HydrogenOne plans London listing to invest in hydrogen projects

HydrogenOne Capital Growth plc said on Monday it plans to list on the London Stock Exchange to raise £250 million ($345.85 million) for investing in clean hydrogen projects.

HydrogenOne Capital was launched by JJ Traynor, a former Royal Dutch Shell executive, and Richard Hulf, who has worked at Exxon Mobil and been an energy fund manager at Artemis.

Hydrogen has long-been touted as a potential clean fuel as it only emits water vapor.

The company said it intends to 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 environment, social and governance (ESG) focus.

INEOS Energy has committed to buying shares worth £25 million as a cornerstone investor, the fund said.

The company said it expects to publish a prospectus shortly for the 100 pence per share offering on the LSE’s premium segment, and to close the issue by end July.

“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.