HFI Hydrogen Future Industries PLC

 
TIDMHFI 
 
16 January 2023 
 
                        Hydrogen Future Industries plc 
 
                           ("HFI" or the "Company") 
 
                 Investment in Tower Group and Issue of Equity 
 
HFI to Become Preferred Technology Partner for UK-Based Hydrogen Company 
 
Hydrogen Future Industries plc (AQSE:HFI), a developer of proprietary 
wind-based green hydrogen production systems, is pleased to announce an 
investment in, and collaboration with, Tower Green Holdings Limited ("Tower"), 
a developer of hydrogen production and distribution facilities which is 
establishing multipurpose hydrogen hubs in the southwest of England to provide 
energy storage and hydrogen as a fuel. Under the agreement, HFI's System (as 
defined below), which is in development, will be implemented as Tower's 
preferred green hydrogen production technology. 
 
HFI has made an initial investment of £100,000 in Tower for a 20% equity stake 
in Tower, £50,000 of which has been paid in cash and £50,000 has been settled 
by the issue of 500,000 new ordinary shares in HFI at a price of 10p per share 
("Investment Shares"). Daniel Maling, Non-executive Director of the Company 
will join the board of Tower as part of this partnership. In addition, HFI has 
the right to invest a further £50,000 in Tower upon Tower signing an agreement 
to collaborate with certain specific project partners for an additional 10% 
equity stake in Tower. 
 
On 4 January 2023, a partnership was announced between Tower and Element 2 
Limited, a UK-based developer of hydrogen refuelling stations and a retailer of 
hydrogen fuel to fleet operators and other consumers, whereby Tower will 
provide access to hydrogen for road transport in the southwest of England. The 
partnership connects Tower's locally produced green hydrogen with the 
infrastructure required to supply fuel to hydrogen-powered trucks and haulage 
vehicles. 
 
HFI's technology in development is a wind-based hydrogen production system 
combined with electrolyser technologies which aims to generate hydrogen for 
under $2 per kilogram (the "System"). A key element of the System is its 
proprietary wind turbine, which has been designed with notably distinct 
features which allow the turbines to be more efficient than current open rotor 
turbines and could increase the efficiency and ultimately lower the cost of 
hydrogen production for future partners such as Tower. 
 
Admission 
 
Application has been made for the 500,000 Investment Shares to be admitted to 
trading on the Aquis Stock Exchange Growth Market ("Admission"). Admission is 
expected to occur at 8:00 am on or around 20 January 2023. 
 
Total Voting Rights 
 
Following Admission, the Company's issued share capital will comprise 
33,750,000 ordinary shares, with each share carrying the right to one vote. 
 
Therefore, the total number of voting rights in the Company will be 33,750,000. 
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. 
 
David Ormerod, Executive Director of HFI, commented: 
 
"HFI's System aims to produce affordable green hydrogen and so is well placed 
to support companies like Tower as they develop downstream infrastructure and 
partnerships to get hydrogen into vehicles and support the decarbonisation of 
transport. Through this agreement, not only are we gaining early investment 
exposure to the massive growth opportunity in hydrogen refuelling which is 
analogous to the rollout of EV charging infrastructure over recent years, we 
are also supporting Tower's ambition to become a vertically integrated green 
hydrogen producer and distributor in the UK." 
 
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. 
 
Enquiries: 
 
Hydrogen Future Industries plc 
 
Daniel Maling                               +44 (0)20 3475 6834 
David Ormerod 
 
Vigo Consulting (Investor Relations) 
 
Ben Simons                                  +44 (0) 20 7390 0230 
 
Peter Jacob 
 
Cairn Financial Advisers LLP (AQSE 
Corporate Adviser) 
 
Ludovico Lazzaretti                         +44 (0) 20 72130 880 
Liam Murray 
 
Peterhouse Capital Limited (Broker) 
 
Duncan Vasey                                +44 (0) 20 7469 0930 
 
About Hydrogen Future Industries 
 
Hydrogen Future Industries was established to invest in projects and companies 
focused on the Hydrogen Economy. We are developing proprietary wind and 
water-based hydrogen production systems, incorporating hydrogen compression and 
storage. 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 
 
About Tower 
 
Tower is a developer of hydrogen production and distribution facilities based 
in the southwest of England. The company is developing a number of multipurpose 
hydrogen hubs which provide long-term energy storage as well as hydrogen as a 
fuel and chemical feedstock. Tower is also developing bespoke end-to-end 
hydrogen systems for businesses in the hard to abate sectors. Tower is 
committed to reducing the South West's reliance on fossil fuels and supporting 
its leading role in the UK's drive towards Net Zero. 
 
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. 
 
 
 
END 
 
 

(END) Dow Jones Newswires

January 16, 2023 02:00 ET (07:00 GMT)

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