Disappointment for clean energy tech firm as delays lead to cancelled order
Green hydrogen technology and manufacturing company, CPH2, says delays to the development of its Membrane-Free Electrolyser (MFE) for production of hydrogen have resulted in a client cancelling its order.
The Doncaster-based company has blamed the delays on ongoing global supply chain problems and engineering and scale-up issues identified in the preliminary commissioning of its initial MFE units.
It highlights technical issues with the technology which still need resolving, meaning its first two MFE units will need to be retrofitted.
As a result, Octopus Hydrogen has informed CPH2 it has cancelled its order with the firm, as it intends to use an alternative electrolyser solution at its first site. CPH2 adds that it has reimbursed the deposit paid by Octopus Hydrogen.
Jon Duffy, chief executive officer of CPH2, said: “We are disappointed by the ongoing delays to the commissioning of our first MFE 220 unit.
“However, we understand the issues and are working through them thoroughly and sustainably. Our number one priority is ensuring we are able to deploy our first MFE 220 units in the field and to have these operating responsibly and efficiently.
“I would like to thank Octopus Hydrogen for their patience, support and understanding.
“The business continues to gain commercial traction and interest in our technology and our pipeline of potential orders continues to grow. The company remains on course to deliver our aims, targeting 4GW production capacity by 2030.”
Duffy stressed the company, which first floated on the AIM market in February of this year, is maintaining a strong balance sheet and is well funded to deliver on its business plan.