Browne Jacobson advises Clean Power Hydrogen on AIM admission
Browne Jacobson has advised on today’s (16 February 2022 - 8.00am) admission of the entire issued ordinary share capital of green hydrogen technology and manufacturing group, Clean Power Hydrogen to trade on AIM, a market operated by the London Stock Exchange plc.
Browne Jacobson has advised on today’s (16 February 2022 - 8.00am) admission of the entire issued ordinary share capital of green hydrogen technology and manufacturing group, Clean Power Hydrogen (“CPH2”) to trade on AIM (“AIM”), a market operated by the London Stock Exchange plc.
Doncaster-based CPH2, which was established in 2012, designs and manufactures hydrogen production units safely and sustainably. The business is known for its development of the IP-protected, cutting-edge Membrane-Free Electrolyser (“MFE”) which produces hydrogen faster, more reliably, and more cost-effectively than other electrolysers on the market.
Admission follows an over-subscribed Placing by Cenkos Securities plc (“Cenkos”). Cenkos is acting as the Nominated Adviser and sole broker in respect of the Admission.
The core Browne Jacobson team comprised London based corporate lawyer and consultant, Murdoch Currie who led on the deal with partner, Nigel Blackwell, along with senior associate, Harry Pearson and associate, Shania Sood. Additional support came from legal director, Beth Dowson and associate, Christian Burchardt (Nottingham, tax); senior associate, Nick Smee and associate Jess Johnson (Birmingham, IP and commercial) and Manchester based partner, Ian Deakin (employment).
This is one of more than ten instructions Browne Jacobson has received from rapidly growing CPH2.
Jon Duffy, Chief Executive Officer (CEO) of CPH2, commented: “Today’s admission and over-subscribed placing, delivered in difficult stock market conditions, is an important milestone for CPH2 and will assist the rapid growth of the Group. The funds raised will further strengthen the Group’s financial position and will enable CPH2 to build out our Doncaster manufacturing operation.
“I also want to thank Murdoch and the wider Browne Jacobson team for the strong and highly commercial advice they gave on this complex project. The team did everything they could to meet the critical timescales in place and made us feel like a number one priority.”
Murdoch Currie added: “We are delighted to have helped CPH2 continue with its highly ambitious future growth plans. The Group has gone from strength to strength in the last few years with its market leading electrolyser product and reputation for being a leader in the drive for clean energy. CPH2’s admission opens up a wealth of opportunities to the Group, including the chance to tap into the global green hydrogen economy. We are excited to see what their next move will be.”
Paul Hill, head of Browne Jacobson’s Energy & Infrastructure practice added: “It is fantastic to witness the rapid growth of CPH2’s profile over the last few years. They are at the forefront of the UK’s green hydrogen sector and are helping to shape the future green tech landscape and we are incredibly proud to have worked with them again on this important chapter in their business. This transaction demonstrates our credentials in the field of hydrogen which is playing an increasingly important role in the transition to sustainable energy and Browne Jacobson’s continued work in, and commitment to, driving forward the net zero agenda.”