Clean Power Hydrogen (CPH2) has announced plans to trade on the AIM market of the London Stock Exchange.
The UK-based green hydrogen technology and manufacturing company intends to raise through a placing of new ordinary shares on admission.
Cenkos Securities (Cenkos) has been appointed as nominated adviser and sole broker to CPH2 during the admission process, which it hopes to complete in the next three weeks
CPH2 designs and builds hydrogen production units and is focused on the commercial production of green hydrogen in a safe and sustainable manner.
It hopes to take advantage of Downing Street’s ambitions to reach 5GW of hydrogen energy by the end of the decade as part of its 2050 net zero plans, and wants to penetrate a fast-growing market across the continent.
The development of the hydrogen economy is forecast to lead to a 650-times increase in European demand for electrolysers by 2030, with the EU’s electrolysis capacity target equivalent to 40GW.
This requires investment of up to €47bn towards electrolysers, producing 10 million tonnes per year of renewable hydrogen.
CPH2 is best known for developing its membrane-free electrolyser, which reduces the risk of failure and downtime for maintenance purposes and cuts down production costs, as degradation issues involving of the membrane are avoided.
The design has challenged the market view that mixed gases must be avoided for safety reasons by removing all potential sources of combustion, including heat, dynamic pressure fluctuations and friction, with separation of the gases then following by utilising cryogenic separation.
CPH2 is aims to become a globally recognised and highly-profitable designer, manufacturer and licensor of its membrane-free technology, and is targeting 4GW production capacity by 2030.
Chief executive John Duffy said: “We are delighted to announce our proposed placing and Admission to AIM, to support the rapid growth of CPH2. 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.”