Australia’s green hydrogen champion, Infinite Blue Energy (IBE) has announced a pre-initial public offering capital raise for its proposed hydrogen plant at Arrowsmith, WA. It will be Australia’s first commercial green hydrogen plant.
The Pre-IPO seeks to raise $2million by offering up to 20 million ordinary shares @ 10c each, with 1 for 2 attached option ex @ 20c expiring 31 December 2022. This is a Sophisticated Investors Capital raise only.
In Q1 next year, IBE plans to proceed with its IPO on the ASX with an expected valuation of $50million.
The pre-IPO opened on 10 August. The book build closes 21 August. Acceptances are due by 24 August with funds due 26 August and allotment of shares 28 August.
The Arrowsmith Green Hydrogen Project is targeting its first hydrogen production in 2022. Located in the mid-west region of WA, it will take advantage of extremely favourable solar and wind power generating conditions to use cheap renewable energy to produce green hydrogen via electrolysis.
The plant is designed to produce 25,800 kgs per day from raw water using electrolysis. The plant is in close proximity to pipeline infrastructure and markets.
The CAPEX is estimated at $346million with very low ongoing OPEX. The plant will be using best in class electrolysers from recognized industry supplier Nel Hydrogen. Wind generation infrastructure will come from Vestas. Supported by onsite solar and green grid back-up, the project has zero carbon emissions.
IBE is in advanced discussion to supply hydrogen to domestic consumers via blending into existing nearby natural gas pipelines and utilization of the transport sector.
For more information about the pre-IPO, please contact us at ecoprofit.com.au
An extract from IBE?s information flyer summarizes the difference between brown, grey, blue and green hydrogen:
Share Watch – Wide Open Agriculture update (WOA:ASX)
An initial 200kgs of lupin has been secured from a Western Australian farmer committed to regenerative farming principles and WOA is engaging with numerous lupin growers to identify supply options that would meet any potential future demand.
The preparation of the lupin is now underway and will be shipped to CSIRO this month. CSIRO will then produce a food-grade, commercial quantity of lupin protein isolate to be utilised for testing and development of plant-based meat, milk, egg and gluten-free products.
Progress towards scaling and refining the production process has also advanced. CSIRO have already proposed an initial production process using their extensive range of industrial grade food processing equipment. Curtin University have commenced laboratory work to optimise this process and will incorporate results into the upcoming pilot production trial in September.
The project will also investigate any opportunities to utilise potential waste streams from the production process. Food waste is a significant contributor to climate change, and any by-product could potentially be harnessed to increase the commercial viability of production.
WOA has also successfully engaged Process Partners Pty Ltd to assist with key data collection and analysis during the upcoming pilot trial and conduct a scoping study with estimates on CAPEX and OPEX for future commercialisation. Process Partners are a highly regarded food and beverage industry specialist with extensive experience in advising, conceptualising, designing, building and optimising food processing and packaging plants.
In partnership with leading plant-based group Bridge2Food, WOA is scheduled to present to a global network that includes the world’s largest food companies in September. The Company has also commenced early stage discussions with European and North American food companies in relation to its lupin protein technology.
The graph shows the company’s trading performance over the last year. It is all happening.
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Eco Market Spot Prices
Sources:?RenewEconomy, demandmanager,? Reuters, SMH, Market Watch, Forbes