9th Jan 2025 13:54
HydrogenOne Capital Growth PLC - fund investing in clean hydrogen companies - Shares jump after HydrogenOne says its portfolio company, German electrolysis firm Sunfire GmbH, has secured EUR200 million in guaranteed financing from a consortium of Commerzbank AG, Societe Generale SA, BNP Paribas SA, LBBW and Ostsachsische Sparkasse Dresden. Sunfire is HydrogenOne's largest holding at 25% of its net asset value.
The funding has a five-year term, with 80% of the loan secured by parallel default guarantees from the German Federal Government and the Free State of Saxony. The remaining 20% is provided by the banks themselves, to be used to secure customer advance payments more effectively and eliminate the need for Sunfire to provide cash collateral.
Current stock price: 25.26 pence, up 11% in London on Thursday afternoon
12-month change: down 54%
By Emily Parsons, Alliance News reporter
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