Clean energy investment firm HydrogenOne Capital Growth plans to list its shares on the London stock market and hopes to raise £250 million to invest in clean hydrogen projects. Hydrogen has long-been touted as a potential mass clean fuel as it only emits water vapour.
HydrogenOne Capital said it intends to provide exposure to the clean hydrogen theme through investing in a diversified portfolio of hydrogen and complementary hydrogen-focused assets to deliver capital growth with a strong environmental, social and governance focus, known for short as ESG.
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The company was launched by former Royal Dutch Shell (RDSB) executive JJ Traynor and Richard Hulf, who worked at Exxon Mobil and has been an energy fund manager at Artemis.
HydrogenOne will be backed by UK chemicals giant Ineos Energy, whose cornerstone investment will see it buy shares worth £25 million, the fund said.
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‘HydrogenOne is for energy investors who want to move beyond fossil fuels now, not later, and deploy substantial growth capital into the energy transition,’ Traynor said in a statement.
It will be the first UK-listed investment company to focus on hydrogen assets and exclude fossil fuel producers, the company said. A prospectus is expected to be published soon for the 100p per share offering on the London Stock Exchange’s premium segment, and to close the issue by the end of July.
