Clean Power Hydrogen plc

("CPH2" or the "Company")

Operations & Trading Update

CPH2 (AIM:CPH2), the developer of the market disrupting and IP-protected Membrane-Free Electrolyser ("MFE") technology for the production of high purity hydrogen and above medical-grade purity oxygen, announces an operations and trading update.

Commercial Progress

The first of the Company's 1MW MFE220 units has left the factory to complete the third and final stage of its Factory Acceptance Test ("FAT") at the Company's dedicated test-site. CPH2 has firm orders for four units and a strong and credible sales pipeline is being built, with a significant increase in new customer opportunities in UK, India and the Middle East, including a number of which are now backed by Memoranda of Understanding and / or Letters of Intent.

On 24 March 2026, the Company announced that it had signed a non-binding agreement with Siemens to explore opportunities to upscale production and accelerate technology advances. When formalised, the Siemens agreement will support CPH2 with product, process and technology development, customer introductions and go-to-market strategies.

In addition, CPH2 has entered into non-binding collaboration arrangements with:

·      Zero Carbon Consultants to develop the supply, install, commissioning and maintenance of up to 20MW of membrane-free electrolysis capacity for its wind farm project 'Community Energy Projects';

·      Amman Renewable Energy Company (AREC) which is representing CPH2 in Jordan, Syria, Iraq and Saudi Arabia for potential projects of up to 20MW capacity; and

·      Allround Agritech Solutions Private Limited, India, which is developing agricultural production solutions potentially requiring up to 20MW of CPH2 membrane-free electrolysers.

The growing sales pipeline also includes additional and credible negotiations underway from customers in Germany, Austria and Ireland, building on existing orders in the island of Ireland and New Zealand.

Operations Update

Level two of the MFE220 FAT for the first of the Company's 1MW MFE220 units has been achieved and signed off by Lagan MEICA Limited ("Lagan"), the principal contractor to Northern Ireland Water ("NIW"), and ARUP, representing NIW.

The Company is on track to complete the third and final stage of the FAT in April 2026, which will be witnessed and signed off by ARUP and Lagan at that time. This will be a landmark milestone, demonstrating the successful operation and customer acceptance of the first 1MW commercial electrolyser in this new category and de-risking the subsequent repeated test (Site Acceptance Test) at the customer's site in Q3 2026, triggering first commercial revenues for CPH2.

Technology Advances

The Company's scaled demonstrator unit, the MFE110, has demonstrated independently verified higher-value hydrogen purity of 99.999vol%, exceeding fuel cell grade purity requirements, and oxygen of 99.7%, exceeding medical grade purity requirements and marking a clear contrast with traditional electrolysers which are required to vent their lower purity oxygen.

This performance, combined with delivering a high value oxygen co-product, opens new market opportunities and technology applications for CPH2 and new revenue streams for operators, further lowering the lifetime levelised cost of hydrogen ("LCOH") based on the EU Commissions' published methodology. Part of the Company's technology roadmap is to demonstrate higher levels of oxygen purity, into the 'ultra-high-purity' (UHP) grade of oxygen, which could significantly improve project economics in certain use cases.

Looking forward, the Company expects the second generation of its 1MW unit, the MFE220 Mark II, to complete FEED (Front-End Engineering Design) by December 2026, with final design in 2027 and first build in 2028.

Separately the Company is targeting to finalise the concept design for its first 5MW MFE unit in December 2026, with FEED to complete in 2027 and final design in 2028, with market leading efficiency of 48kWh/kg/H2 targeted.

Jon Duffy, CEO of CPH2, commented: "We have proven and patented technology for the production of high purity hydrogen and medical-grade oxygen, tailored for the growing part of the market. In an unstable world, alternative energy sources are vital. Where electrification is unsuitable, CPH2 technology can support decentralised energy projects everywhere. With new technology partners, a growing sales pipeline and activating licensees, we are accelerating our commercialisation phase while our future product roadmap holds out the realistic prospect of negative cost hydrogen for the right application."

ENDS

Enquiries:

Clean Power Hydrogen plc                                                                   +44 130 232 8705

Jon Duffy, Chief Executive Officer        

James Hobson, Chief Financial Officer

Cavendish Capital Markets Limited - NOMAD & Joint Broker

Neil McDonald                                                                                      +44 131 220 9771

Peter Lynch                                                                                           +44 131 220 9772

Turner Pope Investments (TPI) Limited - Joint Broker

Andy Thacker

Guy McDougall                                                                                     +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