Hydrogen Capital Growth Logo Ltd - COLOUR

Hydrogen Capital Growth Ltd. is a private limited company, which, prior to delisting on 30 April 2026, was listed on the London Stock Exchange, and whose ordinary shares were traded as an investment trust domiciled in the United Kingdom as (LSE:HGEN)

Overview

Please note Hydrogen Capital Growth Ltd announced on July 30 2025 a proposed change of investment policy to that of a managed realisation strategy. Subsequently, following a shareholder vote to approve the delisting, the Company’s Ordinary Shares were cancelled from trading on the Main Market on 30 April 2026 and the Company was re-registered as a private limited company. Further details can be found in the Circular. New Articles adopted can be found here. Shareholders who own private shares and wish to trade can do so via a Matched Bargain Facility.

Matched Bargain Facility

A platform that connects buyers and sellers of unlisted securities, providing liquidity and trading opportunities for shareholders.

For news relating to Hydrogen Capital Growth Ltd you can visit: HYDROGENONE CAPITAL GROWTH PLC HGEN Analysis – Stock | London Stock Exchange

Key Statistics (as at 31 December 2025)

Net asset value (NAV)

£39.3m

NAV per share

30.54p

Literature Archive

Please note the name of the Trust changed and a new investment adviser was appointed on 30 July 2025.

Historic documents relating to the Trust will include reference to the previous investment adviser and the Trust’s previous branding.

Factsheets , Presentations and Updates

Annual and Interim Reports

For further RNS news relating to Hydrogen Capital Growth plc you can visit:  HYDROGENONE CAPITAL GROWTH PLC HGEN Analysis – Stock | London Stock Exchange

Sustainability

HGEN is an SFDR Article 9 impact fund with a sustainable investment objective aligned with the climate change mitigation goal of the EU Taxonomy. 

EU Sustainable Finance Disclosure Regulation (“SFDR”) and EU Taxonomy Regulation (“EU Taxonomy”)

As part of the requirements the Company has published the following disclosures which outline how the Company aligns with the regulation and Article 9 classification:

Portfolio

All portfolio information is as at 31 March 2025.

Portfolio segmentation by geography

Portfolio segmentation by theme

Portfolio segmentation by asset class

Private investments as at 31 March 2025

All investments

Company Name
Company Description
Amount invested
Date Invested
% of NAV (as at 31.03.25)
Portfolio Theme
Sunfire GmbH
German industrial electrolyser producer of pressure alkaline (AEL) and solid oxide electrolyser
£20m
October 2021
28%
Supply chain
HiiROC Limited
UK-based thermal plasma electrolysis developer with world-leading (IP-protected) technology for low-cost, zero-emission hydrogen also enabling flare/waste gas mitigation and CO2 capture using biomethane
£10m
November 2021
19%
Supply Chain
Elcogen AS
Solid oxide fuel cell and electrolyser manufacturer with presence in Estonia and Finland
£20m
May 2022
17%
Supply Chain
Cranfield Aerospace Solutions Ltd
UK-based passenger flight innovator, powering turboprop flight with hydrogen
£12m
March 2022
13%
Hydrogen Applicators
Strohm Holding B.V.
Netherlands-based hydrogen pipeline company
£11.6m
August 2022 December 2022
12%
Storage and Distribution
Bramble Energy Limited
UK-based fuel cell and portable power solutions company
£10m
February 2022
9%
Supply Chain
Swift Hydrogen
Developer of low-cost mobile hydrogen refuelling equipment for a zero-emission transportation sector
£9.05m
December 2021
<1%
Storage and Distribution

The charts and above show the fund portfolio at 31 March 2025. Private Hydrogen Assets are valued in accordance with the valuation methodology at each period end. The Portfolio themes presented are for illustrative purposes only and should not be relied upon.

Directors

Simon Hogan 

Chairman 

Simon brings significant capital markets, legal and management experience to the Board.

Former Managing Director of  Morgan Stanley and COO across Commodities, Fixed income and Equity divisions. Multiple board positions and member of the FCA Practitioners committee.

Abigail Rotheroe

 

Abigail has over twenty years of investment experience most recently as Investment Director at Snowball Impact Management, a sustainable and impact focussed asset manager.

Abigail was a Director of Threadneedle Investment, following positions at HSBC Asset Management and Schroders and has experience of institutional and retail investment.

Ms Rotheroe is a non-executive director of Baillie Gifford Shin Nippon plc, Templeton Emerging Markets Investment Trust plc and Greencoat UK Wind plc.
Abigail also brings knowledge of fund governance, manager selection and impact measurement

Afkenel Schipstra

 

Afkenel is Chair of the Audit & Risk Committee and the Valuation Committee. Afkenel is Director, Hydrogen at Copenhagen Infrastructure Partners MT, a project development company which is wholly owned by Copenhagen Infrastructure Partners. 

She was project director for Uniper H2Maasvlakte 500 Mwe and ENGIE HyNetherlands 100-1850 Mwe green hydrogen projects.

Afkenel was previously SVP of Hydrogen Business Development for the Netherlands at ENGIE, and held senior positions at Gasunie, Shell and NAM.

She has delivered hydrogen, heating and oil & gas projects in the Netherlands and world-wide.

 

Erik Magnesen

 

Erik is the CFO of INEOS Energy Europe

He has over twenty years of experience ranging from audit and advisory business, to various senior finance positions in the oil service industry. The last 10 yrs he has been CFO within the upstream oil and gas industry

Erik has a finance degree from the Norwegian school of economics.

Advisers

Apex Listed Companies Services (UK) Limited

Registered Office:

140 Aldersgate Street

London

EC1A 4HY

Alternative Investment Fund Manager (AIFM)

Global Fund Management Services Limited

Les Echelons Court

Les Echelons,

St Peter Port

Guernsey

GY1 1 AR

Broker

Shore Capital

57 St James’s St, London SW1A 1LD

Investment Manager

RWC Asset Management LLP (Redwheel)

Verde, 10 Bressenden Place, London SW1E 5DH

[email protected]

Custodian

The Northern Trust Company

50 Bank Street

Canary Wharf

London

E14 5NT

Legal Adviser

Gowling WLG (UK) LLP

4 More London Riverside

London

SE1 2AU

Registered Auditor

KPMG Channel Islands Limited

Glategny Court

Glategny Esplanade

Guernsey

GY1 1WR

Registrar

Computershare Investor Services PLC

The Pavilions

Bridgwater Road

Bristol

BS13 8AE

 

Financial PR Adviser 

Burson Buchanan

107 Cheapside

London

EC2V 6DN

[email protected]

 

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