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Hydrogen Future Industries PLC - London-based investment company focused on hydrogen sector - For the 13 months that ended on July 31, records a pretax loss of £700,000. Administrative expenses amount to £541,000. The company had its initial public offering on December 3 last year, with a market capitalisation of £3.1 million. Looking ahead, says it is progressing to target of producing cheaper green hydrogen. Cash balance at period end amounts to £1.4 million.
Non-Executive Chair Daniel Maling says: ‘HFI has made progress since listing on the Aquis Stock Exchange Growth Market in December 2021. We have entered the green hydrogen development space and wasted no time in progressing the development of our first system. Our development activities are being led by a recognised expert in wind turbine systems, Timothy Blake; we have built and installed our first prototype in Montana; and we have acquired valuable patents which strengthen our intellectual property. With positive results already being achieved from prototype testing, I believe we are well on our way to the company‘