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Oracle Power PLC - Pakistan-focused energy projects developer - Successfully raises GBP363,000 gross in June via a placing of shares at 0.1p. Says net proceeds will be used to advance its green hydrogen project in Sindh, Pakistan. Adds survey at green hydrogen project has revealed no obstructions, noting that the second quarter of the year has been "extremely productive."
Chief Executive Officer Naheed Memon says: "The second quarter of 2023 has been an extremely productive period for the company, with the signing of a number of significant agreements with energy leaders including PowerChina, K-Electric and PetroChina for the joint development of our energy projects including our flagship green hydrogen project, which signals the rapidly expanding appetite for green hydrogen as an alternative source of renewable energy."
Current stock price: 0.10 pence each, up 2.0% on Friday
12-month change: down 66%
By Sabrina Penty, Alliance News reporter
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