Clean Power Hydrogen PLC - Doncaster, England-based designer and manufacturer of green hydrogen production units - Plans initial public offering on AIM market in London in early February. Appoints Cenkos Securities PLC as nominated adviser and sole broker. The IPO is expected to raise GBP50 million for the company. Clean Power Hydrogen has developed a membrane-free electrolyser for commercial production of green hydrogen, and it will use some of the funds raised to build a new factory in Northern Ireland, added to its existing facility in Doncaster.
Clean Power Hydrogen has secured agreements with Kenera Energy Solution Ltd, part of Aberdeen-based KCA Deutag. Kenera will invest USD10 million in the Clean Power Hydrogen share placing, and the two companies also will have a technical cooperation deal that will see Kenara assemble Clean Power Hydrogen's products.
The chair of Clean Power Hydrogen will be Chris Train, who was chief executive officer of Cadent Gas Ltd and National Grid Gas Distribution Ltd.
By Tom Waite; thomaslwaite@alliancenews.com
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