UK Oil & Gas PLC, listed on AIM, has raised £1 million through a share placing to further its hydrogen storage projects. The placement involved 2 billion new ordinary shares at 0.05p each, offering a 37% discount. Additionally, a Retail Offer is in the pipeline, with details to follow. The primary goal of this fundraising drive is to finance essential activities like environmental surveys and engineering studies vital for the progression of UKOG's hydrogen storage initiatives. The funds will also facilitate negotiations with potential joint venture partners and the finalization of a land option agreement for an additional storage site. Notably, UKOG has garnered interest from major industry players such as RWE, Sumitomo, and SGN, bolstering the company's reputation in the hydrogen sector. The sole placing agent for this funding round was CMC Markets UK Plc, operating under the name CapX. UKOG's Chief Executive, Stephen Sanderson, expressed confidence in the funding, emphasizing its role in advancing the company's projects and securing strategic partnerships. Sanderson highlighted the government's support towards hydrogen initiatives, aiming to integrate them into Britain's renewable energy landscape. This funding marks a significant step for UK Oil & Gas PLC in its journey towards contributing to the nation's hydrogen objectives and fostering collaborations in the energy sector.