Hydrogen Future Industries PLC has inked a long-term licensing deal, said to be worth up to €2.25 million, with a new framework to expand and deploy its proprietary wind-based green hydrogen production systems in Ireland.
It comes as Ireland advances its plans to develop and scale sustainable and renewable energy, which includes hydrogen-based technologies.
HFI Ireland, a new company, is to develop a pilot hydrogen production system to demonstrate the effectiveness of green hydrogen production in the region.
This Irish business will have a 20-year licence and exclusive rights and is projected to pay up to €2.25 million to the parent company over the period. Meanwhile, the Aquis-listed parent company will hold a 30% equity interest in the Irish business, rising to 40% following an anticipated €1 million investment in the pilot energy system.
“There is an energy crisis in Ireland due to the incremental demand being driven primarily from the growth of data centres,” HFI chief commercial officer Dan Maling said in a statement.
Photo of Hydrogen Future Industries PLC
Press release https://tinyurl.com/4rhj8bj8
