(MENAFN- ProactiveInvestors)
Clean technology company () has now been officially admitted to the ASX and will begin its quotation tomorrow.
The news follows the successful completion of the company’s IPO last month thanks to a positive response to a A$5 million fundraiser.
The offer was closed several weeks earlier than expected and was heavily oversubscribed.
Hazer’s IPO included the issue of 25 million shares at A$0.20 each and strong support from public investors as well as participation by a number of sophisticated and strategic investors.
The company will use the proceeds towards the ongoing development of its technology over the next two years enabling it to tap into considerable opportunities in the global clean energy market.
Hazer was established in 2010 to commercialise the development of a hydrogen and graphite production process created by researchers at the University of Western Australia.
Global hydrogen production in 2014 was estimated at over 64 million tonnes at a total value of more than US$100 billion.
The most significant geographic markets were Asia (43%) and Europe (23%).
It is used primarily used in the petroleum refining process to crack heavy hydrocarbons to produce liquid fuels and as a feedstock for ammonia production.
Hazer’s strategy in this space will be to target the growing markets for low-cost synthetic graphite with high-purity and crystallinity – which are connected to the expansion of the electric vehicle industry.
Analysis
The positive response to Hazer’s IPO underscores market recognition in the value of clean hydrogen versus other environmentally conscious energy strategies which nevertheless produce carbon dioxide and thus essentially negate their clean energy benefits.
The Hazer approach is prospective in that it will pursue the commercialisation of clean technology which is less expensive and more energy efficient.
The company’s core technology will achieve this by using natural gas (instead of independent primary clean energy supplies) and iron ore to produce clean hydrogen and synthetic graphite products destined for growing global battery markets.
Proactive Investors Australia is the market leader in producing news articles and research reports on ASX emerging companies with distribution in Australia UK North America and Hong Kong / China.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.