Rocket man’s “green” hydrogen energy firm floats on AIM at £120m

A FORMER NASA expert today saw the green energy business he pioneered float on the London AIM market with a value of £120 million.

Dr Nigel Williamson was who Nasa turned to after the Challenger shuttle disaster in January 1986 when it broke apart seconds after launch.

As a hydrogen and oxygen seal expert he was credited with discovering the reason for the explosion – faulty seals in the rocket.

His CPH2 firm has raised £30 million from investors who believe in its hydrogen electrolyser invention which turns water into clean energy. Williamson was previously chief engineer at ITM Power.

Joe Scott, an early backer will have just under 15% of the company. Management and staff will share another 15%.

The float is a boost to London’s credentials as a green energy hub.

Jon Duffy, chief executive of CPH2, said:

“Today’s listing and over-subscribed placing, delivered in difficult stock market conditions, is an important milestone for CPH2 and will assist the rapid growth of the Group. CPH2 has an opportunity to penetrate an extremely fast-growing hydrogen market.”

Cenkos raised the money at 45p a share.