ReNu Energy wraps up Countrywide Renewable Hydrogen acquisition

With the issuance of 134.6 million new shares, ReNu Energy completed the acquisition of Countrywide Renewable Hydrogen (CRH).

With the help of project partners and governments, CRH develops green hydrogen projects. Additional 10 million shares will be issued to CRH’s three founders at a later date in consideration of the 124.6 million shares already issued.

One hundred per cent of Peak Asset Management’s consideration shares will be held for 12 months, 75 percent for 18 months, and half for 24 months.

With the acquisition, it now has access to three Australian onshore green hydrogen opportunities that are currently being discussed with state governments and large partners, as well as a pipeline of early-stage opportunities in Canada and the United States.