Clean Power Hydrogen looks to raise £50m via AIM flotation

Green hydrogen technology outfit Clean Power Hydrogen has announced its intention to list its shares on the London Stock Exchange's Alternative Investment Market.

Clean Power Hydrogen, which designs and manufactures hydrogen production units, intends to raise approximately £50.0m by way of a placing of new ordinary shares on admission, with Cenkos Securities being appointed as nominated adviser and sole broker.

The British firm said on Monday that the development of the hydrogen economy was forecast to lead to a 650x increase in European demand for electrolysers by 2030, with an EU electrolysis capacity target equivalent to 40 gigawatts.

CPH said in order to take advantage of this, it requires an investment of up to roughly €47.0bn towards electrolysers producing 10.0m tonnes per year of renewable hydrogen.

"The Group aims to become a globally recognised and highly-profitable designer, manufacturer and licensor of its MFE technology and is targeting 4GW production capacity by 2030. Meeting this target would be equivalent to a 10% market share of the projected EU market, albeit the group is aiming for traction with customers across the global marketplace, where required electrolyser capacity is estimated to reach 100GW within the same time frame," said the firm.