Green hydrogen company H2PLT, founded by Sisco Sapena, files to go public on Spain’s BME Scaleup
News provided byH2PLT
Nov 20, 2023, 12:53 PM ET
MADRID, Spain, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Green hydrogen company H2PLT has officially filed its application to go public on BME Scaleup, the new trading segment of Spain's stock exchange.
The renewable energy company, founded by well-known entrepreneur Sisco Sapena, also founder and CEO of Lleida.net (BME:LLN) (EPA:ALLLN) (OTC:LLEIF), expects to raise around 15 million euros in the coming months and plans to ring the bell between December this year and January 2024.
According to Sapena, "Going public on BME Scaleup is a key step in our path towards growth and consolidation of a new ecosystem model in the field of green hydrogen."
H2PLT has developed a modular and replicable green hydrogen mini-generation ecosystem, which uses hydrogen as a reelectrification vector and in applications in electro-powered stations.
Its business model is based on the sale of hydrogen created by solar energy, its conversion into electricity during the night, and its sale to the wholesale market or through its own network of electro-power stations.
The company's Power-to-Power system allows green hydrogen to be converted into electricity through fuel cells.
The company focuses on promoting electrified mobility through "H2aX" applications and the development of small photovoltaic plants exclusively for green hydrogen generation.
It uses small PV farms and surplus solar electricity to produce green hydrogen by electrolysis, storing it and converting it into electricity when needed and cheaper.
H2PLT has built, in the past few months, one of the largest electric recharging stations in Spain at the El Pedernoso Solar Park, Cuenca, equipped with 24 connection points.
At El Pedernoso, the company owns 80 hectares in the Spanish province of Cuenca, with access to water and the capacity to house a total of 14 hydrogen mini-generation modules, with plans to produce up to 2.5 tons of hydrogen per day.
At full capacity, this facility will be able to generate 40 MW of electricity, enough to power more than 160,000 people per year.
H2PLT's application to list on BME Scaleup comes at a time when green hydrogen is being recognized globally as a key pillar of the energy transition and the fight against climate change.
"The production and use of green hydrogen will be fundamental to decarbonize key sectors of our economy such as transportation, industry, and power generation," said Sisco Sapena, CEO of H2PLT.
"Our goal is to be an important part of this energy and environmental transition by democratizing access to green hydrogen and its applications. The technology is already available, and our innovative business model will make this sustainable solution accessible to the most promising regions of Spain and Europe," he added.
Over the next five years, H2PLT will seek to raise 85 million euros over the next few years to expand its production capacity throughout Spain.
The energy company's seven-person team includes internationally renowned specialists in the field of fuel cells. The company seeks to expand its market reach and attract investors committed to ESG investment criteria.
Sisco Sapena is known for having founded the technology company Lleida.net, a European leader in the certified electronic signature industry, which holds more than 300 patents in more than 60 countries in the field of certified electronic signature, notification, and contracting. Lleida.net is currently listed on BME Growth in Madrid, Euronext Growth in Paris, OTCQX in New York, and Frankfurt.
BME Scaleup is a new segment aimed at growth companies, which aims to provide the necessary transparency to investors and simplify the incorporation requirements for companies. It was announced in July of this year.
In preparation for its listing, H2PLT has been advised by Solventis as a registered advisor and will be its liquidity provider.
Company Website: https://h2plt.energy/
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