Australian diversified hydrogen conglomerate United H2 Limited (UHL) has hired New York-based advisory firm TriPoint Capital Management to assist in the execution of a dual listing strategy in North America.
The conglomerate plans to list on the Canadian Securities Exchange in the final quarter of the current calendar year and on the NASDAQ in the fourth quarter of 2024, in a drive to establish itself as the world’s first hydrogen unicorn.
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Sydney-based UHL is an investor in 37 hydrogen projects and companies, including in automotive business H2X Global Ltd, which has now reached a valuation of AUD 100 million (USD 66.4m/EUR 61.4m) and is preparing for its separate listing in London.
The group’s current valuation amounts to AUD 27 million but UHL pointed out that this is only attributed to nine equity positions.
“UHL is targeting a public listing in the second half of 2023 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,” commented Executive Director-elect, Richard Allen.
“Given the high-growth potential of this hydrogen conglomerate, we will immediately begin the process of listing UHL on the Canadian Securities Exchange,” in turn said Mark Elenowitz, managing director of TriPoint Capital Management.
(AUD 1.0 = USD 0.664/EUR 0.614)