HyTerra announced that Fortescue (A$57bn market cap), a global technology energy and metals miner, will invest A$21.9mm (~US$15mm) to obtain a 39.8% stake in HyTerra, through the issuance of 644mm new shares at A$0.034/sh (~10% premium to the previous close) alongside 322mm options with a strike price of A$0.051 with a three year expiry. We see this deal as transformational for not only HyTerra but also the natural hydrogen sector as it provides validation of its strategy from an experienced hydrogen player with deep pockets, allowing HyTerra to expand globally. These funds will initially go towards HyTerra's Nemaha natural hydrogen and helium project in Kansas: the planned two well programme will be expanded to six, commencing after the finalisation of the deal in mid Q4’24, with initial well results by year-end. The company also released its latest corporate presentation discussing further details about the deal and plans ahead.
top of page
Search
Recent Posts
See AllDuring H1'24, Buru Energy, through its subsidiary 2H Resources, advanced its natural hydrogen and helium development initiatives. Key...
Mosman raised £1.5mm (~US$2mm) via a placing of 4.24bn shares at 0.035p/sh (24% discount to the previous close of 0.046p/sh) to support...
In a publication from the annual review of Earth and Planetary Sciences, a paper discusses about a significant portion of Earth's deep...
bottom of page
Comments