Hydrogen vehicles maker H2X Global contracts IPO assistance

Australian automotive company H2X Global Ltd, which specialises in hydrogen-powered vehicles, has arranged the assistance of a number of firms for its plan to list on the London Stock Exchange in the back half of 2023.

The company’s founding equity partner, investor and major shareholder, United H2 Limited (UHL), unveiled on Thursday that H2X Global has signed a joint engagement letter with BPC, Ince Group, Arden Partners and Zeus Capital. The role of Arden Partners is to lead a pre-IPO round that is scheduled for this month, while Zeus Capital will be the lead manager for the actual listing in late 2023.

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H2X Global is engaged in the delivery of hydrogen-powered trucks, utes, buses and generators. The firm has more than AUD 50 million (USD 33.5m/EUR 30.5m) in orders for its vehicles across the world and anticipates registering a total of AUD 819 million by December 2024, according to UHL, which prepares an IPO for itself, too.

Since the start of the year, H2X Global has announced a couple of joint ventures, one in Scandinavia with green hydrogen producer Norwegian Hydrogen AS, and one in India with local manufacturing and development company Advik Hi-Tech Pvt Ltd.

(AUD 1.0 = USD 0.670/EUR 0.610)