First Hydrogen Corp. announced that its subsidiary First Hydrogen Limited signed a Research and Collaboration Agreement for an initial 5-year period with the University of Cambridge in the UK.
The collaboration will help unlock the hydrogen economy, focusing on the automotive industry, hydrogen production, and fuel distribution industries.
The University of Cambridge team will be led by Professor Seamus Higson of the Department of Chemical Engineering and Biotechnology. The department first developed the hydrogen fuel cell, which was subsequently used in the Apollo moon missions.
The initial project which the parties will develop is an AI software learning tool to harvest user and supplier information related to hydrogen usage to better inform hydrogen business cases and help direct the significant investments into hydrogen mobility and related infrastructure.
This dynamic tool is expected to generate additional revenues and give First Hydrogen a unique data advantage to help it develop its technology and infrastructure in the hydrogen sector.
Primorus Investment in Clean Power Hydrogen (CPH2)
Primorus Investments plc has invested £1,000,000 in the initial public offering (IPO) of Clean Power Hydrogen (CPH2) on AIM. CPH2 is a manufacturer of the membrane-free electrolyser used to create hydrogen and medical grade oxygen.
Primorus has agreed to subscribe for 2,222,222 shares at a price of £0.45 per share.
CPH2 has raised £30 million of new equity finance before expenses and fees which is intended to be used for working capital, supply chain development, global marketing, product development and factory development. Its market capitalisation on admission to trading on AIM will be around £120 million.
In the year ended 31st December 2020 CPH2 had a turnover of £107,000 and made a loss of £1,679,000.