Actualización sobre HH2E
LEI: 213800PMTT98U879SF45
18 de abril de 2024
HydrogenOne Capital Growth plc
("HydrogenOne" o la "Compañía")
Actualización sobre HH2E
HydrogenOne Capital Growth plc, the first London-listed fund investing in clean hydrogen for a positive environmental impact, reports an update from the Company's portfolio holding HH2E AG ("HH2E"), a green hydrogen project developer in Germany.
HH2E is backed by HydrogenOne and Foresight Group ("Foresight"), comprising an investment in HH2E itself, and separately into project-specific Special Purpose Vehicles ("SPVs") managed by HH2E. The Company has invested alongside Foresight in the Thierbach SPV ("Thierbach"), and Foresight has also invested in the Lubmin SPV ("Lubmin"). In addition, HydrogenOne and Foresight together have development rights on a further four green hydrogen project SPVs, through their investment in HH2E.
The Company has now signed agreements, subject to customary completion, alongside Foresight and other investors in HH2E, to streamline the HH2E business, ahead of upcoming external funding rounds to bring green hydrogen projects into production.
Accordingly, the investment rights in all six green hydrogen project SPVs will be exchanged for HH2E equity, in a non-cash transaction for the Company. In addition, the Company's previously announced development loan to Thierbach, of which £1.9 million has been drawn, will be reduced to £0.7 million, through a swap for equity in HH2E (together the "HH2E Transaction"). The Company's resulting equity share of HH2E is unchanged, at around 11%, on an enlarged asset base with a simpler corporate structure.
The HH2E Transaction also provides the Company with exposure to an additional green hydrogen project, Lubmin, which is progressing towards its Final Investment Decision. The project is currently expected to be for 100MW input power, producing 7,000 tonnes per annum of REDII-compliant green hydrogen from 2026.
At 31 December 2023, the Company's investment in HH2E and Thierbach represented 6% of the Company's NAV. The Investment Adviser expects that the HH2E Transaction will be accretive to the Company's valuation of HH2E as projects move into development.
El Dr. JJ Traynor, socio director de HydrogenOne Capital LLP, asesor de inversiones de la empresa, comentó: "With these changes, HH2E has the platform to attract material new capital and scale the business, to become one of Europe's largest producers of green hydrogen and support the energy transition away from traditional fossil fuels. The restructuring also offers HydrogenOne exposure to the promising Lubmin project, which is an exciting development for our shareholders."
Alexander Voigt, co-founder and CEO of HH2E, commented: "In anticipation of our upcoming external investment round, we encountered an exceptionally high number of expressions of interest from both financial and industrial investors. The prevailing sentiment favoured a simpler corporate structure and a larger business size, necessitating the now-completed consolidation. Our forthcoming objective is to declare FID for our HH2E-Werk Lubmin and to initiate the Series B investment round for HH2E AG. We extend our deepest appreciation to Foresight Group and HydrogenOne for their steadfast support since our Series A investment round and their continued belief in our vision."
- Termina -
Notas
Para más información, visite www.hidrogenonacapitalgrowthplc.com o contacte:
HidrogenoOne Capital LLP - Asesor de Inversiones | +44 20 3830 8231 |
JJ Traynor / Richard Hulf / Eva Bezruchko | |
Barclays Bank PLC - Corporativo Broker Dion Di Miceli Estuardo Muress James Atkinson |
+44 20 7623 2323
|
Buchanan Communications - relaciones públicas financieras Henry Harrison-Topham henry wilson Jorge Beale
|
Tel: + 44 (0) 20 7466 5000 Email: GME@dhr-rgv.com |
Acerca de HydrogenOne:
HydrogenOne es el primer fondo de hidrógeno que cotiza en Londres que invierte en hidrógeno limpio para lograr un impacto ambiental positivo. La Compañía se lanzó en 2021 con el objetivo de inversión de ofrecer un nivel atractivo de crecimiento de capital mediante la inversión en una cartera diversificada de hidrógeno y activos complementarios centrados en el hidrógeno. INEOS Energy es un inversor estratégico en HydrogenOne. La Compañía cotiza en el mercado principal de la Bolsa de Valores de Londres (código de cotización: HGEN). La Compañía es un fondo de impacto climático del Artículo 9 con una política ESG integrada en las decisiones de inversión y el seguimiento de activos.
El asesor de inversiones de la empresa, HydrogenOne Capital LLP (FRN: 954060), es un representante designado de Thornbridge Investment Management LLP (FRN: 713859), que está autorizado y regulado por la Autoridad de Conducta Financiera.
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