By Anthony O. Goriainoff Clean Power Hydrogen PLC said Wednesday that revenue for 2022 will be lower than expected as the sales income from its membrane-free electrolyzer, or MFE, units will now be realized in 2023 due to delays. The U.K. hydrogen production technology company said the issues in commissioning and delivering its first MFE220 units have been exacerbated by delays in the global supply chain.
It added that although it expects to deliver the first two contracted units before the end of the year, their performance will be subject to further optimization as it finalizes the revised design and engineering processes. However, the company said that the effect of the reduced income will be more than offset at a cash level as it has recently signed a licensing deal with GHFG Ltd., adding that it expects its cash position to be ahead of forecasts,…