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Molecular Energies PLC announced on 28 November 2023 that its subsidiary, G-Mobility, signed a non-binding framework agreement with Clean Power Hydrogen PLC (CPH2). Under this agreement, the parties will explore a licensing arrangement for the manufacture and sale of CPH2's electrolysers in the Mercosur trading bloc in South America.
| Date | 28 Nov 2023 |
| Time | 07:00:10 |
| Category | Corporate updates |
| ID | 8237U |
28 November 2023
MOLECULAR ENERGIES PLC
("MEN" or the "Company")
Agreement signed between G-Mobility and Clean Power Hydrogen
Molecular Energies (AIM: MEN), the international energy company, provides an update relating to G-Mobility and CPH2.
G-Mobility, a subsidiary of Green House Capital, the green division of Molecular which is progressing a spin out and IPO notes the RNS announcement of Clean Power Hydrogen PLC ("CPH2") made today in relation to a non-binding framework agreement having been signed between G-Mobility and CPH2.
Under the non-binding framework agreement the parties will explore a licensing arrangement for the manufacture and sale of CPH2's electrolysers in the Mercosur trading bloc of countries in South America.
G-Mobility believes there is a significant market opportunity for the supply of domestically produced electrolysers in the large Mercosur trading bloc including Brazil, Paraguay, Uruguay and Argentina, and this agreement is enhances the ability of G-Mobility to be a key player in this market.
For more information, please visit www.molecularenergiesplc.com or contact:
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Molecular Energies PLC Peter Levine, Chairman Rob Shepherd, Group FD
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+44 (0)20 7016 7950 |
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Cavendish Capital Markets Limited (Nominated Advisor and Broker) Simon Hicks, George Dollemore
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+44 (0)20 7220 0500 |
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Tavistock (Financial PR & IR) Simon Hudson, Nick Elwes, Charles Baister |
+44 (0)20 7920 3150 |
Notes to Editors
Molecular Energies PLC is an AIM listed company at the forefront of energy development and has interests across the energy spectrum, from an oil and gas project to the green and alternative energy sector.
The Company currently has an oil exploration asset in Paraguay. The Company has two separate subdivisions which are focused on early-stage opportunities in the green and/or alternative energy sub-sector.
Activities in the green and alternative energy space are being carried out direct through Molecular and under the Green House Capital brand and through AIM listed Atome Energy PLC, a green hydrogen, ammonia, and fertiliser company operating in Paraguay, Costa Rica and Iceland, in which Molecular currently has 20.5%.
With a strong strategic and institutional base of support, no third-party financial debt and a Chairman whose interests as the largest shareholder are aligned to those of its shareholders, Molecular gives UK investors access to an energy growth story combined with world class standards of corporate governance, environmental and social responsibility.
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