Business
Signing of Term Sheet with Hidrigin
Clean Power Hydrogen plc has entered into a binding term sheet with Hidrigin, a renewable energy project developer, to negotiate a Convertible Loan Note and a Strategic Partnership Agreement. Hidrigin will subscribe for a £750,000 convertible loan note, accruing 10% interest annually, which can convert to equity at a 46% discount to future fundraising prices, subject to a cap of 3.7 pence and a floor of 1 pence per share. This £750,000 is funded by an interim payment previously received by CPH2. The agreement also includes a nine-month exclusivity period for Hidrigin to become the exclusive manufacturing partner in the UK, Ireland, US, Canada, and Mexico, with potential joint ownership of intellectual property for electrolyser improvements. This move signifies CPH2's shift towards a capital-light, IP-led business model. Disclaimer*
About this update from Clean Power Hydrogen Plc
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS DEFINED IN ARTICLE 7 OF THE MARKET ABUSE REGULATION EU NO. 596/2014, AS RETAINED AND APPLICABLE IN THE UK PURSUANT TO SECTION 3 OF THE EUROPEAN UNION (WITHDRAWAL) ACT 2018 ("MAR"). UPON THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INSIDE INFORMATION IS NOW CONSIDERED TO BE IN THE PUBLIC DOMAIN. 25 June 2026 Clean Power Hydrogen plc ("CPH2", the "Company" or the "Group") Signing of Term Sheet with Hidrigin Clean Power Hydrogen plc (AIM: CPH2), the UK-based green hydrogen technology company, announces that it has executed a binding term sheet (the "Term Sheet") with Lisheen H2 Energy Park Limited ("Hidrigin") pursuant to which, subject to satisfaction of certain conditions precedent, the parties have agreed to enter into definitive documentation relating to a Convertible Loan Note ("CLN") alongside a nine-month exclusivity period to negotiate and agree a Strategic Partnership and Manufacturing and Technology Development Agreement ("Strategic Partnership Agreement"). Hidrigin Lisheen H2 Energy Park Limited, which trades under the name Hidrigin, is a developer of renewable energy projects, including green hydrogen production for its commercial off takers. Manufacture of its Electrolysers will be outsourced to Jones Engineering Manufacturing Limited ("JEM"), a global engineering contractor. Hidrigin plan to develop Sustainable Aviation Fuel ("SAF") production facilities across Europe and North America, commencing with their flagship SAF project in Lisheen, Co. Tipperary in the Republic of Ireland. Convertible Loan Note The Term Sheet sets out the principal terms of the CLN which will be conditional upon, inter alia, the completion of an equity fundraise by CPH2 of £3 million or more by way of an issue of Ordinary Shares. The proposed transaction is also subject to further conditions, including the negotiation and execution of definitive documentation, shareholder approvals of the fundraise (if required), and the agreement of amendments to certain existing commercial arrangements between the parties. The Term Sheet provides that Hidrigin shall subscribe for a £750,000 convertible loan note accruing interest at 10 per cent. per annum. Conversion of the principle and interest to equity shall be upon specific conversion events, including (i) the c...
View stock analysis, news, and events for Clean Power Hydrogen Plc