United H2 Limited’s (UHL) investee, H2X Global, has featured in the Australian Financial Review after it secured a $86m cornerstone investment agreement from North American firm, Verde Mobility, showing the company is gaining serious momentum.
As a founding shareholder & investor, the UHL team originally owned 75% of H2X and used its proven strategy to build it into the world’s leading hydrogen vehicle company, starting from a valuation of zero to its current $100m plus market cap.
Deal Highlights:
- The funding deal will finance the delivery of H2X’s $US300m in purchase agreements, which covers 800 vehicles, including its Warrego (utility vehicle), Paroo (garbage/deliver/concrete trucks), and Swan (passenger bus).
- The financial backing will accelerate H2X’s pathway to its planned listing on the London Stock Exchange.
- The deal will give H2X access to major European manufacturing & distribution facilities, which will allow the company to begin delivering its vehicle range to the market at a commercial scale and competitive cost.
Given this, UHL anticipates the deal will enhance H2X’s ability to deliver a significant liquidity event for UHL shareholders.
H2X is a strong example of the power of the world’s largest hydrogen conglomerate, UHL’s, business-building strategy, which has seen it deliver $650m in market capitalisation across 11 companies and $24m in cash returns for shareholders.
Given its strong track record, UHL believes it is well-placed to deliver similar valuation growth across its 37 projects and companies as it heads towards a North American listing later this year, which will provide significant market capitalisation growth for shareholders.
Please contact UHL if you are interested in being involved with H2X, UHL or any other of UHL’s 37 investees.
