Advent Technologies, the Boston-based fuel cell and hydrogen tech firm, has entered into securities purchase agreements with investors to purchase 10m shares of common stock in a registered direct offering at a per share purchase price of $0.20, according to a news release.
The transaction, generating gross proceeds of $2m, is expected to close before the end of the year. Joseph Gunnar & Co. is acting as the exclusive placement agent for the offering.
Connecticut-based FuelCell Energy will pursue electrolyzer projects in South Korea through a partnership with Korea Hydro & Nuclear Power Co.
KBR has been awarded a technology contract by Tecnimont S.p.A. for OCI NV’s low-carbon blue ammonia project in Texas.
An offer to acquire all of the outstanding shares of common stock of Heliogen for cash consideration of $0.40 per share was rejected by the company’s board of directors.
Cumberland, a managing partner with EnCap Energy Transition, discusses how the clean fuels sector compares to the emergence of other new energy technologies, and outlines the firm’s wait-and-see approach to investment in hydrogen and other clean fuels.
A Washington, DC-based hydrogen developer has hired an advisor to raise equity for three projects in California, and is laying the groundwork for a second capital raise in the EU.
Advisors selling up to 50% of the company’s US onshore renewables platform are pitching the value-enhancing potential of green hydrogen development in the process.
