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UK Oil & Gas Investments ( (GB:UKOG) ) has shared an announcement.
UK Oil & Gas PLC has successfully raised £400,431 through a private placing to advance its South Dorset hydrogen storage project. The funds will be used for conceptual designs and operational expenses related to the government’s Hydrogen Storage Business Model procurement process, which could enhance the company’s competitive edge in securing government support. This project positions UKOG as one of three key hydrogen ‘cohorts’ in the UK, potentially contributing to a broader hydrogen system in Southern England.
More about UK Oil & Gas Investments
UK Oil & Gas PLC is a company operating in the energy sector with a focus on hydrogen storage. The company is involved in projects that aim to enhance hydrogen production, storage, and transmission, particularly in the UK, positioning itself as a participant in the emerging hydrogen economy.
YTD Price Performance: -10.0%
Average Trading Volume: 104,433,222
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: £2.4M
For an in-depth examination of UKOG stock, go to TipRanks’ Stock Analysis page.