Clean Power Hydrogen PLC - Doncaster, England-based green hydrogen technology and manufacturing company - Posts narrowed pretax loss in the half-year that ended June 30, and touts confidence in pipeline aiming to start production in England and Germany. Interim pretax loss narrows to £1.1 million from £2.1 million a year prior. As year ago, has no revenue nor cost of sales. Total administrative expenses decrease to £1.2 million from £2.1 million.
Looking ahead, company is optimistic. ‘The continued drive to net-zero combined with the current geo-political situation in Ukraine, has, in the view of the directors, increased the potential market for green hydrogen and the pace at which the technology will be deployed. ’
It added: ‘The company remains confident that its significant pipeline will start to transition to sales and we expect very positive cash inflows on future orders as they are taken. Production of these orders will be in Doncaster and Germany. Whilst the company is still planning to launch a 2 megawatt MFE440, final design work on this has been suspended until we have working MFE220’s in the field. The company is progressing the potential opening of a CPH2 run assembly plant in Northern Ireland.’
Current stock price: 43.60 pence, up 7.0% on Friday morning in London
12-month change: down 29%
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