HydrogenOne Capital's first quarter report for 2025 revealed a stable net asset value (NAV) of 89.28p per share, supported by gains from currency movements and improvements in discount rates despite negative revaluations in some holdings. The company's private portfolio companies demonstrated strong revenue growth, with key achievements such as securing financing, winning awards, and advancing technology development in the hydrogen sector. The annual 'Hydrogen Handbook' by HydrogenOne Capital LLP highlighted the positive trajectory of the global hydrogen market, estimating a significant increase in green hydrogen capacity under construction backed by substantial committed capital. The report emphasized the essential role of clean hydrogen in industrial decarbonization and energy transition across various sectors. Despite near-term challenges like geopolitical uncertainty and capital cost increases, the Handbook expressed optimism about the long-term structural drivers supporting the hydrogen economy. The advisor's projection of doubled clean hydrogen supply by 2027 signals confidence in the sector's growth potential. HydrogenOne is actively exploring strategic options to enhance shareholder value, with ongoing discussions with third parties. The company's focus on clean hydrogen technologies and positive sector momentum indicate promising opportunities for investors and the future of sustainable energy.