CPH2 completes first external investment round
The Directors are pleased to announce the successful completion of Clean Power Hydrogen’s (CPH2) first round of equity funding from external sources.
Previously the business has been exclusively funded by the founding directors/shareholders. A total of £450,000 was raised by West Hill Capital Ltd, acting on behalf of Clean Power Hydrogen Group Limited, the holding company for the Clean Power Hydrogen Group of Companies. Incoming investors took advantage of the Government’s SEIS and EIS schemes, which provide tax incentives for investors to encourage early stage investment in UK domiciled businesses.
Clive Brook, Chairman, said “Clean Power Hydrogen is committed to energy storage and emissions reduction in the electricity, gas and transport sectors. I am very pleased that Clean Power’s business philosophy of providing alternative energy solutions avoiding the use of carbon has met with such an enthusiastic response from investors. The commercial exploitation of hydrogen as an environmentally friendly energy source is at the core of the Group’s philosophy, and the Board is excited at the ground-breaking opportunities its technologies are capable of delivering”
Robert Caie, Managing Partner of West Hill Capital said “We are delighted to be working with the Clean Power Hydrogen team and look forward to the first commercial applications of their device. We envisage that the recently completed small round of equity will be a prelude to a larger raise next year in conjunction with the anticipated demand for their technology.”
