UK Oil & Gas PLC (AIM:UKOG) recently raised £400,431 through a discounted fundraising initiative to advance its hydrogen storage project in Dorset. The company plans to develop a joint venture green hydrogen generation and import project at the deepwater Portland Port, positioning it as one of three similar hydrogen hubs in the UK. The funds will support the conceptual design and pre-front-end engineering steps required to qualify for the government's Hydrogen Storage Business Model procurement process. UKOG aims to import Middle Eastern green hydrogen carrier fluids to produce hydrogen for transmission into its storage site in South Dorset and the wider UK network. In collaboration with Portland Port, the company secured a lease agreement for developing hydrogen-ready gas storage caverns at the former Royal Navy port. This strategic move aligns with the growing focus on green energy and infrastructure development in the UK.