CPH2 raises £7.3M to pivot from manufacturing to licensing
What's the deal? Doncaster-based green hydrogen company Clean Power Hydrogen (CPH2) has raised approximately £7.3m in gross proceeds through a post-IPO equity fundraising to fund its shift away from manufacturing toward a capital-light licensing model.
The fundraising comprised a £2.54m firm placing of 169.3 million new shares (admitted to AIM on 7 July 2026), a £0.46m conditional placing of 30.7 million shares, a directors' subscription of £10,000, a conditional subscription by clients of West Hill CapitalDealroom has a profile for this one. Try Dealroom → of up to £4.0m, and a retail offer targeting at least £0.5m — all at 1.5 pence per share.
Shareholders approved the resolutions at a general meeting on 20 July 2026, with the remaining 318.3 million new shares admitted to trading on AIM on 22 July 2026. The new shares represent approximately 49.3% of the enlarged share capital of 989.6 million shares.
Why now? In May 2026, CPH2's 1MW MFE220 unit suffered an incident during testing that caused significant equipment damage. On 22 June 2026, the company decided to cease manufacturing and pivot to licensing its patented membrane-free electrolyser technology through partnerships and manufacturing agreements.
What could go wrong? CPH2 reported a £7.1m loss for the year ended 31 December 2025. The pivot bets on partners adopting its technology at scale — a model that depends on securing licensing deals rather than controlling its own production.
The signal: The successful fundraising, with existing shareholder West Hill Capital's clients contributing up to £4m, suggests continued conviction in the underlying intellectual property, even as the company retreats from controlling its own production.
Read more: Investegate (RNS) · Insider Media · Investegate (Proposed Fundraising)
