REG - Hydrogen Cap Gwth - Portfolio Update - Bramble Energy Limited

Hydrogen Capital GrowthAnnouncement

06/11/2025 17:00

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RNS Number : 5613G  Hydrogen Capital Growth PLC  06 November 2025

 

LEI: 213800PMTT98U879SF45

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION

6 November 2025

 

Hydrogen Capital Growth plc

("HGEN" or the "Company")

Portfolio Update - Bramble Energy Limited

Hydrogen Capital Growth plc provides an update on Bramble Energy Limited
("Bramble"), a hydrogen fuel cell producer which is held within the Company's
portfolio.

In recent months, Bramble has been seeking investment from third party
investors. It has recently become apparent that Bramble's fundraising process
has been unsuccessful in securing new financing, without which the company is
unable to operate viably.

As such Bramble progressed to an accelerated sale process for its entire
business, which was run by an independent adviser. Whilst a number of parties
showed initial interest, the Bramble board of directors ("Bramble Board") see
no reasonable prospect of a solvent transaction. As such, the Bramble Board
has today filed notice to appoint an administrator.

The board of directors of HGEN is extremely disappointed at this outcome.
Despite Bramble having technology which was being assessed by Toyota, Bramble
has been unable to secure more attractive offers or funding.

HGEN holds c.12.5% of the equity of Bramble on a fully diluted basis, and has
no debt outstanding to Bramble. As at the Company's last reported net asset
value on 31 March 2025, HGEN's holding in Bramble was valued at £11 million
representing 9% of the Company's NAV. As a result of these developments, the
Company now expects the value of HGEN's holding in Bramble will be written
down to zero.

 

 

- Ends -

For further information, please contact:

  Redwheel, Investment Adviser                           Tel: +44 (0) 20 7227 6000
                                                         HGENInvestmentTrust@Redwheel.com (mailto:HGENInvestmentTrust@Redwheel.com)
 Shore Capital                                           Tel: +44 (0) 20 7601 6128

 Financial Adviser and Corporate Broker
 Gillian Martin / Anita Ghanekar / Matthew Walton (Corporate Advisory)

 Fiona Conroy (Corporate Broking)
 Burson Buchanan - Financial Communications              Tel: +44 (0) 20 7466 5000

 Henry Harrison-Topham / Henry Wilson / Nick Croysdill   HGEN@buchanancomms.co.uk (mailto:HGEN@buchanancomms.co.uk)

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014, as it forms part of UK domestic law ("MAR"). Upon
publication of this announcement, the inside information is now considered to
be in the public domain for the purposes of MAR. The person responsible for
arranging the release of this announcement on behalf of the Company is Helen
Coyne of Apex Fund Administration Services (UK) Limited, Company Secretary.

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