Australian hydrogen conglomerate, United H2 Limited (UHL), has engaged New York-based advisory, TriPoint Capital Management (TriPoint) to execute a dual listing strategy, which involves plans to take UHL public on the Canadian Securities Exchange in Q4 CY23, followed by an IPO on the NASDAQ in Q4 CY24.
UHL believes this will accelerate its goal of becoming the world’s first hydrogen unicorn and deliver further liquidity so it can continue to grow its portfolio of 37 hydrogen companies and projects.
Currently valued at $27m, which has been attributed to nine equity positions, UHL will invest the funds raised to progress its advanced companies and unlock the potential of projects currently valued at zero, which they believe will grow its valuation significantly pre-listing.
“UHL is targeting a public listing in the second half of 2023 so it can execute its proven special-purpose vehicle (SPV) model at scale, which involves a systematic approach to identifying high-growth hydrogen projects and forming SPVs with technology partners to quickly unlock their value,” says UHL Executive Director-elect, Richard Allen.
“Over the past three years, this strategy has seen the UHL team work closely with its partners to generate $650m in market capitalisation across 11 hydrogen companies, with each starting from a valuation of zero.”
Some of the UHL team’s success stories include:
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Founding shareholder, investor & major shareholder in H2X Global, taking it from a valuation of zero to $100m.
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H2X is also on track to execute a planned public listing on the London Stock Exchange at the back-end of 2023, which is anticipated to deliver a substantial liquidity event.
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Founding partner and investor in Infinite Green, taking it from a valuation of zero to $315m, with a successful exit in 2021.
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Seven successful exits over the past 18 months, which delivered a $23.5m return for shareholders.
Given this strong track record, UHL is aiming to generate similar valuation growth across its 37 projects and companies as it gears up for a planned IPO in the second half of 2023.
“UHL is extremely excited to be working with TriPoint, whose team of Wall Street veterans specialise in delivering significant liquidity events for growing companies.”
Over the past 12-18 months, the UHL team has been the key driver behind the success of multiple renewable energy companies such as H2X, National H2, Titan Hydrogen, Aviation H2, H2i Technology, Patriot Hydrogen, and Poseidon Marine H2.
“As part of our risk management process, we have built a highly diversified group of businesses which covers the entire hydrogen market, from production through to end-use.”
Outside of accumulating monetary value, UHL has played a key role in bringing groundbreaking technologies to market, including:
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The world’s first hydrogen ute.
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Hydrogen-powered generators.
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A fabricated waste-to-hydrogen unit.
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A hydrogen injection system that reduces the emissions of diesel engines.
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A lab-proven method for increasing the efficiency of fuel cells by 40-60%.
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A digitised proof of concept for a marine technology that will allow boats to operate off diesel and hydrogen.
“With many experts beginning to view hydrogen as the most economically viable avenue path to achieving net-zero, we believe United H2 Limited’s diversified group of companies and proven ability to generate substantial value and deliver groundbreaking products to market presents a strong opportunity for investors,” says TriPoint Capital Management Managing Director, Mark Elenowitz.
“Given the high-growth potential of this hydrogen conglomerate, we will immediately begin the process of listing UHL on the Canadian Securities Exchange.”
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