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26 Feb, 2021 15:34 26 Feb, 2021 15:34

Sabien invests in hydrogen compressor firm Aeristech

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Sabien Technology announced on Friday that it has invested £0.1m in Aeristech, which manufactures power-dense compressors for use in hydrogen fuel cells.

The AIM-traded firm said the investment was being funded by its existing resources as part of a £5.1m pre-initial public offering funding round completed by Aeristech.

Sabien had subscribed for 41,667 shares in Aeristech, equivalent to 0.3% of its issued share capital as enlarged by the funding round, at an issue price of £2.40 per share.

In addition, Aeristech issued Sabien with 10,417 warrants with a two-year term, with each warrant carrying the right to subscribe for one share in Aeristech at the issue price of £2.40.

“Sabien believes that environmental and shareholder benefits are not mutually exclusive,” said chairman Richard Parris.

“We are focused on building a portfolio of solutions which reduce carbon dioxide production at the point of consumption.

“Aeristech fits this template completely - its work within hydrogen fuel cell optimisation is class-leading and the resulting technology will be, I am sure, capable of significant growth.”

At 1402 GMT, shares in Sabien Technology Group were down 0.96% at 0.12p.


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We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.