Back to previous section

Clean Power Hydrogen raises £6.1m in share placing

AIM-listed Clean Power Hydrogen has conditionally raised £6.1m in a share placing as it works towards completing three key projects.

  • Clean Power Hydrogen
  • 19 December 2024 08:46:29
Clean Power Hydrogen

Source: Sharecast

The company, otherwise known as CPH2, announced a placing of, and subscription for, a total of 81.4m new share at an issue price of 7.5p, representing 22.9% of its existing ordinary shares.

The placing and issue of new shares are conditional upon a shareholder vote at a general meeting on 8 January, amongst other conditions.

CPH2 proposed the placing on Wednesday, saying that proceeds will be used to fund working capital requirements for the shipping, installation and commission of its MFE110 electrolyser unit to Northern Ireland Water and completing the design and optimisation of the MFE220 electrolyser unit.

Following a successful factory acceptance test of the MFE110 unit in September, CPH2 is also working on completing the same for the first commercial MFE220 unit.

"We are pleased to have secured this additional funding, which will allow us to further progress and enter into the next phase of CPH2's development, targeting the full commercialisation of our flagship MFE220 unit and the generation of first revenues in 2025," said chief executive Jon Duffy.

Shares were down 2.4% at 7.61p by 0824 GMT.

FTSE AIM All-Share ( AXX )

Isin: N/A
Exchange: London Stock Exchange
Sell:
0.00
Buy:
0.00
Change: 1.29 ( 0.17 %)
Date:
Prices delayed by at least 15 minutes

Compare our accounts

If you're looking to grow your money over the longer term (5+ years), we have a range of investment choices to help.

View our accounts

Bank of Scotland is not responsible for the content and accuracy of the Markets News articles. We may not share the views of the author. Understand the risks, please remember the value of your investment can go down as well as up and you may not get back the full amount you invest. We don't provide advice so if you are in any doubt about buying and selling shares or making your own investment decisions we recommend you seek advice from a suitably qualified Financial Advisor. Past performance is not a guide to future performance.

Important legal information

Bank of Scotland Share Dealing Service is operated by Halifax Share Dealing Limited. Halifax Share Dealing Limited. Registered in England and Wales No. 3195646. Registered Office: Trinity Road, Halifax, West Yorkshire HX1 2RG. Authorised and regulated by the Financial Conduct Authority, 12 Endeavour Square, London, E20 1JN under number 183332. A Member of the London Stock Exchange and an HM Revenue & Customs Approved ISA Manager.

Logo Allfunds

The information contained within this website is provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd unless otherwise stated. The information is not intended to be advice or a recommendation to buy, sell or hold any of the shares, companies or investment vehicles mentioned, nor is it information meant to be a research recommendation. This is a solution powered by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd incorporating their prices, data news, charts, fundamentals and investor tools on this site. Terms and conditions apply. Prices and trades are provided by Allfunds Digital, S.L.U. acting through its business division Digital Look Ltd and are delayed by at least 15 minutes.

FE fundinfo Logo

Data provided by FE fundinfo. Care has been taken to ensure that the information is correct, but FE fundinfo neither warrants, represents nor guarantees the contents of information, nor does it accept any responsibility for errors, inaccuracies, omissions or any inconsistencies herein. Past performance does not predict future performance, it should not be the main or sole reason for making an investment decision. The value of investments and any income from them can fall as well as rise.

Refinitiv Logo

© 2025 Refinitiv, an LSEG business. All rights reserved.