GreenHy2 Limited Signs Exclusive Agency Agreement with GKN Hydrogen
GreenHy2 Limited (ASX:H2G) is pleased to announce the signing of an Exclusive Agency Agreement with GKN to integrate, assemble and supply GKN´s Hydrogen Equipment incorporating the OEM Hydrogen Metal Hydride Storage technology in Australia and NZ. GKN is a Global leader in Hydrogen Storage Technology, specialising in Solid State Hydrogen storage in Metal Hydrides.
The Exclusive Agency Agreement supersedes our Strategic Partnership with GKN Hydrogen and includes exclusivity for Australia and New Zealand.
The key terms of the Agreement include;
Commencement Date The Agreement commences on 1 January 2023
Initial Term and Further Terms Initial Term: The period of 2 years commencing on the Commencement Date, or until terminated in accordance with the Agreement.
First Further Term: The period of 2 years, commencing on the expiry of the Initial Term, or until terminated in accordance with the Agreement.
Second Further Term: The period of 3 years, commencing on the expiry of the First Further Term, or until terminated in accordance with the Agreement.
Territory: Australia and New Zealand
Additional Territories:GREENHY2 is free to act in countries and offer GKN equipment in the region of Southeast Asia on a project-by-project basis following GKN approval.
The Agreement is subject to GreenHy2 sales performance targets with a 1 year minimum tenure.
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GreenHy2 Limited (ASX: HG2 is one of Australia’s leading innovators in the delivery of engineering solutions for renewable energy. The company was established in 2011 and has specific expertise in Solid State Hydrogen Storage for use in fuel cells and as hydrogen gas. GreenHy2 is a clean energy company dedicated to reducing our collective carbon footprint.