THE COMPANY
Based in Perth, Western Australia, Infinite Green Energy Limited (IGE) is a renewable energy company delivering zero-emission solutions to domestic and international markets. The company is developing a range of hydrogen projects that are currently underway in Australia and Italy.
THE OPPORTUNITY
Request: $35 million in common stock
Use of Funds: Development of Green Hydrogen Projects
Industry: Renewable Energy
Location: Perth, Western Australia (WA)
https://igeh2.com/
https://uscapglobalsecurities.docsend.com/view/s/tu5pvw85g9uz7kag
THE PROJECTS
MEG HP1 (Australia): IGE is developing WA’s first large-scale renewable green hydrogen generation project called “MEG HP1”, in Northam, WA. The company has secured binding MOUs/JDAs with Samsung & Doral Energy Group as equity partners for this project.
At the facility, IGE will produce, compress, and store hydrogen, ready for distribution to Hydrogen Refuelling Stations planned at Northam, Perth Airport, and Bunbury. The green power will be supplied by an existing IGE-owned solar farm, with potential expansion of 8.5MW DC solar PV and 15 MW of wind. It will also provide up to 90kL per day water supply. The project is set to have a production capacity of ~4tonnes/day and store around 9,000kg of hydrogen, targeting initial production in mid-2026.
Arrowsmith (Australia): IGE intends to use the learnings from the MEG HP1 project to accelerate the delivery of the Arrowsmith Hydrogen Production Facility. It is expected to generate up to 22-41tonnes/day of green hydrogen, by 2026, targeting the trucking and transport sectors. The project will also include six fuel stations tied into existing networks. The green power will combine solar, wind, and intelligent batteries.
The Arrowsmith freehold land for domestic production mainly targets the Asian customers with a production capacity of around 248 tonnes per day. Green power will be scaled up from the Arrowsmith Domestic operation, combining an anticipated on-site solar of around 563MW, wind turbines of 1,200MW, and access to 330kV from a ‘green grid’. The project is in final review with the Yamatji Southern Nations and has partnered with Samsung C&T and Prostar Capital.
The company has raised multiple rounds of financing to date. One of its notable investors include UK Export Finance (UKEF), that has issued a letter of support for up to A$245 million for Arrowsmith, and IGE is awaiting a letter of A$70 million for MEG HP1 in Northam.
Valle Peligna (Italy): The Valle Peligna project, one of the first green hydrogen projects in South Europe, spanning over 2000 hectares, aims to produce 12 tonnes of green hydrogen daily. The initial project will have 45MW solar and 72MW wind renewable energy.
Other Projects: In addition to these projects, IGE also jointly owns a company in New Zealand and is working with its partners to study a green Ammonia or Liquid Hydrogen production facility with export from the Port of Taranaki. Petrofac is assisting IGE with local resources for the initial engineering of this project. The company also plans to acquire Hydrogen Trucks & Tankers to distribute its next-generation LH2 trucks, which are 130-150tonnes in design and the backbone of Australia’s heavy haulage.