Clean Power Hydrogen plc (CPH2), a UK-based green hydrogen technology and manufacturing company, has successfully closed an accelerated bookbuild, raising gross proceeds of £6.1 million. The funding round involved the placing and subscription of 81,398,156 new shares at an issue price of 7.5 pence per Ordinary Share. Cavendish Capital Markets Limited acted as the nominated adviser, broker, and bookrunner for the placement. The funding round is conditional upon certain factors, including the passing of resolutions at a General Meeting and the admission of the new shares by January 9, 2025. Directors and key management team members participated in the subscription, with a total of 7,432,510 subscription shares being issued to them. The company's CEO and CFO voluntarily withdrew from the company's 'Save as You Earn' scheme to facilitate their participation. Application will be made for the new shares to be admitted to trading on AIM, with expectations for dealings to commence on January 9, 2025. The company's enlarged issued share capital post-admission is expected to be 355,082,283 Ordinary Shares. The fundraising is subject to shareholder approval at a General Meeting scheduled for January 8, 2025. A Circular containing details of the meeting will be published soon. The successful funding round signifies a positive outlook for CPH2 and demonstrates confidence in the company's green hydrogen technology in the UK market.