UK Oil & Gas Investments (GB:UKOG) has released an update.
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UK Oil & Gas PLC has successfully raised £0.5 million through a share placing to fund the acquisition of a hydrogen storage site in East Yorkshire. This strategic move positions the company within the government’s East Coast hydrogen cluster, enhancing its portfolio in the burgeoning hydrogen storage market. The initiative aligns with the UK’s Clean Power 2030 strategy and the development of a national hydrogen pipeline network.
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