mPower Green Tech, a company that intends to bring to market a breakthrough technology for producing green hydrogen from biomass, will go public. This will happen thanks to the transaction with NewConnect-listed Teliani Valley Polska, which is currently changing its name to Global Hydrogen. The new company wants to introduce to the market the first containerized reactors producing green hydrogen.

Shareholders of Teliani Valley Polska SA will decide on June 13 to change the company's name to Global Hydrogen and change its business profile to energy and technology. The plan is to extinguish the current trading activities by the end of this year. Global Hydrogen will acquire mPower Green Tech, with a total transaction value of PLN 19 million, according to the provisions of the agreement concluded between the companies.  Further development of the company will focus primarily on the technology implementing innovative solutions in the production of mobile, containerized reactors producing green hydrogen from a wide range of biomass.

Austrian-Polish capital is behind the project, which is centered around scientists and developers.

"The ever-increasing interest in low-carbon and green hydrogen, and its use on a large scale, is a trend that will drive demand, as well as force the development of new technologies and the use of currently niche solutions. For a truly zero-carbon economy, hydrogen must come from fully renewable sources. That is why we have focused on a solution that will address the current challenges of the energy market," Manfred Schatovich, Chairman of the Supervisory Board of Teliani Valley Polska, during the change of the company to Global Hydrogen, said.

(WBJ)