Global law firm K&L Gates guided Clean Power Hydrogen plc (CPH2), the UK-based green hydrogen technology and manufacturing company that has developed the IP-protected Membrane-Free Electrolyser, on a successful £7.4 million fundraising. The transaction involved a placing, subscription, and an oversubscribed retail offer, resulting in the issue of approximately 147.6 million new ordinary shares. In January, K&L Gates advised CPH2 on a £6.3 million fundraising with proceeds helping to accelerate the commercialization of its proprietary green hydrogen technology.
The London-based deal team was led by Corporate partner James Green with support from senior associate Robert Boughey and trainee solicitor Charles Lush.
Green commented: “We were delighted to have advised CPH2 on its second successful fundraising this year. The latest proceeds will enable the company to fund its working capital requirements through to the Site Acceptance Test of its first commercial MFE220 unit and to accelerate commercial pipeline growth and drive new product sales.”
K&L Gates’ Corporate practice is one of the most substantial in the legal industry, with hundreds of lawyers in offices on five continents providing clients with practical legal solutions in the structuring, financing, and completion of domestic, international, and cross-border transactions.