Hydrogen Future Industries secures US green energy park deal

LONDON - Hydrogen Future Industries PLC (AQSE:HFI) has entered into a licensing agreement to establish a green energy park in Montana, USA, leveraging its proprietary wind-based hydrogen production technology. The park, to be developed by HFI Energy Systems US Inc, aims to attract energy-intensive industries with its combination of renewable energy sources and infrastructure.

The licensing agreement, signed by HFI’s subsidiary HFI IP Holdings Limited, grants HFI Energy an exclusive 10-year territory license, renewable for a fee of US$2 million. The initial license fee of US$2 million is due within four months, contingent on HFI Energy securing the necessary funds. Half of the initial payment will fund the development of HFI’s wind turbine energy system.

HFI Energy’s project, the HFI Green Energy Park, is expected to set a benchmark for clean, affordable energy in Whitehall, Montana. The park’s design caters to AI data centers requiring reliable energy and high-speed connectivity, offering wind, hydrogen, battery storage, and grid electricity options, along with high-capacity fiber-optic networks.

A heads of terms agreement has also been signed for a manufacturing license, allowing HFI Energy to produce and distribute HFI’s products within the US. The agreement stipulates royalty payments to HFI IP Holdings based on sales revenue from the licensed products, with rates varying depending on the level of the licensee’s contribution to the product’s design and development.

In a related party transaction, Tim Blake, CEO and significant shareholder of HFI, who also holds directorship and shares in HFI Energy, has been identified as a "related party." Independent (LON:IOG) directors of the company have reviewed and deemed the transaction fair and reasonable for HFI shareholders.

HFI has also provided an update on its audit process, with the final results for the year ended July 31, 2024, and interim results for the period ended January 31, 2025, expected to be published by June 30, 2025. This publication will enable the restoration of trading in the company’s shares.

Executive Chairman Neil Ritson expressed enthusiasm for the licensing deal, highlighting the significant market opportunity in the USA and the potential of the Green Energy Park to attract substantial investment.

This article is based on a press release statement from Hydrogen Future Industries PLC.

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