The hydrogen boom has reached the Bulgarian Stock Exchange: Hydrogenera raised nearly BGN 8 million

The Bulgarian Stock Exchange (BSE) started 2025 with a strong signal, proving the growing investor appetite for innovative companies in sectors with high growth potential. Green Innovation AD, better known under its brand name Hydrogenera, made a successful initial public offering (IPO), raising nearly BGN 8 million.

The successful listing shows that innovative technologies have a place on the Bulgarian capital market. It also underscores investor confidence in the only manufacturer of electrolysers in the Balkans, which is a pioneer in the production, storage and use of green hydrogen.

Financial results above expectations

During the IPO, Hydrogenera sold 400,000 new shares at a price of BGN 19.90 per share. Investor appetite for the auction was a clear signal – nearly 500 applications were submitted, with demand exceeding supply by more than 50%. In addition, most orders were close to the maximum offered price. All this confirms both the confidence in Hydrogenera's potential and the growing interest in companies in the clean technology sector.

Once the increase is entered in the Commercial Register, Hydrogenera's share capital will reach BGN 4.652 million, and its market valuation already exceeds BGN 92 million.

Marching west

With over 90 projects completed in Bulgaria, Italy, Turkey, and Poland, and as the only manufacturer of electrolysers in the Balkans, the company appears ready for expansion and to undertake large-scale industrial projects.

The funds raised will be strategically invested in key areas for Hydrogenera's future development. Plans include expanding production capacity, developing new, even more innovative products, and aggressively entering new markets, especially in Western Europe.

The company has already built up comprehensive expertise in the field of green hydrogen, from production and storage to the practical application of the technology. The newly raised capital will be prioritized for expanding production capacity, which is critical to meeting growing demand. At the same time, Hydrogenera plans to work intensively on the development of new products and technological solutions.

Signal to the market

Hydrogenera's successful IPO sends an important signal about the state of the Bulgarian capital market and the new wave of interest in green technologies. Investors are demonstrating their willingness to support innovative companies with solid growth potential. This gives a serious boost to the company's ambitions to establish itself as a leader in one of the key sectors of the energy transition and opens doors for other innovative Bulgarian businesses seeking public funding.

Trading in the company's shares under the ticker symbol HYD is expected to begin in about two weeks.

Translated with DeepL.