Highlights
Share Purchase Agreement signed to acquire 100% of Countrywide Renewable Hydrogen (CRH) through the issue of 134,659,520 fully paid ordinary shares at
CRH is an Australian company that originates Green Hydrogen projects to develop them in collaboration with project partners and governments.
Transaction provides access to the growing Green Hydrogen industry through three Australian onshore Green Hydrogen opportunities under initiation with state governments and large partners.
CRH also has a pipeline of opportunities in
CRH targets domestic supply with a view to expand projects for future export demand.
Business model is to retain equity through project development and into revenue generation.
100% scrip acquisition preserves
Acquisition includes proposed appointment of CRH's Managing Director, Mr
Pricing represents
CRH opportunity and investment rationale
CRH originates green hydrogen projects with a view to developing them in collaboration with project partners and governments, initially targeting domestic requirements and where viable, expanding the projects to meet future export demand. CRH's business model is to retain equity in each project as it moves through development, into production and revenue generation
The transaction: Provides access to the growing green hydrogen industry through three Australian onshore green hydrogen opportunities under initiation with state governments and large partners, and a pipeline of early-stage opportunities in
Recognises that the time invested and extent of the relationships the CRH founders have developed in each of the three Australian onshore green hydrogen opportunities over several years cannot be easily replicated by new entrants.
Provides a point of differentiation with the initial focus being on domestic supply.
Comes with no debt and positive working capital to progress the green hydrogen opportunities in the short term. The current Australian pipeline of CRH opportunities is: Green hydrogen in northwest
Green hydrogen production and vehicle refuelling in
Green hydrogen at Portland in
To progress these opportunities CRH has collaboration agreements in place with several large companies (including ASX 100 listed entities) interested in providing renewable energy, land and taking green hydrogen produced by the projects for use in mobility (such as in trucks and buses), power generation, natural gas decarbonisation and materials handling. These collaboration agreements are non-binding, strategic framework documents which are intended to be converted into definitive arrangements as proposed project opportunities progress commercially. CRH is also building a pipeline of offshore opportunities in
Board appointments
On completion of the acquisition,
Contact:
Tel: 61 7 3721 7500
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