Clean Power Hydrogen announces £6.5m
Clean Power Hydrogen PLC (AIM:CPH2) is raising £6.5 million through a placing and share subscription, priced at 5p, with proceeds expected to support the continuing development of its technology.
Specifically, it provides working capital through to the site acceptance test of its first commercial Membrane-Free Electrolyser (MFE) unit, and its commercial pipeline.
The company said in a statement,
The company has a clear focus on converting the significant pipeline into orders, accelerating additional pipeline growth, leveraging test results at NIW to engage with water utilities in the UK and Europe and supporting licensees to start manufacturing and selling product,
Additionally, the firm will undertake a retail offer, at the same price, to raise a further £300,000.
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Clean Power Hydrogen announces £6.5m, source
