Axion buys stack in Hydrogen Investee; Next Hydrogen on OTC; DeFi project advances
Axion has also approved a name change to be released in the near future.
Axion Ventures Inc. has signed a definitive agreement to acquire a 50% partnership stake in H2CI KuniUmi Asia, Inc. (Hydrogen Investee Co).
Hydrogen Investee Co retains the exclusive, perpetual commercialisation rights of the patented Canadian technology that refines green hydrogen economically and at scale. The commercial extraction operations commencing in Q1 2022 in Quebec, Canada. The Company is acquiring the stake from KUAM (Hong Kong) Investment 02 Ltd. (KUAM02) on a US$1 and a trailing earnout of US$1 per kg of each hydrogen and oxygen extracted and sold by Hydrogen Investee Co for two years from the completion date expected in October 2021. Hydrogen Investee Co expects to produce over 18k kg/day of hydrogen and oxygen in aggregate from its first phase of commercial production starting in early 2022. It will expand to the second phase during 2022 with over 100k kg/day.
In a separate development, Next Hydrogen Solutions Inc. (a designer and manufacturer of hydrogen electrolysers) has started trading its common shares on the OTCQB Venture Marketplace, a US trading platform operated by the OTC Markets Group in New York. Cross-listing on the OTCQB will make it significantly easier for US investors to invest in the company. It also incorporated a US subsidiary, Next Hydrogen USA, Inc., to support its US expansion plans and seek US renewable energy grants and incentives, participate in US infrastructure projects and expand Next Hydrogen’s sales opportunities.
In another development, the Hydrogen Economy project is developing a DeFi platform powered by the HDGN token. The platform’s operational profit will be used towards the project’s main aim which is to invest in the global hydrogen market. The portfolio will constitute the essential contributors of the dynamic hydrogen ecosystem and ultimately reward HDGN token holders through long-term value creation. Hydrogen Economy (HDGN) is a Binance Smart Chain-based DeFi project to develop and leverage a sustainable DeFi ecosystem to support global hydrogen segment initiatives on the road toward carbon neutrality. The platform’s native token, Hydrogen (HDGN) features autonomous yield and liquidity generation. Notably, hydrogen has a total supply of 150 million tokens and a diluted market capitalisation of $1.5 million. It has also recently been listed on PancakeSwap.