HydrogenOne's Positive Impact: Q2 2024 Portfolio Growth and Investments
Key Ideas
  • HydrogenOne's Q2 2024 report shows a 2.9% increase in Net Asset Value (NAV) per share, with private portfolio companies generating £76 million in revenue, indicating a positive growth trend.
  • Major investments in companies like Elcogen and HiiROC highlight increased confidence in clean hydrogen technology, with strategic investors injecting over £140 million during the quarter.
  • Strohm's successful fundraising and innovative products for low carbon pipelines demonstrate industry support for sustainable infrastructure solutions, with projects like TCP contracts enriching their portfolio.
  • The company's cash position of £1.7 million and portfolio additions like the Lubmin green hydrogen project in Germany reflect HydrogenOne's commitment to advancing clean hydrogen technologies across Europe.
HydrogenOne Capital Growth plc, based in London, has released its Q2 2024 Net Asset Value and Portfolio Update. The company, focusing on clean hydrogen investments for environmental benefits, reported a NAV per share of 103.60 pence, a 2.9% increase from the previous year. Private portfolio companies showed significant growth, with a 44% increase in total revenue. Several key investments were made during the quarter, including Elcogen receiving a major investment from Baker Hughes and HiiROC securing funds to expand into the US market. Strohm also completed a successful €30 million capital raise, showcasing investor confidence in sustainable infrastructure. The company's cash position remains stable at £1.7 million, with continued expansion into projects like the Lubmin green hydrogen initiative in Germany. HydrogenOne's portfolio companies, such as Sunfire, Elcogen, HiiROC, and Strohm, are making advancements in hydrogen technology with innovative projects and strategic collaborations, underpinning the growth of clean hydrogen sector and sustainable energy infrastructure in Europe.
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