Leading developer of proprietary wind-based green hydrogen production systems Hydrogen Future Industries has unveiled an investment in and collaboration with Tower Green Holdings Limited, to provide energy storage and hydrogen as a fuel. Under the agreement, HFI’s system, which is in development, will be implemented as Tower’s preferred green hydrogen production technology.HFI has made an initial investment of GBP 100,000 in Tower for a 20% equity stake, GBP 50,000 of which has been paid in cash and GBP 50,000 has been settled by the issue of 500,000 new ordinary shares in HFI at a price of 10p per share. In addition, HFI has the right to invest a further GBP ll0,000 in Tower upon it signing an agreement to collaborate with certain specific project partners for an additional 10% equity stake in Tower.A non-executive director of HFI, Daniel Maling, will join the board of Tower as part of the partnership.Tower is a developer of hydrogen production and distribution facilities which is establishing multipurpose hydrogen hubs in the southwest of England.
Leading developer of proprietary wind-based green hydrogen production systems Hydrogen Future Industries has unveiled an investment in and collaboration with Tower Green Holdings Limited, to provide energy storage and hydrogen as a fuel. Under the agreement, HFI’s system, which is in development, will be implemented as Tower’s preferred green hydrogen production technology.HFI has made an initial investment of GBP 100,000 in Tower for a 20% equity stake, GBP 50,000 of which has been paid in cash and GBP 50,000 has been settled by the issue of 500,000 new ordinary shares in HFI at a price of 10p per share. In addition, HFI has the right to invest a further GBP ll0,000 in Tower upon it signing an agreement to collaborate with certain specific project partners for an additional 10% equity stake in Tower.A non-executive director of HFI, Daniel Maling, will join the board of Tower as part of the partnership.Tower is a developer of hydrogen production and distribution facilities which is establishing multipurpose hydrogen hubs in the southwest of England.
