Pineapple Power, a UK-based Special Purpose Acquisition Company (SPAC), has revealed its annual report for the year ended December 31 and announced an upcoming annual general meeting scheduled for June 27 in London. Shareholders have been encouraged to participate by submitting questions via email before the meeting. The SPAC, trading on the London Stock Exchange under the ticker symbol PNPL, is making a significant move into the green hydrogen sector. Pineapple Power has signed a non-binding agreement to acquire Ilios Hydrogen Canada Limited for GBP 33 million. Ilios Hydrogen is actively developing a pipeline of five modular sites in Italy, aiming to initially produce 20 MW of carbon-neutral hydrogen at each site with plans to expand to 100 MW. The company also has projects in Canada and future international ventures, potentially including the UK. The firm based in Vancouver, British Columbia, is considering building and operating production plants or capitalizing on the developed infrastructure, with options for hydrogen marketing and distribution. The acquisition process is contingent on due diligence and the finalization of a definitive agreement, with intentions to keep the combined entity listed on the Main Market of the London Stock Exchange. The sentiment towards this move into green hydrogen appears positive, signaling a strategic growth opportunity for Pineapple Power in the renewable energy sector.