GENEVA, Switzerland, Aug. 16 /PRNewswire-FirstCall/ - Clean Hydrogen
Producers (OTC:CHPO.PK) has today signed an agreement with GRUPO
IBEREOLICA, outlining the planning, permitting and appraisal of CHP's Solar
Water Cracker technology in Spain and Mexico.
Ibereolica is a significant multi-national alternative energy company
based in Madrid, Spain, with established operations in wind farming and
solar energy. Over the next five years, Ibereolica plans to roll out
multiple mass solar energy generation plants, taking advantage of the
excellent conditions in Spain and Mexico for such projects.
The pre-sale agreement details terms that grant Ibereolica an exclusive
license right to promote, install and manage solar energy plants in Spain
and Mexico, using the CHP Solar Water Cracker, for a period of 20 years.
CHP has received a non refundable prepayment for the license of
(euro)500,000 and this will be booked as revenue by CHP. This recognizes
the degree of commitment from Ibereolica in the 20 year agreement and the
strength of the working relationship between the two parties.
The CHP Solar Water Cracker is a system which concentrates sunlight,
increasing the heat of a furnace to the point where it "cracks" a molecule
of water into hydrogen and oxygen. The hydrogen can be sold or run through
a fuel cell to generate energy. This energy can then be sold back to the
grid. Hydrogen and electricity is produced at a cost - both financial and
environmental - that is substantially below that of existing technologies.
The technology is protected by multiple patents in multiple countries.
The agreement represents a significant breakthrough for CHP. In addition to
providing a revenue injection, collaboration with Ibereolica will
accelerate the process leading to production of fully operational solar
energy units utilising the Solar Water Cracker.
Ibereolica, founded in 1999, is an established provider of wind energy.
Its three wind farms in Zamora and its share in Parque Eolico El Moral are
forecast to produce 300 million kWh of electricity in 2007, and Ibereolica
has a further 800MW in promotion in Spain and overseas.
In Solar energy, Ibereolica has 14 power plants of 50MW each under
permitting. Each plant costs (euro)250 million. To develop its presence in
solar energy, Ibereolica has undertaken an extensive search for appropriate
technologies, culminating in location of CHP's superior Solar Water Cracker
system. Estimated royalty revenue for CHP from the projects under
permitting in Spain alone could exceed (euro)400 million in 10 years.
In Mexico, where Ibereolica has a 100MW wind energy project under
permitting, the reduced installation cost of CHP's technology will allow
the company to enter the solar energy arena, and solicit and build numerous
David Gomez, CEO of Grupo Ibereolica, said: "We believe that CHP's
technology, if successfully developed, could represent a very big milestone
for renewable energies. It combines the cost efficiency of wind farms with
the advantage of being both predictable and adjustable thanks to hydrogen
He added: "It is one of the few renewable technologies that aren't
sensitive to the stability of power lines. This permits widespread
implementation, even in areas with weak electrical infrastructure.
"Certifying a prototype with CHP could reduce Ibereolica's project
installation costs by a factor of three, and enable us to comfortably
surpass 1.000MW installed capacity. We are happy to have the license for
Spain, a leading country in renewable energy. This combined with Spain's
privileged solar radiation makes for a very promising business
About Clean Hydrogen Producers:
CHP is a development-phase alternative energy company. Its research is
leading to full scale solar energy production in the form of hydrogen or
electricity. The particularity of CHP is to be able to crack the water
molecule via solar energy into hydrogen and oxygen, for a much higher
energy conversion rate from solar into electricity. The system is
efficient, cheap in production, modular and allows storage of energy for
later release. The company is based near Geneva, Switzerland.
CHP website: http://www.clean-hydrogen-producers.com/
About Grupo Ibereolica:
Ibereolica is an alternative energy company based in Madrid, Spain.
Over the next five years, Ibereolica plans to roll out multiple mass solar
energy generation plants, taking advantage of the excellent conditions in
Spain and Mexico for such projects.
Grupo Ibereolica website: http://www.grupoIbereolica.com/.
This press release contains 'forward looking' statements within the
meaning of Section 21A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934 as amended, and are
subject to the safe harbors created thereby. Such statements involve
certain risks and uncertainties associated with an emerging company. Actual
results could differ materially from those projected in the forward-looking
statements as a result of risk factors discussed in New Wave Mobile reports
that will be on file with the US Securities and Exchange Commission.
SOURCE Clean Hydrogen Producers