H-Power plc
HPOW · AIM · Energy · mcap £104m · 8.2p 2 open situations →
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Project milestones
Hy5 portable cracker development
Phase 1 complete; final phase begins September 2026
The Komatsu JDA of c.US$2m, announced in February 2026, is a feasibility-stage contract to integrate H-Power's ammonia cracker with a Komatsu diesel engine. Phase 1 is now successfully complete and the final build-and-demonstration phase is agreed, running September 2026 to December 2027. Any production scale-up is not yet contracted.
- Contract value
- cUS$2 million, as previously announced
- Phase 1
- Successfully completed
- Next milestone
- Phase 2 build out and demonstration, September 2026 to December 2027
- Aim
- Assess feasibility of a new ammonia fuelled engine platform capable of scaled production
- 10 Aug 2026 Phase 1 complete; final phase begins September 2026
- 10 Jun 2026 On track; launch by end of calendar 2026
- 10 Jun 2026 Positive engagement; no permitting update
- 25 Feb 2026 Targeting production by end of 2026, permitting pending
Turnaround plan with targets
Restructuring and commercial reset
Restructuring done; c.£1.5m annualised savings expected
Next: Convert pipeline to contractual orders during 2026
- 25 Feb 2026 Restructuring done; c.£1.5m annualised savings expected
- 6 Nov 2025 Restructuring done; new commercial team
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Company filings. Not investment advice.