A technical cooperation agreement has been signed between Clean Power Hydrogen Plc (CPH2), a UK-based manufacturer of green hydrogen technology, and Bentec GmbH, an operational subsidiary of Kenera Energy Solutions (hereafter referred to as “Kenera”).
Within the renowned drilling, engineering, and technology company KCA Deutag Group, there is a recently established business unit called Kenera. A key investor in CPH2, Kenera was created as the foundation from which the KCA Deutag Group would expand its portfolio within the hydrocarbon and energy transition industries.
• In accordance with the terms of the Contract, Kenera will produce up to 30 MFE220 units for CPH2 at its German manufacturing facility.
In addition, CPH2 has given Kenera a non-exclusive right to market and produce CPH2 goods in Germany, Scotland, Azerbaijan, Denmark, and Norway for no more than 150 MFE units annually.
• In addition, CPH2 has given Kenera an exclusive license to market and produce CPH2 goods in the Middle East, with a 2GW maximum capacity (including Oman, Saudi Arabia, United Arab Emirates, Qatar, Kuwait, and Iraq).
The Agreement unites Kenera’s global clientele and sector-leading production capabilities with CPH2’s cutting-edge MFE technology, which employs cryogenics to extract oxygen from hydrogen.
Due to the rapidly expanding market for hydrogen, the production arrangements outlined in the Agreement will enable the Company to accelerate the rollout of its technology.
The licensing agreements, which are a confirmation of the Company’s intellectual property strategy that enables CPH2 to offer proprietary technology to manufacturing partners and results in a low-cost business model intended to allow efficient market penetration, will be in effect for a period of ten years after the completion of the manufacture of an initial 30 MFE units.
The discussion with Kenera has come to an end, marking the end of several workstreams that began before the company’s successful IPO in February 2022. KCA Deutag made the decision to participate in the company at the IPO, and the parties’ ongoing cooperation has put them in a good position to benefit from the rapidly expanding hydrogen sector, which is expected to require up to €10 trillion in investment globally by 2050.
According to the specifics of the Agreement, CPH2 and Kenera will continue to work together and offer assistance, including training and extra resources as needed, as well as cost and profit-sharing agreements supported by minimum sales objectives in exclusive regions.
The chief executive officer of CPH2, Jon Duffy, stated: “We are excited to enter into this agreement with Kenera, whose parent company, KCA Deutag, is not only a shareholder in CPH2, but is also one of the top manufacturers in the energy sector globally, adding valuable and immediate manufacturing capacity. I’m really happy to have also secured two sales licensing sub-agreements, which are a capital-efficient way for CPH2 to produce CPH2 and could help our ground-breaking hydrogen electrolyser technology scale up and enter the market much more quickly. Our pipeline of prospects is always growing, and interest in this technology is continuing to increase.
“This partnership follows our investment into this exciting and ambitious high-growth hydrogen company,” said Ally Hogg, Head of Commercial at Kenera. The partnership with CPH2 expands our portfolio of clean energy projects, and we look forward to working actively with their team as we grow our company’s operations in the energy transition sector and deliver our cutting-edge technological solutions, manufacturing know-how, and after-sales expertise to our stakeholders.