Hydrogenone Capital Growth, the investment trust focused on cash into clean hydrogen, has reported a strong performance of its underlying holdings, even though its share price has struggled. The trust’s net asset value NAV has grown 0.6 percent since the start of the year, and 3.6 percent since March 2023, it reported in a quarterly portfolio update today. Hydrogen companies in the portfolio Elcogen 19.4 per cent of NAV, HiiROC 15.3 per cent of NAV and Sunfire 20.
This pushed the trust’s portfolio of private investments up, contributing 2.1p or 2.1 percent per share to the NAV. The trust’s private portfolio companies delivered a total of £81m in revenue over the last year, an increase of 103 percent compared to the year prior. During the first three months of the year, the trust made £1.4m in new investments itself, comprising a number of follow-ons in existing portfolio companies. The trust’s stock price is up 5.
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