Clean Power Hydrogen plans £50 million IPO on LSE

Clean Power Hydrogen plans £50 million IPO on LSE

LONDON, UK: Clean Power Hydrogen Plc (CPH2), the UK-based green hydrogen technology and manufacturing company, has expressed intention to list its shares to trading on AIM market of London Stock Exchange (IPO on LSE).

Clean Power Hydrogen Plc designs and manufactures hydrogen production units and is focused on the commercial production of green hydrogen in a simple, safe, and sustainable manner.

The Group intends to raise approximately £50 million by way of a placing of new Ordinary Shares on Admission. Cenkos Securities plc has been appointed as Nominated Adviser (“NOMAD”) and sole broker to CPH2.

The funds raised through the offering, along with the Group’s existing cash resources, will allow CPH2 to undertake capital investment in the Group at two key levels; to build out manufacturing operation including assembly, logistics and stack automation; and, to complete the identification of a potential site for a Northern Ireland factory and complete the fit out of the identified site and implement operations at the new factory.

The funds raised will also be used to continue investment in the Group’s research and development capability, enhance the existing intellectual property protection of the Group, provide working capital to enable the Group to establish a stock of completed units and with capital for investment in potential acquisitions to complement current Group operations, invest in the sales and marketing capability of the Group and provide contingency funding.

Jon Duffy, Chief Executive Officer of CPH2, said: “We are delighted to announce our proposed placing and Admission to AIM, to support the rapid growth of CPH2.

Our approach to electrolyser technology is based on challenging long held market views for the benefit of our customers and the market as a whole, and the result is a lower cost, simple, much more durable electrolyser to separate hydrogen and oxygen from water.

The new capital raised from a listing on AIM will position the Group well to become a globally recognised and highly profitable designer, manufacturer and licensor of the membrane free electrolyser with at least a 4GW production capacity by 2030.

“Hydrogen is central to Governments’ strategies to decarbonise the economy. This drive to net-zero is changing the way that electricity is generated, stored and managed. We are aiming to be at the forefront of the technology enabling this transition.”

CPH2 is the holding company of Clean Power Hydrogen Group Limited (“Clean Power”) which has almost a decade of dedicated research and product development experience.

This experience has resulted in the creation of simple, safe and sustainable technology which is designed to deliver a modular solution to the hydrogen production market in a cost-effective, scalable, reliable and long-lasting manner. The Group’s strategic objective is to deliver the lowest LCOH in the market in relation to the production of green hydrogen.

The Group’s MFE technology is already commercially available and demonstrating cost efficiencies and technological advantages.

In addition to a contracted orderbook of 4MW for delivery in 2022, the Group has an established pipeline of new opportunities at varying stages of development, including active discussions with current and quoted customers in respect of potential orders in excess of 160MW.

The Group designs and manufactures hydrogen production units that incorporate its MFE technology which, in combination with cryogenic gas separation, delivers hydrogen and oxygen in separate streams. When the Group’s MFE is supplied by renewable electricity it delivers green hydrogen with a purity of up to 99.999% and medical grade oxygen.

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