Patriot and CAC-H2 have engaged Liberty Energy Capital to work as advisors to raise money for working capital in pre-IPO funding.
To gather cash and devise a strategy for Patriot to be listed on an appropriate securities market, Liberty is cooperating with its consultants.
As a global pioneer in renewable energy, CAC-H2 CEO Glen Davies lauded the company’s relationship with Patriot as a big step forward.
“As global leaders undertake climate talks in Glasgow, there’s a growing urgency to cut down reliance on polluting fossil fuels to limit the worst effects of global warming. For that effort to be successful, clean energy will have to grow rapidly to make up the difference. Renewables are the cornerstone of decarbonisation strategies, and hydrogen and green energy will become major assets in the fight against climate change.”
CAC-H₂ director Arman Massoumi said the company was excited to be part of the energy decarbonisation initiative with Patriot. “Green hydrogen and renewable energy from waste play a key role in realizing energy transition,” he said.
Expanding hydrogen portfolio
Patriot is also working with Sweetman Renewables, a new participant in the renewables industry, to create more hydrogen assets.
A joint venture between Sweetman and CAC-H2 has also been formed to create Australia’s first wood-fed hydrogen production plant and the country’s largest green bio-hydrogen production eco-hub in the country.
Located next to Sweetman’s Millfield lumber mill, the Hunter Valley One hydrogen production center of excellence will be erected on 30 acres of land.
In order to meet the increased demand for biofuels in the future, Patriot has formed strategic alliances with a number of companies. Renewable hydrogen is a flexible, efficient, and accessible power source that the company hopes to employ to help businesses migrate to a more sustainable energy strategy while reducing costs.
Patriot anticipates a long-term demand for its P2H units as major economies across the world rapidly transition to renewable energy sources in order to satisfy their zero-emissions goals.