Infinite Blue Energy plans an initial public offering that would make it the first zero-emissions hydrogen company to list on the Australian Stock Exchange.
The Perth-based group is looking to raise A$2 million ($1.45 million) in pre-IPO funding to aid the development of a hydrogen facility in Western Australia driven entirely by renewable power. The company plans to list on the ASX in the first quarter of fiscal 2021, ahead of first production from the plant in 2022.
Solar and wind power will be located on site, with IBE targeting output of more than 25 tons of hydrogen a day. Demand for ‘green’ hydrogen far outstrips supply, the company said in a presentation, with stage one of its Arrowsmith project only enough to satisfy 4% of its offtake orders.Full Article