H2Au Secures Significant Funding, Commences Portfolio Acquisition
H2Au Limited (“H2Au” or the “Company”), a privately-owned natural hydrogen exploration company, is pleased to announce that it has closed its first round of funding and reached its planned investment target. The investment has been secured through a private placing of new shares to a subsidiary of Hosken Consolidated Investments (HCI) of South Africa.
The investment capital will be used to secure valuable natural hydrogen licences and progress ahead with the Company’s business plan to explore for and realise commercial natural hydrogen resources.
Highlights
The investment will allow H2Au to continue with its asset acquisition plan to secure licences in the USA and Africa, and to create value through natural hydrogen exploration and production.
HCI has a long and successful history investing in the energy industry and represents a strong cornerstone investor for H2Au as it develops.
The Company board has been strengthened by the appointment of John Anthony Copelyn and Rob Nicolella as non-executive directors.
Further funding rounds are planned as H2Au continues to acquire assets and move ahead with its work programme and drilling.
Owain Jackson, CEO and Co-founder of H2Au Limited, commented:
“We are delighted to welcome HCI as a shareholder and investor in H2Au, and John and Rob to the board of directors. HCI’s existing strength in the renewables and energy sector makes them an ideal cornerstone investor, and we look forward to a long partnership ahead.
We have kick-started our acquisition plan and are confident in securing a valuable and exciting portfolio through 2024.
This investment is a major milestone both for H2Au and for the emerging natural hydrogen industry, signifying the growing recognition in natural hydrogen as a future energy resource.”
Background
Hosken Consolidated Investments Limited (HCI) is a black empowerment (B-BBEE) investment holding company founded in 1973 and listed on the Johannesburg Securities Exchange (JSE: HCI). HCI Group recorded a 2023 annual income of over 22 billion Rand (approx. $US1.2b) in its financial statements for the year ended 31 March 2023. In addition to Natural Hydrogen, it holds investments in a diverse group of sectors including hotel and leisure, interactive gaming, media and broadcasting, transport, mining, solar, oil & gas and properties.
John Anthony Copelyn has been CEO of HCI since 1997. Prior to this he was a member of Parliament and general secretary of the Southern African Clothing and Textile Workers’ Union. He is the chairperson of the HCI subsidiary companies Deneb Investments Limited, eMedia Holdings Limited and Tsogo Sun Limited and associate company Southern Sun Limited which are listed on the Johannesburg Stock Exchange.
Rob Nicolella is a chartered accountant and has attended a leadership and development programme at Harvard University. During his 18-year tenure at Investec Bank, Rob headed the Structured Finance Division (Western Cape) and thereafter, Private Bank Western Cape. He joined the HCI Group in 2011 to develop the HCI Properties portfolio. He is a director on the boards of Southern Sun Limited and Frontier Transport Holdings Limited. Rob was appointed to the board in May 2019 as an executive director and as financial director from August 2019.
For further questions, please contact:
Owain Jackson
CEO
M: +44 (0) 7500 013 589
About H2Au Limited
H2Au is a natural hydrogen exploration company headquartered in the UK. The company’s mission is to commercialise natural hydrogen exploration & production, utilising science-led play-based models from the oil & gas and mining industries. Since acquiring its first round of funding, the company has focused on portfolio expansion.
