H2Gro has launched today with ambitions to develop Australia’s green fertiliser industry and expects to have a commercially operating production facility by Q4 2023.
The company was formed after seeing the impact of the global shortage in fertilisers which has led to subsequent price increases and is threatening the supply chain for Australian farmers.
“To combat this global challenge, H2Gro was established with the ambition of building a homegrown green fertiliser industry to ensure sovereignty over the nation’s food & agriculture supply,” says H2Gro Director, Tim Brooks.
The company intends to fill this large gap in the market by becoming Australia’s first industrial manufacturer of green urea fertiliser, which will help provide reliable supply for the Australian $5.3b fertiliser industry and lower the current reliance on importing carbon-intensive fertiliser from overseas manufacturers.
Once the agreements are in place, the plant is designed and building permits are approved, H2Gro will seek a listing on a favourable exchange in Q1 2023 to finance the production of their facility.
The company is set to launch a capital raise in the coming weeks to fund the initial stages of developing the plant.