A South Yorkshire green hydrogen technology and manufacturing company is set to float on AIM, raising £50m.
Clean Power Hydrogen (CPH2), based in Doncaster, designs and manufactures hydrogen production units and is focused on the commercial production of green hydrogen in a simple, safe, and sustainable manner.
The company has outlined plans to float on AIM, and intends to raise about £50m by way of a placing of new ordinary shares on admission.
CPH2 is aiming to become a globally recognised and highly-profitable designer, manufacturer and licensor of its MFE technology and is targeting 4GW production capacity by 2030.
It has an existing blue-chip customer base and a contracted orderbook of 4MW of unit production for delivery in 2022.
Jon Duffy, chief executive at CPH2, said: “We are delighted to announce our proposed placing and admission to AIM, to support the rapid growth of CPH2. Our approach to electrolyser technology is based on challenging long held market views for the benefit of our customers and the market as a whole, and the result is a lower cost, simple, much more durable electrolyser to separate hydrogen and oxygen from water.
“The new capital raised from a listing on AIM will position the group well to become a globally recognised and highly profitable designer, manufacturer and licensor of the membrane free electrolyser with at least a 4GW production capacity by 2030.
“Hydrogen is central to governments’ strategies to decarbonise the economy. This drive to net-zero is changing the way that electricity is generated, stored and managed. We are aiming to be at the forefront of the technology enabling this transition.”
In July 2021, CPH2 agreed a deal on a 29,000 sq ft unit for its new manufacturing facility.
Cenkos Securities plc has been appointed as nominated adviser and sole broker to CPH2.