Clean Power Hydrogen PLC Announces £6 Million Share Offering for Expansion Plans
Key Ideas
- Clean Power Hydrogen PLC plans to raise £6 million through a share offering to support operational and strategic goals, focusing on advancing Membrane-Free Electrolyser (MFE) technology.
- The company recently passed a significant factory acceptance test for its MFE110 unit, paving the way for commercialization and deployment of the larger MFE220 unit.
- CPH2 has contracts in place with Northern Ireland Water, Fabrum Solutions in New Zealand, and Hidrigin in Ireland for the deployment of MFE units, with proceeds earmarked for shipping, installation, and commissioning.
- The fundraising will also aid CPH2's growth strategy by activating licence agreements and preparing for manufacturing scale-up to drive sustainable growth and shareholder value.
Clean Power Hydrogen PLC (AIM:CPH2) has announced plans to raise a minimum of £6 million through a share offering to support its operational and strategic objectives. The primary focus of these new funds will be to advance the development of its Membrane-Free Electrolyser (MFE) technology and achieve key milestones. Recently, the company achieved a significant milestone by passing a factory acceptance test for its MFE110 unit, which validated its technology with its first customer. Moving forward, CPH2 is concentrating on commercializing the larger MFE220 unit, with initial deployments planned for key partners such as Northern Ireland Water, Fabrum Solutions in New Zealand, and Hidrigin in Ireland. The company has already secured contracts for these units and has entered into licence agreements with strategic partners to facilitate global scalability. The proceeds from the fundraising will be utilized for the shipping, installation, and commissioning of the MFE110 unit, as well as for finalizing the design and deployment of the MFE220 unit. Additionally, the funds will support CPH2's growth strategy, which involves activating existing licence agreements and preparing for manufacturing scale-up by late 2026. CPH2 aims to establish a flexible and capital-efficient business model that combines in-house manufacturing with external partnerships to drive sustainable growth and create value for its shareholders.