UK Oil & Gas Investments (GB:UKOG) has released an update.
UK Oil & Gas PLC has successfully raised £1 million through the placement of new Ordinary Shares at a significant discount, with plans to extend a similar offer to retail shareholders. The funds are earmarked for the advancement of the company’s hydrogen storage projects, including environmental and engineering studies necessary for government support applications. The initiative is supported by major energy players, with a view to enhance the UK’s renewable energy infrastructure.
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