Western Australian green hydrogen developer Infinite Blue Energy is seeking early investors ahead of a listing on the Australian Stock Exchange, where it hopes to become the country’s first listed green hydrogen producer, with plans for a $348 million commercial-scale hydrogen plant.
Infinite Blue Energy has plans to develop a number of large-scale green hydrogen facilities across both Western Australia and New South Wales, and said in May that it was working on plans for a massive 1,000MW wind and solar facility in NSW, that could supply green hydrogen to major industrial manufacturers within the next seven years.
In its latest announcement, Infinite Blue Energy has revealed that it is aiming to raise a pre-IPO investment of $2 million, with a goal of listing the company on the ASX in Q1 of 2021.
The pre-IPO investment round would value the company at $10 million, with potential investors being offered the chance to buy a 20 per cent ownership stake in the company. The company has been founded by Stephen Gauld, who has previous experience in the resources and energy sectors, and Yolanda Zhao who had senior roles in the delivery of the 2008 Beijing Olympic games.
The company hopes to use the initial investment to progress its plans, raise sufficient investment, to enable it to develop Australia’s first commercial scale green hydrogen plant by 2022.
Infinite Blue Energy has previously announced plans to develop the Arrowsmith Hydrogen Plant in the mid west of Western Australia, with the initial stage having the potential to produce up to 25 tonnes of green hydrogen each day, drawing on additional developments of 85MW of solar power, supplemented by 75MW of wind generation capacity.
Through the project, the company is looking to seize the opportunities presented through Western Australia’s competitive advantages in wind and solar resources, as well as existing access to export markets for energy, including gas.
The project is planning to deploy an electrolyser produced by Nel, with Vestas selected to supply the wind turbines to the project.
The company is currently in discussions with prospective customers for the green hydrogen, which may include supplies to domestic consumers via blending into the mains gas networks as well as hydrogen for the transport sector.