Our subcontractor, Innosep, has built our first complete installation. It has now been delivered to the EU project MEASURED. This is an EU project with 17 participants from 9 different countries.
We have faced challenges in designing our welding process to suit the new materials that will be tested within the MEASURED project.
According to the latest plan from the project management, our equipment was expected to be ready for testing in June 2026. However, it may be difficult to both deliver the modules and install them according to that schedule, so we expect this to take place during autumn 2026.
The equipment is complete, and the production line for the modules is ready. However, the welding process in the automated line must be adapted to the new materials that the other participants in MEASURED want to test. It has become clear that the welding settings must be adjusted according to the membrane material used in the module.
Our main project within CWT is the production of absolutely pure water for hydrogen production, H₂. We were invited by Fortum to join a consortium called Project Air, consisting of Perstorp as the main initiator and project coordinator, Fortum and Uniper as energy partners, Sunfire as the electrolyzer supplier, and Johnson Matthey responsible for methanol technology/licensing and engineering services.
The total project cost has been stated as EUR 585 million, of which EUR 30 million would come from the Swedish Energy Agency and EUR 97 million from the EU.
However, both Fortum and Uniper have now left the project, and it is uncertain whether Sunfire and Johnson Matthey remain involved. The latest official update from Perstorp was published on 18 September 2024, and when asked, the project manager does not provide any unofficial information about the project.
It was based on Fortum’s inquiry that we started CWT. CWT’s offer to Perstorp was approximately SEK 30 million, but CWT no longer has expectations regarding this project and is instead pursuing other paths as follows:
Fortum has returned with a new project proposal.
Niterra, Japan, has signed a confidentiality agreement regarding the use of our technology in a special hydrogen production process they have developed, SOES.
Ekavikalp, India, has signed a cooperation agreement which, among other things, means that Ekavikalp will represent CWT in India and possibly also in other markets.
Baker McKenzie is working to support an M&A process with one of our partners or their customers.
Nomura has introduced us to a first collaboration partner in Japan, Teijin, which wants to contribute to continuous membrane development. We have signed a confidentiality agreement.
