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Group Update: UHL works towards growing its portfolio

Following a successful capital raise, United H2 Limited (UHL) is now working full steam ahead towards growing the valuation of its 37 hydrogen projects and companies.

See below an update on UHL and the revolutionary hydrogen companies it is working with its partners to develop.

UHL engages a New York advisory firm to lead planned listing

UHL engaged New York-based advisory firm, TriPoint Capital Management, to execute a dual listing strategy, which involves plans to take UHL public.

UHL believes this will accelerate its goal of becoming one of the world’s first hydrogen unicorns and deliver further liquidity so it can continue to grow its portfolio of 37 hydrogen companies and projects.

UHL will invest the funds raised to progress its advanced companies and unlock the potential of projects currently valued at zero, which it believes will grow its valuation significantly pre-listing.

“UHL is targeting a public listing 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.”

“With many experts beginning to view hydrogen as the most economically viable avenue 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.

$100m H2X valuation increases the value of UHL

UHL investee H2X’s valuation has increased from $69.1m to $100m, which has delivered an immediate uplift in valuation for UHL.

As one of the largest shareholders in H2X, UHL believes it will deliver significant value in the next 6-12 months as H2X heads towards a listing on the London Stock Exchange.

UHL’s team were founding shareholders of H2X and have worked closely to build the company from a valuation of zero to $100m, showing its method for growing companies delivers significant value.

National H2 secures its first site for a first plastic-to-hydrogen plant

Plot plan for National H2's first plastic-to-energy plant on West Mundijong Industrial Estate.

National H2 has secured a site on West Mundijong Industrial Estate to build its first non-recyclable waste plastic-to-hydrogen plant.

National H2 has completed a feasibility study, while the local council, Serpentine Jarrahdale Shire, have given their full support for the project and is looking to accelerate the approval process.

H2X eyes off planned listing on the London Stock Exchange

H2X has sold its first hydrogen-powered pick up truck to the City of Rotterdam, who are receiving the keys to the vehicle in the above image.

H2X has announced that it has engaged a team of UK-based advisors to raise pre-IPO capital for the hydrogen fuel cell electric vehicle leader.

Furthermore, the engagements crystallise H2X’s plans to list on the London Stock Exchange in the next 6-12 months.

First commercial units being manufactured for field testing with potential customers

H2i’s ultra-high-tech ‘black box’ system has the software to manage the injection of hydrogen into a diesel generator.

H2i Technology has begun the process of manufacturing ten commercial-ready hydrogen enhancement systems via its production partner in Victoria, which it will use for field testing on potential customers’ sites.

H2i Technology is planning trials with potential customers with multiple diesel engines across the steel manufacturing, agriculture, construction, mining and hospitality/tourism industries.

Since releasing its commercial test results, H2i Technology’s hydrogen enhancement system, which has the hardware and proprietary software to manage the injection of hydrogen into a diesel engine to reduce emissions, has received enquiries from across the globe.

Moving forward, the company says its key focus will be to secure more field testing opportunities and convert them to sales agreements.

H2X secures $34m contract in Sweden

H2X announced, via the Australian Financial Review, it has secured a second contract with Renova AB in Sweden worth up to $34m.

The award, received by H2X subsidiary H2X Gothenburg AB, comes from a second public tender released in December 2022. H2X has successfully secured vehicles in 12 out of the 13 categories specified in the tender, covering both 18 and 26 tonne vehicle classes.

The hydrogen fuel cell powered trucks are designed to meet a range of truck configurations required by Renova, including tail lift dumpers, garbage compactors, hook lifts, and crane loaders. The vehicles offer the same range and load capacity as traditional fossil-fuelled vehicles while delivering zero emissions.

Federal member visits Manly workshop

Aviation H2’s Directors showcasing its revolutionary technology to Federal Member, Zali Steggall.

The Federal Member for Warringah, Zali Steggall OAM, visited Aviation H2’s Manly workshop earlier this year to learn more about the company’s mission to decarbonise the aviation industry and see the progress it has made converting a jet engine to liquid ammonia.

After making significant advancements in modifying a turbine engine to operate on liquid ammonia, Aviation H2 says it will continue to be a strong advocate for the urgent need to find a carbon-free solution for aviation.

Aviation H2 anticipates it will play a major role in guiding the sector through the carbon challenge as its conversion model is tracking to be one of the first economically viable solutions to market.

Currently, Aviation H2 is finalising the modification of a test engine so it runs on liquid ammonia, the company’s hydrogen carrier of choice.

Aviation H2 Director, Dr Helmut Mayer, explains modifying a jet engine, so it operates off carbon-free fuels.

The test engine will serve as a proof of concept for the conversion model the company developed in the feasibility study conducted in 2022.

Always searching for renewable energy partners

We are always seeking partners in the renewables space, focusing on hydrogen, so reach out to our team now to chat about how we can bring value to your business.

UHL has a proven track record of helping companies accelerate their growth and access the resources needed for success.

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