Key commercialisation turning point at clean power tech firm

Releasing its interim results today for the six months ended 30 June 2024, the Doncaster-headquartered firm says its MFE110 device, which is its first scaled membrane free electrolyser, has successfully completed the Factory Acceptance Test (FAT).

This milestone confirms the first customer acceptance and validation of CPH2’s scaled electrolyser technology.  

The business explains successfully completing the FAT has proved its thesis that membrane-free technology is a “viable and potentially highly competitive alternative to PEM and Alkaline electrolysers.”

And outlining its financials for the period, CPH2 reports cash and cash equivalents of £4m, a loss of £2.3m in the six months to June 2024 and £1.8m spent on development work.

Jon Duffy, CEO, said: “The last period, has been one of tremendous growth, learnings and achievements. The FAT completion of the MFE110 is the most significant milestone in CPH2’s journey to market and marks a turning point in the company’s strategic direction towards commercialisation.

“The Commerciality Phase will focus on building the MFE220, our 1MW system to our existing contracted customers as well as activating our licensees in preparation for their manufacturing and scale.

“We maintained a disciplined engineering approach, prioritising the safety and reliability of the technology in order to create a product that delivers a modular solution to the hydrogen production market in a cost-effective, scalable, reliable and long-lasting manner and in doing so have reached commercialisation.”

 

This article was authored by Miran Rahman for The Business Desk and published under the title 'Key commercialisation turning point at clean power tech firm' on Commercialisation turning point at Doncaster clean power tech firm CPH2 (thebusinessdesk.com). It is reproduced above in accordance with section 30(2) of the Copyright, Design and Patents Act 1988.