Line Hydrogen, located in Queensland, has started a crowdfunding campaign through Birchal to allow the public to support its aspirations for green hydrogen generation, which include a plant in Tasmania.
The renewable energy business is trying to raise $2 million after a successful expression of interest phase that saw over 1,000 people sign up. Individuals can contribute as little as $250.
The community support will be added to the $5 million in financing given to the project by the new Labor administration in the run-up to the election.
Line Hydrogen stated in April that it will begin building its first commercial-scale green hydrogen plant in Tasmania by the middle of 2022, after signing a terms sheet with Climate Capital to build up to a 5MW ground-mounted solar farm near George Town, Tasmania.
When combined with Line’s proposed electrolyzer, green hydrogen might be produced to power five hydrogen refueling stations in Tasmania.
“The new government has made it plain that Australian hydrogen should be created by Australian enterprises for all Australians,” said Brendan James, chairman of Line Hydrogen. “Now is the moment for all Australians to have a role in our green future.”
From early 2023, Line Hydrogen intends to manufacture green hydrogen.
“Our objective is to be Australia’s premier new energy producer, combining production and end-use market demand by providing commercial-scale green hydrogen in the near future.”
“We want to do so by supplying cost-competitive hydrogen while also enabling and engineering end-use market demand,” James explained.
Despite receiving money from key investors, the Queensland-based company’s crowdfunding effort will allow future-oriented Australians to participate in the green energy transformation.
The crowdfunding campaign for Line Hydrogen on Birchal will go live this week.
