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BPH Energy (ASX: BPH) increases stake in Clean Hydrogen to 15.6% - Kalkine Media

October 11, 2023 04:18 PM AEDT | By Manisha
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Highlights

  • In 2022, BPH Energy and its 36.1% investee Advent Energy acquired 10% interest (8% BPH and 2% Advent) in Clean Hydrogen Technologies Corporation for US$1,000,000.
  • BPH and Advent inked a Loan Conversion Agreement with Clean Hydrogen.
  • With this agreement, BPH and Advent have won additional 9.5% interest in the hydrogen technology company.

ASX-listed BPH Energy Limited (ASX: BPH) has updated on the latest development concerning investment in Clean Hydrogen Technologies Corporation.

BPH and its 36.1% investee Advent Energy Ltd agreed to acquire a 10% interest (8% BPH and 2% Advent) in Clean Hydrogen Technologies for US$1 million in July 2022.

The development followed unanimous voting by shareholders at a shareholders’ meeting conducted in June 2022 to approve the investment in Clean Hydrogen.

Now, BPH Energy holds total 15.6% interest with 2,628 shares in Clean Hydrogen, while Advent owns total 3.9% interest with 656 shares in the company.

Furthermore, additional 760 share options have been issued to BPH and 190 share options to Advent by Clean Hydrogen, at an exercise price of USD$3,000 each.

The ASX-listed shares of BPH traded at AU$0.024 (market cap over AU$23 million) midday on 11 October 2023.  


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