HFI Hydrogen Future Industries PLC

 
TIDMHFI 
 
18 January 2024 
 
Hydrogen Future Industries plc 
 
("HFI" or the "Company") 
 
Business Update 
 
Hydrogen Future Industries plc (https://hydrogenfutureindustries.com/) (AQSE: 
HFI), a developer of a proprietary green hydrogen production system featuring an 
advanced aerodynamic wind turbine and a high-performance electrolyser, is 
pleased to provide the following update on recent activities. 
 
Mining sector Feasibility Study 
 
HFI has commenced its first mining sector feasibility study (the "FS"), which is 
being undertaken in collaboration with a mining major on a working mine site in 
the USA. The mine site operations involve the treatment of mine tailings and 
associated water. The purpose of the FS is to demonstrate the use of HFI's 
system to utilise wastewater from tailings as a feedstock to generate clean 
energy and clean water as a by-product for on-site mining operations. The first 
stage of the FS is underway and includes data collection from HFI's prototype 
wind turbine in Montana and the sharing of mine site processing samples. 
 
MoU signed with Australian renewable energy microgrid partner 
 
Considering Australia's ambitions to become a global hydrogen leader, the 
country has been identified by HFI as a target market for the initial deployment 
of its patented green hydrogen production system. A Memorandum of Understanding 
("MoU") has been signed with Capricorn Clean Energy Limited to facilitate the 
identification of local project and partnering opportunities, particularly those 
related to the Australian Renewable Energy Agency's ("ARENA") Regional 
Microgrids Programme ("RMP") established in August 2023 to support the 
development and deployment of renewable energy microgrids. ARENA has committed 
up to A$125 million in funding toward the RMP, which is split into two streams 
as follows: A) Regional Australia Microgrid Pilots; and B) First Nations 
Community Microgrids. 
 
HFI's Board believes the Company's energy system is uniquely placed to 
economically provide on-demand green energy through microgrids across Australia. 
 
Technology development update 
 
Data collection continues on the Company's 1 metre prototype wind turbine in 
Montana. Remote measuring equipment is being installed to collect data during 
the more extreme winter months. Data collected to date have been consistent with 
those collected in the 15,000 hours of computational fluid dynamics ("CFD") and 
wind tunnel testing and suggests an increase in energy production of upwards of 
270% compared to open rotor wind turbines. These data will be independently 
analysed and fed into the mining sector FS described above. 
 
Plenary sessions are underway with the University of Bristol ("UoB") for the 
next phase of the HFI electrolyser development announced on 7 December 2023. It 
is anticipated that the electrolyser will be utilised in conjunction with the 
deployment of the Hydrogen Depleted Uranium Storage ("HyDUS") project, a 
collaboration between the UoB, EDF UK (lead partner), Urenco, and the UK Atomic 
Energy Authority (UKAEA). Learnings from the UoB collaboration will be included 
in ongoing electrolyser patent submissions by HFI. 
 
The Company is focusing its resources on turbine and electrolyser development, 
and securing near-term commercial opportunities, prior to progressing other 
elements of the system such as the Smart Hydraulic Drive and Dynamic Tower. 
 
Update on Tower Group Investment 
 
Further to the Company's investment for a 20% stake in Tower Green Holdings 
Limited ("Tower") announced on 16 January 2023, HFI is pleased to report that 
Tower has made significant progress in building its position as the hydrogen 
infrastructure developer for Southwest England[LL1]. Tower attracted widespread 
media coverage for its Appledore project, which seeks to develop onshore 
hydrogen production and refuelling infrastructure in north Devon and supply 
offshore wind support vessels. Tower will continue to develop these proposals 
throughout 2024 and its position as the provider of maritime hydrogen refuelling 
projects in support of offshore wind and other clean maritime operations in the 
region. 
 
Tower has also built a pipeline of other infrastructure projects throughout the 
southwest, including a road mobility project in Devon, with real estate and 
partnerships secured to supply hydrogen directly to industrial off-takers and to 
the strategic road network. Further project announcements are expected to be 
made throughout the year.[LL2] 
 
Tim Blake, CEO, HFI Energy Systems, commented: 
 
"With the mining sector accounting for 10% of global energy and 80% of 
electricity consumption[JW3][TB4], the FS provides an initial step towards the 
commercial opportunity to produce energy from wastewater onsite which is vast. 
 
"Billions of litres of wastewater are created every day from industrial 
locations such as mine sites which require treatment before release. Mines are 
typically remote and require huge energy resources to sustain operations. The 
opportunity is for HFI's wind hydrogen production system to solve both problems. 
We are excited to be collaborating with one of the world's largest and most 
forward-thinking miners to undertake a feasibility study." 
 
"Our technology development team has exceeded expectations in the delivery of 
sector-leading technologies. With our prototype wind turbine testing supporting 
energy gains of over 270% compared to open rotor configurations and early-stage 
electrolyser tests running at 97.1% efficiency, we have a lot to be excited 
about. Delivery of the mining feasibility study and our collaboration with the 
University of Bristol will be a key focus for 2024." 
 
Daniel Maling, Executive Director of HFI, commented: 
 
"The global mining sector represents one of the biggest end markets for HFI's 
energy system due to its high energy requirements and significant wastewater 
generation. We are excited to be collaborating with one of the world's largest 
and most forward-thinking [LL5][TB6]miners to undertake a Feasibility Study." 
 
"We are also delighted to be expanding our geographical focus to Australia. The 
Australian Government's approach to supporting technology-led solutions for the 
future energy mix is welcomed. The opportunity to apply elements of our patented 
technology to service microgrid project opportunities and grant funding is 
compelling." 
 
Enquiries: 
 
Hydrogen Future Industries plc 
Daniel Maling, Executive Director                      +44 (0)20 3475 6834 
 
Vigo Consulting (Investor Relations) 
Ben Simons                                             +44 (0) 20 7390 0230 
Peter Jacob 
 
Cairn Financial Advisers LLP (AQSE Corporate Adviser) 
Ludovico Lazzaretti                                    +44 (0) 20 72130 880 
 
Liam Murray 
 
Peterhouse Capital Limited (Broker) 
Duncan Vasey                                           +44 (0) 20 7469 0930 
 
Inside Information 
 
This announcement contains inside information for the purposes of the UK Market 
Abuse Regulation and the Directors of the Company accept responsibility for the 
contents of this announcement. 
 
About Hydrogen Future Industries 
 
Hydrogen Future Industries was established to invest in projects and companies 
focused on the Hydrogen Economy. We are developing a proprietary wind-based 
hydrogen production system, featuring an advanced aerodynamic wind turbine and a 
high-performance electrolyser. Through this technology, we aim to significantly 
reduce the cost of hydrogen production from renewable sources and provide on 
-demand energy storage in the form of hydrogen at a fraction of the cost of 
lithium-ion battery storage. Click here (https://hydrogenfutureindustries.com/wp 
-content/uploads/2022/07/HFI-Flyer-for-Website.pdf) for more information about 
Hydrogen Future Industries. 
 
Visit our website: www.hydrogenfutureindustries.com 
 
Follow us on social media: 
 
LinkedIn: @Hydrogen Future Industries (https://www.linkedin.com/company/hydrogen 
-future-industries) 
 
Twitter: @HydrogenFI (https://twitter.com/HydrogenFI) 
 
Caution Regarding Forward Looking Statements 
 
Certain statements made in this announcement are forward-looking statements. 
These forward-looking statements are not historical facts but rather are based 
on the Company's current expectations, estimates, and projections about its 
industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 
'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions 
are intended to identify forward-looking statements. These statements are not a 
guarantee of future performance and are subject to known and unknown risks, 
uncertainties, and other factors, some of which are beyond the Company's 
control, are difficult to predict, and could cause actual results to differ 
materially from those expressed or forecasted in the forward-looking statements. 
The Company cautions security holders and prospective security holders not to 
place undue reliance on these forward-looking statements, which reflect the view 
of the Company only as of the date of this announcement. The forward-looking 
statements made in this announcement relate only to events as of the date on 
which the statements are made. The Company will not undertake any obligation to 
release publicly any revisions or updates to these forward-looking statements to 
reflect events, circumstances, or unanticipated events occurring after the date 
of this announcement except as required by law or by any appropriate regulatory 
authority. 
 
[LL1]Please provide supporting documentation / links for statement 
 
[LL2]As per comment above, any documentation / comms to support statements 
 
[JW3]Please provide verification 
 
[TB4]https://www.theworldcounts.com/challenges/planet-earth/mining/energy-use-in 
-the-mining-industry 
 
[LL5]As per comment above - who is the mining major 
 
[TB6]Barrick Gold Corporation 
 
 
This information was brought to you by Cision http://news.cision.com 
 
 
END 
 
 

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