The first commercial wind farm went into operation in the United States almost half a century ago in 1975. Despite all the enthusiasm for renewable energies, wind and solar energy still accounted for less than 3% of the world's energy supply before the pandemic. About 80 percent of the remainder comes from "dirty" fossil fuels (oil, gas and coal) and the proportion has barely changed since the 1970s.
As governments around the world aim for net carbon emissions by 2050, something has to change. The focus is still on wind and solar energy, supplemented by hydropower, but there is another big player in the game of clean energy: hydrogen.
Hydrogen has been used for years to power industrial processes, from steelmaking to oil refining. It's made from fossil fuels, is known as "gray" hydrogen, and the market tops 120 billion pounds a year. But gray hydrogen produces a lot of greenhouse gases - 830 million tons a year, about double the UK's total annual emissions.
Big ambition: HydrogenOne Capital invests in hydrogen to supply aircraft, ships and trains with clean fuel
However, new methods are now being developed to produce hydrogen without polluting the planet. Blue hydrogen follows the same process as gray hydrogen, but carbon is captured and stored. Green hydrogen is made from water, with electricity from wind or solar power, and new ideas are being developed, including hydrogen from waste.
The potential of this "clean" hydrogen is immense. It can replace gray hydrogen in industrial processes. It works without diesel generators and can power trains, buses and trucks, even planes and ships.
Overall, clean hydrogen is expected to account for 10% of the world's energy over time, with demand expected to grow 20-fold in the next decade alone. But this future source of energy needs cash as hundreds of companies and projects locally look for capital to grow and expand.
HydrogenOne Capital was created to meet this need and to deliver juicy returns to shareholders along the way.
The company plans to go public later this month, offering shares at £ 1 each, and hopes to raise £ 250 million, with further expansion likely in the years to come. Shares can be requested through intermediaries such as AJ Bell, Hargreaves Lansdown and Interactive Investor or directly through the prospectus on the HydrogenOne website.
36 potential investments have already been identified and the group expects to have invested all the funds raised in the next listing within 12 to 18 months.
In order to offer as much variety as possible, HydrogenOne is researching possibilities worldwide and intends to acquire stakes in listed companies, established private companies and even individual projects. The first publicly traded clean energy fund,
HydrogenOne is led by two energy industry veterans, JJ Traynor and Richard Hulf, who have combined more than 60 years of experience advising and working for major oil and gas companies such as BP, Shell and Exxon.
Traynor has a PhD in Geology from the University of Cambridge and Hulf has a Masters in Petroleum Engineering from Imperial College. Therefore, they combine academic and industrial experience and have built an enviable network of contacts over the decades. Today Traynor and Hulf don't just want to make the world greener. They also want to make money and aim for 10-15% annual growth from 2023 onwards.
Regular dividends are not expected, but there may be one-off payments in the future as the holdings will be sold. However, HydrogenOne's primary focus is capital appreciation - buying companies, growing them, and taking that expansion into account in the share price.
Encouragingly for individual investors, chemical giant Ineos agreed to buy £ 25 million worth of shares in the program in hopes of using increasing amounts of hydrogen, blues and greens to reduce its own carbon footprint.
Midas Verdict: Clean Hydrogen is one of the fastest growing sectors in the green energy market and is expected to be worth at least 600 billion large companies by 2040 and also offer returns for investors. The two know what they're doing, are well connected, and each invest £ 100,000 of their own money in the program. An attractive long-term purchase.
For trading on: Main Market Contact: Hydrogenonecapitalgrowthplc.com or 020 4513 9260 Ticker: HGEN
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