- BPH Energy and Advent’s Progressive Investments in Clean Hydrogen Technologies
BPH Energy Ltd (ASX:BPH) declared its intention to invest in the USA Delaware registered company, Clean Hydrogen Technologies Corporation (Clean Hydrogen).
Following shareholder approval, the company has detailed further funding agreements, advancing a total of US $500,000 to Clean Hydrogen, paving the way to a 17.5% interest.
Strategic Investments: From Intent to Action
On 24 May 2022, BPH announced its plan to pursue an investment in Clean Hydrogen. With shareholders’ approval obtained on 21 June 2022, and a further US $250,000 advanced to Clean Hydrogen Technologies, BPH and its 36.1% (direct interest) investee company Advent Energy Limited (Advent) are demonstrating a strong commitment to the clean hydrogen sector.
A Binding Term Sheet: Structuring the Investment
A binding term sheet (Term Sheet) was entered into, allowing the Purchasers to subscribe for fully paid shares in Clean Hydrogen, representing a total of 10% of the total issued share capital. An additional 10% Subscription Shares Tranche 2 was also outlined, with the right of first refusal (ROFR) for the Purchaser, and another 10% interest in Clean Hydrogen made possible through a separate loan conversion agreement.
Clean Hydrogen Technologies: A Leader in Clean Hydrogen Production
Clean Hydrogen Technologies specializes in producing clean hydrogen through unique catalysts and bespoke engineering processes. The technology yields clean hydrogen and solid carbon from natural gas processing, entirely without CO2 emissions.
The company is currently building a commercial system, targeting large-scale solutions for upstream natural gas processing and small-scale needs for hydrogen hubs for transport. Three comprehensive patents have been filed in the USA, reflecting their capabilities, and they plan to file more patents to solidify their technological advancements.
USA’s Clean Hydrogen Demand and BPH’s Role
With the Biden-Harris administration releasing the USA’s first-ever National Clean Hydrogen Strategy and Roadmap in June 2023, the demand for hydrogen in the United States is projected to reach up to 73 million metric tons by 2050.
Clean Hydrogen Technologies aims to make the US market a key focus of their development plans, and the investments from BPH Energy and Advent are perfectly aligned to bolster this growth trajectory.
About BPH Energy Limited
BPH Energy Limited (ASX:BPH) is an Australian Securities Exchange-listed company focusing on developing biomedical research and technologies. The company partners with institutions such as The Harry Perkins Institute for Medical Research and Swinburne University of Technology (SUT), offering early-stage funding, project management, and commercialization strategies.
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