HydrogenOne Capital Growth PLC on Monday reported a mildly higher net asset value in the quarter to June 30.

The London-based hydrogen technology investment fund said NAV per share rose 0.7% quarterly to 100.70 pence per share as at June 30, from 100.00p at March 31. It was up 4.0% from 96.83p a year prior.

HydrogenOne said the quarterly increase was mainly driven by valuation uplifts to its portfolio of private investments, which positively contributed 2.24p or 2.2% per share to its NAV movement between March 31 and June 30.

Looking ahead, the firm said: ‘The company has seen some £8 billion of industry investment in green hydrogen year-to-date, underscoring the positive industry outlook and supportive regulatory regimes for clean hydrogen.’

HydrogenOne Capital Growth shares rose 7.4% to 52.72 pence each on Monday morning in London.

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