UK Oil & Gas has secured funding to advance its South Dorset hydrogen storage project and participate in the upcoming hydrogen allocation round in the UK. The company raised over £400,000 through a private placing of new shares to professional investors. The project includes storing hydrogen in 24 salt caverns at a depth of 1,330m near Weymouth in Dorset, with a capacity of 1.01bcm. Additionally, a hydrogen trunk pipeline is planned to connect South Dorset to the UK's main hydrogen clusters. The funds will also enable the development of a green hydrogen generation and import project at Portland Port, aiming to facilitate the production and transmission of green hydrogen to the wider UK. UK Oil & Gas is in discussions with energy infrastructure investors for joint venture participation in its projects. The company's CEO highlighted the importance of these funds in enhancing their competitiveness for government support and potentially initiating a significant hydrogen system in Southern England.