Clean Power Hydrogen shares jump on Siemens technology agreement
Clean Power Hydrogen PLC on Tuesday said it had entered an accord with Siemens PLC, part of Munich, Germany-based technology conglomerate Siemens AG.
Clean Power Hydrogen is a Doncaster, Yorkshire-based green hydrogen technology and manufacturing company. The agreement is for Siemens to help increase production of Clean Power Hydrogen’s membrane-free electrolyser technology.
This technology produces ‘high purity hydrogen and above medical-grade purity oxygen’, according to the UK company.
The agreement with Siemens is non-binding at present, though the two firms intend to move towards a binding agreement.
Clean Power Hydrogen Chief Executive Jon Duffy commented: ‘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 [Clean Power Hydrogen] production.’
Clean Power Hydrogen shares jumped 13% to 6.23 pence on Tuesday afternoon in London. Siemens traded 2.1% lower at €206.85 in Frankfurt, as the US and Israeli war on Iran continued to dominate stock markets.
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