Grupo Ibereolica Enters Agreement for Exclusive License Rights to CHP's Solar Water Cracker Technology
August 21 2007 - 4:50PM
PR Newswire (US)
MADRID, Spain, Aug. 21 /PRNewswire/ -- Grupo Ibereolica has today
signed an agreement with Clean Hydrogen Producers of Geneva,
Switzerland ("CHP")(OTC:CHPO) outlining the planning, permitting
and appraisal of CHP's Solar Water Cracker technology in Spain and
Mexico. 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 is a development-phase
alternative energy company. Its research is leading to full-scale
solar energy production in the form of hydrogen or electricity.
CHP's technology uses solar energy to crack the water molecule 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.
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, the company 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. 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 solar projects. 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 storage." 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 opportunity."
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/. DATASOURCE: Grupo Ibereolica
CONTACT: David Gomez of Grupo Ibereolica 34 91 557 05 66 or Web
site: http://www.grupoibereolica.com/
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