1MW MFE220 Factory Acceptance Test update
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The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 which is part of UK law by virtue of the European Union (withdrawal) Act 2018. Upon the publication of this announcement, this inside information is now considered to be in the public domain.
29 May 2026
Clean Power Hydrogen plc
("CPH2" or the "Company")
1MW MFE220 Factory Acceptance Test update
Clean Power Hydrogen plc (AIM:CPH2), the developer of market disrupting and IP-protected Membrane-Free Electrolyser ("MFE") technology for the co-production of high purity hydrogen and above medical-grade purity oxygen, provides an update on the third and final Factory Acceptance Test ("FAT") of its MFE220 1MW unit.
In the final stages of testing at the Company's dedicated and secure test site facility in Rossington, near Doncaster, the unit experienced an unexpected error, causing it to commence a standard shutdown procedure. During that shutdown procedure, the unit experienced an incident which has caused significant damage to the equipment. In line with the Company's health, safety and environmental protection processes, all operations have been suspended and a thorough investigation is underway into the causes of the original error and the subsequent failure.
This unfortunate incident will materially delay successful completion of the FAT for the MFE220 unit which was previously expected during May 2026 and the Company will provide further updates in this regard in due course.
The Company also confirms it has been engaged in discussions with certain existing shareholders and prospective new investors regarding a potential equity capital raise to support the next phase of technical and commercial development following completion of the FAT. In light of the incident during testing, these discussions have been paused pending greater technical clarity. As a result, the Company has a constrained working capital position and the Board is actively evaluating potential funding and strategic options to resolve the immediate liquidity requirement.
The Company is reviewing its insurance position in relation to the incident and assessing the potential implications for its commercial arrangements with customers. These discussions and investigations are ongoing and, while the full impact on timing and contractual outcomes remains under review, the Board is focused on establishing a clear path forward and will provide further updates as appropriate.
Due to the ongoing uncertainty regarding the Company's financial position, its current limited working capital and the circumstances noted above, the Company has requested that its shares are suspended from trading on AIM with effect from 7.30 a.m. today.
Commenting, Chief Executive Officer of CPH2, Jon Duffy, said: "This is a disappointing outcome as we approached the final FAT Level 3 testing. However, we will immediately start work towards resolving this technical issue so that we are able to minimise any commercial impact on our business."
ENDS
Enquiries:
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Clean Power Hydrogen Jon Duffy, Chief Executive Officer James Hobson, Chief Financial Officer
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+44 1302 328075
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Cavendish Capital Markets Limited - NOMAD & Joint Broker Neil McDonald Peter Lynch Hanna Leijonmarck
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+44 131 220 9771 +44 131 220 9772 +44 20 3772 6029 |
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Turner Pope Investments (TPI) Limited - Joint Broker Andy Thacker Guy McDougall
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+44 203 657 0050 |
Background on CPH2
CPH2 is the holding company of Clean Power Hydrogen Group Limited which has a decade of dedicated research and product development experience that has delivered global patents in breakthrough hydrogen and oxygen production technology. The Group's strategic objective is to deliver the lowest lifetime Levelised Cost of Hydrogen ("LCoH") in the market in relation to the production of hydrogen for the growing decentralised markets, which include wastewater treatment, curtailed wind power capture, data centre backup, medical and life sciences, and heavy-duty mobility applications. CPH2 is listed on the AIM market and trades under the ticker AIM:CPH2.
For more information: https://www.cph2.com
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