Clean Power Hydrogen's Ambitious Growth Strategy Unveiled with £6m Fundraiser
Key Ideas
- Clean Power Hydrogen PLC plans to raise £6 million to support its Membrane-Free Electrolyser technology and achieve key milestones.
- Recent success in passing a major factory acceptance test validates the company's technology with its first customer.
- CPH2 is set to commercialize larger units and has contracts in place with key partners for deployment, aiming for global scalability.
- The fundraising proceeds will fund deployment, manufacturing, and growth strategies to drive sustainable growth and shareholder value.
Clean Power Hydrogen PLC (AIM:CPH2) has announced plans to raise over £6 million through a share offering to support its operational and strategic goals. The company's focus is on advancing the development of its Membrane-Free Electrolyser technology, with recent validation through a successful factory acceptance test for its MFE110 unit. The next steps include commercializing the larger MFE220 unit, with initial deployments planned for various locations, such as Northern Ireland Water, New Zealand's Fabrum Solutions, and Ireland's Hidrigin. CPH2 has secured contracts and license agreements with partners to facilitate global scalability. The raised funds will cover the deployment, manufacturing, and growth of these units, as well as support CPH2's overall growth strategy, emphasizing a blend of in-house manufacturing and external partnerships for sustainable expansion. The company aims to achieve manufacturing scale-up by 2026 while maintaining a capital-efficient business model.