GreenHy2 signs agreement with GKN
GreenHy2 Limited 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 the following:
- Commencement Date The Agreement commences on 1st 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.