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UHL hopes to become the world’s first hydrogen unicorn

Published by , Editorial Assistant
Global Hydrogen Review,

United Hydrogen Ltd (UHL) has launched with ambitions to become the world’s first hydrogen unicorn and the market leader in a sector set to be worth US$201 billion by 2025.

UHL will seek a listing on a suitable exchange in the second half of 2023 to 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.

Over the past three years, this has seen the company work closely with its partners to generate US$600 million in market capitalisation across 11 hydrogen companies, with each starting from a valuation of zero.

Additionally, UHL has had seven successful exits over the past 18 months, which delivered a US$23.5 million return for shareholders.

Outside of accumulating monetary value, UHL has played a key role in bringing groundbreaking technologies to market, including:

  • The world's first hydrogen ute.
  • Hydrogen-powered generators.
  • A fabricated waste-to-hydrogen unit.
  • A hydrogen injection system that reduces the emissions of diesel engines.
  • A lab-proven method for increasing the efficiency of fuel cells by 40 - 60%.
  • A digitised proof of concept for a marine technology that will allow boats to operate off diesel and hydrogen.

The company is targeting the burgeoning hydrogen industry, as many experts view it as the most economically viable avenue to achieving net zero goals.

Hydrogen has the ability to provide clean, reliable power to the grid, along with fuel for transport and stationary engines, such as the ones used to power mining sites, remote communities or construction sites.

Hence, it seems inevitable that hydrogen will ultimately become a major decarbonisation lever, with the potential to sustain the energy needs of the global economy.

With the natural resources available and a global reputation as a high-quality exporter, Australia is poised to lead the transition.

Due to a major influx of capital from both private and public investors, Australia now has the world’s largest pipeline of announced hydrogen projects, including 22 major projects worth up to US$300 billion.

It has also been estimated that Australia could be exporting over 1 million tpy of hydrogen by 2030, generating approximately US$4 billion in annual revenue.

UHL’s current US$39 million valuation has only been attributed to 9 of the 37 companies and projects it holds equity in, which is conservative given the progress each has made since validated by independent auditors.

As part of UHL’s IPO strategy, it will raise pre-IPO rounds to progress its advanced companies and unlock the potential of projects currently valued at zero, which they believe will double its valuation pre-listing.

Specifically, UHL will further capitalise its companies while also working with them to provide the resources needed to achieve substantial commercial success and deliver lucrative liquidity events.

Each company is run by its own board and management team of industry experts/engineers, while UHL provides corporate support, access to capital and connection to its network to accelerate growth.

In total, UHL holds a significant position in 37 companies and projects that provide insulation from diversification and the potential to build a powerful ecosystem.

The company will sustain its growth by forming more SPVs via its extensive network of over 200 highly experienced industry executives, thought leaders, engineers, designers and project managers, many of which hold board positions in its current list of companies.

This will be funded through partial exits from its SPVs as their value increases and the significant liquidity events they deliver. Through this, UHL believes it is building the world’s largest and most diversified hydrogen conglomerate, which will develop the next generation of infrastructure that will provide power and transport globally for the next 100 years.

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