Backing for first listed fund dedicated to clean hydrogen

8 July 2021

HydrogenOne will receive significant financial support as a result of the sale of its shares. The company is a first listed investment fund dedicated to clean hydrogen.

United Kingdom: INEOS will purchase 25 million shares in the forthcoming IPO of HydrogenOne, representing 10% of the target fundraise of £250 million. INEOS will also have the right to appoint a non-executive director to the Board and will also have co-investment rights in projects identified by HydrogenOne.

HydrogenOne will provide access to clean hydrogen through investment in a diversified portfolio of hydrogen and complementary hydrogen focused assets to deliver capital growth with a strong sustainability focus. HydrogenOne is expected to qualify for the London Stock Exchange’s Green Economy Mark at admission, which recognises companies that derive 50% or more of their total annual revenues from products and services that contribute to the global green economy. HydrogenOne will predominantly invest in private hydrogen assets, and also include hydrogen focused listed assets from global markets.

Read more: First listed investment fund dedicated to clean hydrogen

INEOS is uniquely placed to support these new opportunities, driven by emerging demand for affordable zero-carbon energy sources. It is currently Europe’s largest producer of hydrogen, making around 400,000 tonnes of hydrogen a year mainly as a co-product from its chemical manufacturing operations. It is also Europe’s largest existing operator of electrolysis, the critical technology to produce hydrogen for power generation, transportation, and industrial use.

Brian Gilvary, Executive Chairman of INEOS Energy said, “The INEOS investment in HydrogenOne will help to accelerate and diversify INEOS’ existing clean hydrogen strategy. It marks the beginning of another substantial and long-term partnership, opening new windows into the clean hydrogen world for INEOS. It presents an important opportunity for our businesses as the market for clean hydrogen unfolds.”

Author: KS / Source: Ineos / Photo: Unsplash