Clean Power Hydrogen PLC (AIM:CPH2), which designs and makes membrane-free electrolysers for the commercial production of green hydrogen, has set out plans to float on London’s AIM market.
The Doncaster-based company hopes to raise £50mln by a placing of new ordinary shares.
“The new capital raised from a listing on AIM will position the group well to become a globally recognised and highly profitable designer, manufacturer and licensor of the membrane free electrolyser with at least a 4GW production capacity by 2030,” chief executive John Duffy said.
With a contracted orderbook of 4MW worth of units for delivery in 2022, Clean Power Hydrogen says its flexible routes into the market, high calibre customer base and a quickly growing green energy market make it an attractive proposition to any potential investors.
It also claims that by not requiring a membrane in its electrolysers, its MFE units have a reduced risk of failure and downtime for maintenance purposes and reduced production costs.