TP ICAP Group PLC

Regulatory Filings • Aug 3, 2020

National Storage Mechanism | Additional information

RNS Number : 8452U

TP Group PLC

03 August 2020

3 August 2020

TP Group plc

("TP Group", "the "Company" or the "Group")

Hydrogen system contract

TP Group (AIM: TPG), the providers of mission-critical solutions for a more secure world, is pleased to announce it has secured a contract worth approximately £1.0 million with a leading UK engineering company to provide management control equipment for enhanced safety management of hydrogen gas.

Under this contract, TP Group will qualify the design concepts, build and test a prototype system to manage hydrogen during emergency shutdown procedures more safely and reliably than existing methods.

Environments where explosive gas is present are classified into zones according to risk and are closely controlled. This innovative design uses combines TP Group's technologies with techniques that have been proven in other applications, which will be modified to perform in enclosed or containerised situations. The key objective is to respond quickly to a shutdown event, process the hydrogen and allow it to be vented safely in the controlled zone.

The project will start immediately at the TP Group facility in Portsmouth and is expected to be completed in mid-2021.

Phil Cartmell, Chief Executive Officer of TP Group, commented:

"We are very pleased to continue our work on mission-critical gas management systems with this existing key customer.

"These innovations build upon decades of experience producing highly reliable electrolyser-based solutions for demanding operational use, giving us the confidence that our solutions are well positioned for many years of future service. This contract is also highly complementary to other projects currently in development which leverage our expertise in innovative oxygen and hydrogen generation and management systems.

"The new approaches developed through this work apply in a wide range of critical applications where safe evacuation of hydrogen is needed. This opens up a range of potential uses in life support and renewable energy applications that the Group is actively pursuing."

For further information, please contact:

TP Group plc	Tel: 01753 285 810
Phil Cartmell, Chief Executive Officer
Derren Stroud, Chief Financial Officer
www.tpgroup.uk.com
Cenkos Securities plc	Tel: 020 7397 8980
Stephen Keys / Mark Connelly / Callum Davidson
www.cenkos.com
Vigo Communications	Tel: 020 7390 0230
Jeremy Garcia / Charlie Neish
www.vigocomms.com

Notes to Editors

TP Group delivers complex equipment, software and services for mission, business and safety critical applications in defence, space, intelligence & security and energy sectors. With more than 400 people in 6 European countries, it serves global customers through long-term contracts. The Group's shares have been traded on AIM since July 2001.

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