HydrogenOne Capital Growth plc: Leading the Green Energy Revolution
Key Ideas
- HydrogenOne Capital Growth Plc is the first London-listed fund focusing on clean hydrogen investments, showing a positive growth outlook in the sector.
- The company reported a 0.6% increase in NAV per share and strong revenue growth from portfolio companies, with strategic investments totaling EUR 670 million.
- The focus on ESG principles is highlighted through the company's alignment with the EU Taxonomy, greenhouse gas emissions avoided, and stewardship activities with private portfolio companies.
- The clean hydrogen sector shows resilience and growth potential, with a 50% increase in green hydrogen production and a 25% rise in investments in the sector compared to the previous year.
HydrogenOne Capital Growth Plc, also known as HGEN, is the first London-listed fund that specializes in clean hydrogen investments with a focus on positive environmental impacts. Launched in 2021, the company aims to achieve capital growth by investing in a diversified portfolio of hydrogen assets while incorporating core ESG principles into its decision-making process. As an Article 9 climate impact fund under the Sustainable Finance Disclosure Regulation, HGEN stands out as a leader in the green energy technology sector. The company's NAV per share increased by 0.6% from December 2023 to June 2024, reaching 103.60p, showcasing steady growth. Additionally, there was a significant boost in revenue from portfolio companies, totaling £76 million in the 12-month period to June 2024, a 44% increase from the previous year. Strategic investments from industrial and financial backers, such as Baker Hughes and GIC, amounted to EUR 670 million, further solidifying HGEN's position in the market. The company's commitment to ESG practices is evident through its alignment with the EU Taxonomy, cumulative greenhouse gas emissions avoided, and efforts to enhance ESG credentials among its private portfolio companies. Despite challenging macroeconomic conditions, the clean hydrogen sector demonstrated strength, with notable increases in green hydrogen production and investments. This promising growth trajectory underscores HGEN's strategic advantage as a pioneer in the hydrogen industry.