HydrogenOne has identified more than £500 million of potential investments after spending £103.2 million in the low-carbon sector to date.
Total net assets stood at £124.3 million at the end of the third quarter while cash reserves decreased £7.5 million from the previous quarter to £22.4 million, largely as a result of investing £8.4 million in offshore hydrogen and carbon dioxide (CO2) pipeline supplier Strohm Holding, along with sales on liquid equities and fund-related costs.
HydrogenOne reported a ‘stable performance’ despite macro economic headwinds, and significant weakening of sterling against the US dollar and Euro.
Simon Hogan, Chairman, said, “The company’s invested private businesses continued to make steady progress in the quarter. Additionally we were pleased to see further supportive investment and legislative changes in the hydrogen industry, driving the energy transition.”
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