HFI plan to develop pilot green hydrogen production system in Ireland

Hydrogen Future Industries PLC (HFI) has signed a long-term license agreement with a new framework to extend and implement its exclusive wind-powered green hydrogen production systems in Ireland. The deal is reportedly valued at up to €2.25 million.

It happens as Ireland moves forward with its goals to create and expand renewable and sustainable energy, including technology based on hydrogen.

HFI Ireland, a new firm, plans to create a pilot hydrogen production system to show the viability of green hydrogen generation in the region.

This Irish firm will have a 20-year licensing and exclusive rights and is expected to pay up to €2.25 million to the parent corporation throughout that time.
Meanwhile, the Aquis-listed parent firm will own 30% of the Irish business, increasing to 40% after an expected €1 million investment in the pilot energy system.

Neil Ritson commented, “This territorial licensing deal further validates the value of our IP and its importance in the renewable energy sector. Our CEO, Tim Blake, has been a regular visitor to Ireland over the last decade and has established relationships with key industry players. We look forward to providing further updates as we identify specific project opportunities and secure new sources of non-dilutive financing.”