Patriot Hydrogen enters into a financing agreement to grow and provide capital for three projects. These are located in Millfield, Kimberley, Australia and Malaysia. The cash will support the company’s public listing on a major exchange in Q3 CY23.
Growth on the rise
Patriot Hydrogen is experiencing international expansion in Asia and dozens of customer requests worldwide. As a result, the company is forecasting increased growth for 2023. It also plans to have three biomass-to-renewable energy units operational by early 2023.
Patriot Hydrogen president Glenn Davies says:
“This is a game changer for Patriot and reflects the strong position the company has placed itself in. Over the past 12 months, we have secured several projects, manufactured our first unit and demonstrated strong market demand for our renewable hydrogen technology.”
The company expects demand for its units to increase once the first plants are operational. Patriot Hydrogen uses several waste streams as feedstock that produce five revenue streams.
The company is well positioned to meet the demand. Indeed, Patriot Hydrogen says it is working with proven manufacturing and EPC partners. They custom design the units to generate multiple green energy outputs from various forms of waste.
Multiple projects
Currently, Patriot Hydrogen is booking shipping dates to transport the plant from its location at the Port of Nhava Sheva, India. The goal is to move the facility to a major port in Malaysia. In addition, commissioning would take place in the first quarter of 2023.
The Malaysian Patriot Hydrogen project has the necessary environmental approvals and permits. In addition, the company begins hiring the operations team to run the plant.
Patriot Hydrogen is also advancing its projects at the Kilto Station in the Kimberley, Western Australia. In addition, the company is also working on the project located at the Millfield sawmill in New South Wales. In addition, the company implements long-term land and raw material agreements for all projects.
