Fundraise generates more than £6m for clean power technology business

Green hydrogen technology and manufacturing company, Clean Power Hydrogen (CPH2), has conditionally raised gross proceeds of £6.1m.
The Doncaster-based company says this was via a placing of, and subscription for, a total of 81,398,156 new shares, in each case at the issue price of 7.5 pence per ordinary share.
The placing shares and subscription shares represent, in aggregate, 22.9% of the company’s existing ordinary shares.
CPH2 develops Membrane-Free Electrolysers (MFE) to produce green hydrogen.
Jon Duffy, CEO, said: “We are pleased to have secured this additional funding, which will allow us to further progress and enter into the next phase of CPH2’s development, targeting the full commercialisation of our flagship MFE220 unit and the generation of first revenues in 2025.
“The successful Factory Acceptance Test of the MFE110 unit in September marked a significant milestone, confirming the first customer acceptance and validation of our scaled electrolyser technology.
“This reinforces our confidence in the potential of our unique technology as a leading solution for the green hydrogen industry.
“I’d like to thank all of our investors, both new and existing, for their ongoing support, and we look forward to sharing more updates on our progress in the near future.“