UK Oil & Gas PLC, listed on AIM, successfully raised £400,431 through a discounted fundraising to advance their hydrogen storage project in Dorset. The project, to be developed at deepwater Portland Port, aims to create a significant hydrogen hub in the UK. The funds secured from institutional investors at a 42% discount will facilitate the conceptual design of a joint venture green hydrogen generation and import project at Portland Port, supporting pre-engineering steps for the government's Hydrogen Storage Business Model procurement. The intended port site will specialize in importing Middle Eastern green hydrogen carrier fluids and distributing hydrogen to the South Dorset storage site and the broader UK network. UKOG also finalized a lease agreement with Portland Port for two sites to establish hydrogen-ready gas storage caverns, showcasing a commitment to hydrogen infrastructure development in the region.