Patriot Hydrogen has secured a significant financing deal to fund its growth and provide the capital for its three projects in Millfield, Kimberely, and Malaysia.
The well-timed cash injection will also support the Company’s planned public listing on a major exchange in Q3 CY23.
With recent international expansion into Asia and dozens of inquiries from clients across the globe, Patriot has positioned itself for upward growth in 2023 and expects three biomass-to-renewable energy units to be operational by early next year.
“This is a game changer for Patriot and a reflection of the strong position the Company has placed itself in,” says Patriot Chairman, Glenn Davies. “Over the past 12 months, we have secured multiple projects, fabricated our first unit, and shown a strong market demand for our renewable hydrogen technology.”
“Once we have our first plants up and running, we anticipate we will see a huge spike in demand for the revolutionary Patriot Units, which take multiple waste streams as feedstock, and produce five high-value revenue streams; syngas (dense hydrogen) for fuel or generating renewable electricity, biochar for agriculture, carbon credits, and wood vinegar for farming.”
The Company is in a unique position to deliver on this demand as they have proven manufacturing & EPC partners that custom-design the units to generate multiple green energy outputs from various forms of waste.
Currently, Patriot is booking shipping dates to transport the Plant from its location at Nhava Sheva Port, India’s second-largest container port, to an important port in Malaysia for commissioning in Q1 CY23.
Patriot’s Malaysian project has recently secured its Environmental Approvals & permits and has started hiring the operations team to run the Plant.
The Company is also working hard to progress its projects at Kilto Station in the Kimberley, Western Australia, and the Millfield Sawmill in New South Wales. Patriot has long-term land and feedstock agreements in place for all projects.
“With funding and contracts secured, Patriot expects to deliver significant value in 2023 by providing a ‘right now’ solution to the climate emergency. The team can now focus on delivering our first biomass to green hydrogen unit in 2023.”