Aspiring green hydrogen producer and electric mobility company H2PLT has formally submitted its application to list on BME Scaleup, Spain’s trading segment for emerging companies.
The Spanish firm said on Monday that it expects to raise around EUR 15 million (USD 16.4m) in the coming months and join Spain’s stock exchange between December 2023 and January 2024.
H2PLT specialises in building modular mini-generation setups that rely on solar power to produce hydrogen by day and convert it into electricity during the night. The firm will either sell the electricity to the wholesale market or use it through its own network of charging stations for electric vehicles (EVs).
Founded by Spanish entrepreneur Sisco Sapena in February 2022, H2PLT launched operations in early 2023. Over the past months, H2PLT has built an EV charging station with 24 chargers at the El Pedernoso solar farm in Cuenca province, east-central Spain.
The company says that it owns 80 hectares (197.7 acres) of land at El Pedernoso, where it has access to water and space to put up 14 hydrogen mini-generation modules. Its plan is to set up a 40-MW generation facility there and produce up to 2.5 tonnes of hydrogen per day.
H2PLT added that it will seek to raise EUR 85 million over the next five years to expand the production capacity throughout Spain.
(EUR 1.0 = USD 1.094)
Source: Renewables Now
