietary modular hydrogen technology for sales and marketing into Mexico, the USA and Canada.
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 Koch Modular cover joint supply chain, feasibility and technical assessments; system concepts and manufacturing proposals; commercial structures; and a manufacturing and/or licensing agreement for up to 100 MW of membrane-free electrolysis capacity. With capabilities in process, product and project delivery, we believe Koch Modular is a perfect partner to licence CPH2's technology across North America. We look forward to updating the market further on this in due course."
Commenting, Vice President of Koch Modular, Brian Loftus, said: "We are pleased to begin discussions with CPH2. From our initial engagement, we recognise the unique proposition of CPH2's patented MFE technology and look forward to formalising our relationship as we look to leverage our expertise in design and manufacture for the North American market"
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