Issue of Equity and Warrants

5 October 2023

Hydrogen Future Industries plc

("HFI" or the "Company")

 

Issue of Equity and Warrants

 

Hydrogen Future Industries plc (AQSE: HFI), a developer of a proprietary wind-based green hydrogen production system featuring an advanced aerodynamic wind turbine and a high-performance electrolyser, announces the issue of 1,750,000 new ordinary shares at a price of 10 pence per new ordinary share ("Deferred Consideration Shares") and warrants over 875,000 new ordinary shares with an exercise price of 12 pence per new ordinary share (which can be exercised immediately and will expire three years from the date of issue) as the second tranche of consideration payable to the vendors of various patents acquired by the Company as announced on 5 October 2022.

 

The Deferred Consideration Shares are subject to a 12-month lock-in agreement from the date of issue.

 

Daniel Maling, Executive Director of HFI, commented:

 

"We at HFI are pleased to have completed the deferred component of the IP acquisition at an effective share price of 10 pence. The suite of international patents are derived from over 12 years of valuable research by Tim Blake including the key aspects of our novel green hydrogen production system.

 

"The wind turbine component, which had previously demonstrated increased energy generation of over 300% in wind tunnel testing, is now delivering similar performance data in Montana where we have installed a 1 metre prototype.

 

"Tim and the team have been busy adjusting our wind turbine hardware in varying weather conditions in Montana; whilst Dr Nicholas Blake is advancing our development of the Anion Exchange Water Membrane electrolyser, which is free from costly platinum group metal catalysts, in California. With both the turbine and electrolyser testing proving positive, and our IP secured, we are focusing on accelerating our partnering discussions and commercialisation pathways."

 

Admission

 

Application has been made for the 1,750,000 Deferred Consideration Shares to be admitted to trading on the Aquis Stock Exchange Growth Market ("Admission"). Admission is expected to occur on or around 11 October 2023.

 

Total Voting Rights

 

Following Admission, the Company's issued share capital will comprise 49,500,000 ordinary shares, with each share carrying the right to one vote. Therefore, the total number of voting rights in the Company will be 49,500,000. This figure may be used by shareholders as the denominator for calculations by which they will determine if they are required to notify their interest in the Company, or a change to their interest in the Company, under the Financial Conduct Authority's Disclosure Guidance and Transparency Rules.

 

Enquiries:

 

Hydrogen Future Industries plc

 

Daniel Maling, Executive Director

+44 (0)20 3475 6834

 

 

Vigo Consulting (Investor Relations)

 

Ben Simons

+44 (0) 20 7390 0230

Peter Jacob

 

 

 

Cairn Financial Advisers LLP (AQSE Corporate Adviser)

 

Ludovico Lazzaretti

Liam Murray

+44 (0) 20 72130 880

 

 

Peterhouse Capital Limited (Broker)

 

Duncan Vasey

+44 (0) 20 7469 0930

 

Inside Information

This announcement contains inside information for the purposes of the UK Market Abuse Regulation and the Directors of the Company accept responsibility for the contents of this announcement.

 

About Hydrogen Future Industries

Hydrogen Future Industries was established to invest in projects and companies focused on the Hydrogen Economy. We are developing a proprietary wind-based hydrogen production system, featuring an advanced aerodynamic wind turbine and a high-performance electrolyser. Through this technology, we aim to significantly reduce the cost of hydrogen production from renewable sources and provide on-demand energy storage in the form of hydrogen at a fraction of the cost of lithium-ion battery storage. Click here for more information about Hydrogen Future Industries.  

 

Visit our website: www.hydrogenfutureindustries.com

Follow us on social media:

LinkedIn: @Hydrogen Future Industries

Twitter: @HydrogenFI

 

Caution Regarding Forward Looking Statements

 

Certain statements made in this announcement are forward-looking statements. These forward-looking statements are not historical facts but rather are based on the Company's current expectations, estimates, and projections about its industry; its beliefs; and assumptions. Words such as 'anticipates,' 'expects,' 'intends,' 'plans,' 'believes,' 'seeks,' 'estimates,' and similar expressions are intended to identify forward-looking statements. These statements are not a guarantee of future performance and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company's control, are difficult to predict, and could cause actual results to differ materially from those expressed or forecasted in the forward-looking statements. The Company cautions security holders and prospective security holders not to place undue reliance on these forward-looking statements, which reflect the view of the Company only as of the date of this announcement. The forward-looking statements made in this announcement relate only to events as of the date on which the statements are made. The Company will not undertake any obligation to release publicly any revisions or updates to these forward-looking statements to reflect events, circumstances, or unanticipated events occurring after the date of this announcement except as required by law or by any appropriate regulatory authority.

 




UK 100

Latest directors dealings