"Mercury EV-Tech Ltd Signs MoU with Hydrogen Horizons Ltd"

On Tuesday, February 27, 2024, Mercury EV-Tech Limited, referred to as 'the Company' or 'Mercury group', announced the signing of a Memorandum of Understanding (MoU) with Hydrogen Horizons Ltd (HHL), registered in the United Kingdom, and Hydrogen Horizons Israel Ltd (HHIL).

The agreement outlines plans for a joint venture between HHIL, HHL, and Mercury Group aimed at developing and manufacturing a patented product, known as the Hydra Pak, for commercialization. Specifically, the venture will focus on leveraging the patented technology of a hydrogen vessel (ref US 8628 609 B).

Under the terms of the MoU, Mercury EV-Tech Limited and HHL will hold stakes in the joint venture in a 60:40 ratio, respectively. This collaboration marks a significant step towards advancing hydrogen-based technologies and underscores the commitment of all parties involved to drive innovation and commercialization in this sector.

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