Clean Power Hydrogen PLC - Doncaster, England-based green hydrogen technology and manufacturing company - Terminates licence deal with GHFG Ltd with immediate effect. Says GHFG has undertaken actions that constitute a repudiatory breach of the licence deal on the part of GHFG. CPH2 says it has informed GHFG that its breach has been accepted and that CPH2 intends to claim damages from GHFG and ‘retain all sums paid by it to CPH2 pursuant to the licence agreement to date’.
GHFG is a joint venture between international renewable independent power producer, Alternus Energy Group PLC, and Eric Whelan, chief executive officer of Irish based developer, Soleirtricity. In July last year, the firm signed its first licence agreement with GHFG for the construction of two gigawatts of membrane-free electrolysers over a period of up to 20 years.
Chief Executive Officer Jon Duffy says: ‘We are disappointed by the recent actions of GHFG. We pride ourselves on having an open dialogue with our partners and have enjoyed a very constructive relationship with them up until this point.’
Current stock price: 21.70 pence each, down 11% on Tuesday morning in London.
12-month change: down 51%
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