Nacap to build hydrogen pipeline for AGA’s Aussie green ammonia project
Sep 19, 2024 16:03 CESTAustralian green hydrogen production firm LINE Hydrogen is seeking to go public in London through a merger with UK-based special purpose acquisition company (SPAC) Net Zero Infrastructure PLC (LON:NZI) in a push to capitalise on the growing global demand for green and sustainable energy solutions.
The potential transaction is seen to provide the Australian firm with access to the capital and support it needs to step up its growth plans and expand its operations, including through investments in research and development (R&D) and the exploration of new market opportunities, it said in a statement earlier this week.
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The two companies have signed a non-binding letter of intent (LoI) for NZI to acquire the entire issued share capital of LINE Hydrogen. The transaction consideration will comprise new NZI shares with LINE shareholders holding a majority interest in the public entity upon completion. Specific financial details were not provided.
The transaction hinges on the successful completion of due diligence and the signing of a definitive agreement, among other conditions. The parties expect to wrap up the deal by September.
Brisbane-based LINE Hydrogen is active in the commercial-scale production, distribution and storage of green hydrogen for various applications, focused on green hydrogen for diesel replacement.
Its portfolio includes, among others, Tasmania’s first commercial-scale hydrogen production facility. The George Town project is designed to have an initial capacity of 1.69 tonnes of green hydrogen per day. Its commissioning is scheduled for mid to late 2023.
Nacap to build hydrogen pipeline for AGA’s Aussie green ammonia project
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