Oracle Power PLC (AIM:ORCP) announced it had appointed H&P Advisory Limited as a financial adviser and consultant to its potential green hydrogen project in Pakistan.
H&P, which is part of the Hannam & Partners group, will focus exclusively on the project, providing strategic advisory and financial services to help it realise its full potential to the benefit of Oracle’s stakeholders, according to a statement.
The natural resource developer adds that H&P’s work will be “integrated into the various workstreams which are underway between Oracle and various other partners,” such as buyers, suppliers and lenders.
"Our green hydrogen production project is entering its next phase of planning and development and I am delighted to announce the appointment of H&P who will support us on this journey,” said chief executive Naheed Memon.
“Green energy is at the forefront of governmental decision making and is part of the global conversation more than ever before.”
“Harnessing this emerging green fuel source will support the global transition towards a carbon-free future and also enable countries with significant renewable energy potential, such as Pakistan, to become competitive suppliers.”
Shares in Oracle climbed 2% to 0.3p.