LINE Hydrogen Announces UK Listing
01 Juin 2023 - 9:10AM
Business Wire
The Australian green hydrogen company is
merging with UK organisation, Net Zero Infrastructure PLC, and is
set to be listed on the LSE by September.
LINE Hydrogen, a leading Australian-based hydrogen production
company is pleased to announce that it has executed a Heads of
Terms with Net Zero Infrastructure PLC (NZI) a Special
Purpose Acquisition Company (SPAC) listed on the Main Market
of the London Stock Exchange (LSE) for a reverse takeover
between the two companies. The proposed transaction is expected to
be completed by September 2023, subject to pre-conditions and
regulatory approvals.
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LINE Hydrogen is an Australian company at
the forefront of green hydrogen production and the clean energy
revolution. (Photo: Business Wire)
The strategic acquisition brings together the expertise and
vision of LINE Hydrogen with the benefits arising from a listing on
the LSE in the rapidly growing hydrogen energy sector. The combined
entity will be well-positioned to capitalise on the increasing
global demand for green and sustainable energy solutions.
This transaction represents a significant milestone for both
companies and is expected to provide LINE Hydrogen with access to
the necessary capital and support to accelerate its growth plans
and expand its operations, including by further investing in
R&D and exploring new market opportunities. By leveraging NZI’s
network and market access, LINE Hydrogen should be well-positioned
to drive innovation and contribute to the global transition towards
a more sustainable and zero-carbon future.
"We are very pleased to announce our proposed transaction with
NZI," said Brendan James, Founder and Executive Chairman of LINE
Hydrogen. "The transaction reflects our shared vision of advancing
the green hydrogen economy now, and providing a much needed green
energy solution to diesel replacement, particularly in the areas of
Heavy Transport and Heavy Industry. We believe that combining our
strengths and expertise will facilitate the expansion of our green
hydrogen operations and technology internationally, creating
significant further value for our shareholders, and make a positive
impact on the global energy landscape."
NZI’s Chairman, Mike Ellwood added, "Joining forces with LINE
Hydrogen means we can leverage our joint resources with a view to
expanding operations and driving the development of the green
energy sector. Together, we believe that we are well-positioned to
capitalize on the growth potential in this market and contribute to
a more sustainable future."
The completion of the acquisition is subject to customary
closing conditions, including regulatory approvals.
About LINE Hydrogen
LINE Hydrogen is at the forefront of Australian-based green
hydrogen production company at the forefront of the clean energy
revolution. The company specialises in the production,
distribution, and storage of green hydrogen for various
applications, with a focus on the delivery of commercial scale
green hydrogen for diesel replacement.
About NZI
NZI was established to acquire renewable or clean energy
companies and to finance, develop and promote environmentally sound
projects internationally. The Company believes that due to the
global concerns regarding environmental damage and climate change
as a result of fossil-fuelled power generation, there exists
considerable commercial opportunities in the renewable and clean
energy sector which will play an increasingly significant role in
meeting future energy needs while reducing further environmental
damage.
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