The fundamentals of the low-carbon hydrogen sector remained strong through the first half of this year despite weak macroeconomic conditions, and the outlook for the industry is favourable, London-listed investment company HydrogenOne Capital Growth says in its H1 earnings statement.

The company says it has a pipeline of potential private clean hydrogen investments of more than £500mn ($567mn), including £100mn of near-term projects.

“Overall, despite the uncertainty of the current economic environment, we remain confident that the company is investing in a sector with a favourable outlook and believe in its growth potential as illustrated by the strength of our current pipeline of private clean hydrogen investments,” says chairman Simon Hogan.

“We continue to see strong support for the energy transition from governments around the world and view the policy focus in this area as a catalyst for further growth. With this support and investment, there has been an increase in the size and scale of hydrogen projects,” he adds.

HydrogenOne invested in five private hydrogen assets in the first half of 2022, deploying capital of £46.1mn. Investments included £10mn in UK fuel-cell company Bramble Energy, £20.5mn in Estonia-based solid-oxide fuel cell and stack specialist Elcogen, and £5.1mn in German green hydrogen developer HH2E.

In total, HydrogenOne has invested £126mn in eight private and 19 stock exchange listed companies in the clean hydrogen sector.

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Author: Stuart Penson