Green Innovation AD, operating under the Hydrogenera trademark, began trading its shares today on the Main Market of the Bulgarian Stock Exchange with the ticker HYDR. The company is recognized as the first in Bulgaria’s green hydrogen technology sector to complete an initial public offering (IPO) on the local capital market.
At an auction held on June 24, Hydrogenera placed 400,000 shares and raised nearly BGN 8 million. The capital will be used to support growth in Bulgaria and other key European markets.
Assoc. Prof. Dr Manyu Moravenov, Executive Director of the Bulgarian Stock Exchange, commented at the bell-ringing ceremony: “We welcome Green Innovation AD (Hydrogenera) as the first Bulgarian company in the field of hydrogen technologies to enter the capital market. This is the first IPO on the Main Market this year and the first company to place us on the green investment map. Hydrogenera’s IPO is a clear signal that sustainable and high-tech companies are finding growth opportunities, and the Bulgarian Stock Exchange is the best partner for their development journey.”
Dragomir Ivanov, CEO of Hydrogenera, said: “Three years ago, when we founded Hydrogenera, few believed we would come this far. The road wasn’t easy, but with the right partners, we became stronger and more determined. Today, we stand here with pride — thanks to our exceptional team, the trust we’ve built among ourselves, and the vision we never lost. This is not just a new phase for the company, it is a statement of long-term commitment to transparency, innovation, and sustainable growth.”
Nikolay Martinov from Hydrogenera’s Board of Directors stated: “I believe we’ve made a remarkable start to major green innovations with Hydrogenera. From here on, the growth path of future unicorns will certainly become faster.”
Georgi Martinov from Karoll—Hydrogenera’s investment intermediary and advisor—added: “Hydrogenera is a strong example of how innovation and vision can find their way to investors when they meet the right partner. We are convinced this IPO will inspire other tech companies to seek funding and growth through the stock exchange.”
In financial results for early 2025 compared to last year’s period, Hydrogenera reported a 55% increase in revenue along with a 160% rise in pre-tax profit.
Photos from today’s event are available at https://shorturl.at/V0QSb
