UK Oil & Gas PLC, a London-based energy exploration and production company, has raised £1.0 million through a share placing to advance its hydrogen storage projects in Dorset and Yorkshire. The company also plans a retail offer at the same price for existing shareholders. The funds will be utilized for environmental and engineering studies, application for UK government support, and attracting strategic partners. The Chief Executive, Stephen Sanderson, is optimistic about the support from the UK government in making hydrogen storage a fundamental part of the country's renewable energy strategy. Additionally, the company received support from RWE AG, a German utility company, for the projects. This fundraising effort follows a previous share placing in July, indicating ongoing financial support for the company's initiatives in the hydrogen sector.