poseidon marine h2 company logo

Poseidon Marine H2

“Decarbonising The Marine Industry Through State-Of-The-Art Technology”

Building a patented, maritime technology with the versatility to allow boats to operate off both hydrogen and diesel fuels

Business Highlights

Poseidon Marine H2 is building a versatile boat that will operate on multiple fuels, including hydrogen and diesel.

  • Unique opportunity to invest in a seed-level company
  • A clear pathway to a planned listing on a major exchange in Q1 2024 to commercialise the product
  • The product will allow customers and manufacturers to purchase their proprietary technology — expected to be provisionally patented in September 2022
  • The boats will operate off current fuels and a carbon-free alternative when infrastructure is in place
  • Goal is to ensure the solution being developed has an equivalent operational range, requires less maintenance and is cheaper to run than other current technology
  • The registered IP will be used to form licensing agreements with large manufacturers and industrial/public contracts with defence forces, ferry operators, police bodies and other major maritime sectors around the world
  • Directors are already speaking with major boat manufacturers to form off-take agreements
  • As an industry-first technology, the intent is for the solution to be adopted as the global standard for hydrogen boating, which will open up to substantial royalty opportunities

Road map to a public listing
Stage 1: Engineering Proof of Concept (Completed in Q3 2022)

  • Technical feasibility study to determine compliance to current marine standards while integrating hydrogen as the fuel source.
  • Validation for insurance industry compliance.
  • Registration of IP.
  • Begin speaking with large boat manufacturers to form offtake agreements.

Stage 2: Engineering Design (Completed by January 2023)

  • Detailed engineering & design for the complete marine vessel.
  • Begin taking pre-orders for boats by Q3 2022.
  • Large offtake agreement secured by Q3 2022.

Stage 3: Building the boat (Completed by August)

  • Procure parts & manufacture components.
  • Assemble marine vessels.
  • Testing & validation.
  • The proof of concept will be showcased to potential customers and manufacturers interested in licensing agreements.
  • Secure large public contracts with the ADF, policing bodies or ferry operators.

Stage 4: Boat built, is operational and commissioned (Completed by September 2023)

  • Sea trialling begins.
  • Take orders for manufacturing vessels.
  • Licence the IP to existing OEM vessel manufacturers.

Stage 5: Seek a listing on a major exchange (Completed by February 2024)

  • Planned listing on a major exchange to fund the commercialisation of the technology.

Transaction Overview

The company is raising A$500,000 at A$0.041 per share, with a pre-money valuation of ~A$4M before looking to go public on a major exchange in February 2024.

Offer Details
Indicative Capital Structure
Current Shares on Issue

103,310,000

Indicative minimum new Shares to be Issued pursuant to the Placement 12,195,122
Indicative total Shares on Issue at Completion of the placement 115,505,122
Options on Issue (expiry Dec 31, 2028) 20M @ 1c, 4M @ 20c 24,000,000
Placement Type & Size $500k via the issue 12,195,122 shares
Issue Price $0.041 per fully paid ordinary share.
Pre-Money Valuation A$4,235,710
Indicative Valuation Post-Offer

 

 

 

 

Use of Funds

The capital raised will fund the projects:

– Fast-tracked development of hydrogen-powered boat

– Operational costs of engineering design house

– General working capital requirements and costs associated with engineering processes

 

Company Overview

Poseidon Marine H2 is on a mission to construct one of the world’s first hydrogen-powered boats by Q3 2023, that will meet the rapidly growing demand for technology and will decarbonise the maritime industry.

To achieve this, they are building a versatile boat that will operate off multiple fuels, including hydrogen and diesel.

This forms a key part of their strategy, as it will allow customers and manufacturers to purchase their patented technology that operates off current fuels as a carbon-free alternative.

The company will ensure its product is commercially competitive by focusing on building a better boat that has an equivalent operational range, requires less maintenance and is cheaper to run than traditional engines.

The technical partner, Dynamic Efficiency, has engaged Avesta Consulting to produce a finite element analysis and Bureau Veritas Marine & Offshore to lead the certification process so the product can be underwritten by insurers.

They have also commenced the testing on hydrogen fuel cells which will optimise their performance.

These partners will give Poseidon Marine H2 a finite element analysis, a digitalised proof of concept, insurance certification and a provisional patent by late 2022, which will provide the basis to negotiate offtake agreements with large boat manufacturers.

The company will also target substantial contracts with defence forces, ferry operators, police bodies and other major maritime sectors around the world.

Following this, the company will commence building a prototype boat, which will be supported by strategic partner Griffith University who will share their resources to help accelerate the process, while also providing their technical expertise.

With the design of the technology on track to be finalised, the company is expected to have proof of concept in the water by Q3 2023, which will see them seeking a planned listing in Q1 2024 to finance the commercialisation of their product.

Once they begin delivering the product to customers, they will begin developing their technology further so it has utility across the global marine sector.

Poseidon Marine H2’s Directors and Avesta Consulting’s Director with the sketching of the technology (sketching blurred due to IP constraints). Left to right: Brad Glass (Avesta Consulting), Peter Mastalir (Poseidon Marine H2), Kevin Morgan (Poseidon Marine H2) and Yianni Chapley (Poseidon Marine H2)

Legacy Engineering Firm Leading Certification

Multiple Partnerships

80+ Years combined Engineering Experiance 

Rare Pre-IPO Opportunity

Videos

Announcements

July 2022
Strategic Partnership with Griffith University

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July 2022
Experts Back Poseidon Marine H2

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July 2022
Bureau Veritas Engaged to Lead Certification

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July 2022
Avesta Consulting to Deliver Proof of Concept

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Team

Peter Mastalir

Director

Kevin Morgan

Director

Ian Abouloukme

Director

Yianni Chapley

Director

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