Nanofilm attributes 10% intra-day share price surge to hydrogen subsidiary's deal news

In a bourse filing, Nanofilm attributes the surge to an announcement that its subsidiary Sydrogen Energy had entered into an exclusive collaborative partnership with Shanghai Hydrogen Propulsion Technology in connection with the development of a 250 kilowatt hydrogen fuel cell power module system for use in the shipping industry.

"The news could have triggered some investors to start to focus on the possible financial gains to Sydrogen arising from a commercialisation of the power module system," reads Nanofilm's response to SGX RegCo, issued at 8.36pm on Jul 10.