MoU27 Feb 2024, 07:19 pm
Mercury Ev-Tech Ltd Enters into Memorandum of Understanding with Hydrogen Horizons Ltd and Hydrogen Horizons Israel Ltd
AI Summary
The company has entered into a Memorandum of Understanding (MOU) with Hydrogen Horizons Ltd and Hydrogen Horizons Israel Ltd to form a joint venture for developing and manufacturing a patented product for hydrogen vessels. The joint venture will be incorporated as a new entity, with Mercury Ev-Tech Limited and HHL owning 60% and 40% shares respectively. The consideration for the joint venture is yet to be determined.,
Key Highlights
- Entered into MOU with Hydrogen Horizons Ltd and Hydrogen Horizons Israel Ltd
- To develop and manufacture a patented product for hydrogen vessels
- Joint venture to be incorporated as a new entity
- Mercury Ev-Tech Limited and HHL to own 60% and 40% shares respectively
- Consideration for joint venture yet to be determined