Home ANTBITES (Media Releases) Fuel cell power tech developer Hydra Light is looking to secure $5...

Fuel cell power tech developer Hydra Light is looking to secure $5 million to drive the future of alternative energy solutions

Gerry Comninos, CEO Hydra Light

Hydra Light International Limited, the developer of unique fuel cell power technology, is pleased to announce that, having finalised its business development phase of the HydraCell technology and product offering, the Company is seeking to raise $5 million to continue business development and marketing efforts in the USA and work towards its global growth strategy.

Hydra Light International is currently looking to raise up to $5 million through the issue of 5 million shares at $1.00 per share via an Information Memorandum to Professional and Sophisticated Investors.

Hydra Light International’s Board and Management are heavily invested in the Company with exposure to 11.836 million shares (56%) on issue. Once this quantum of capital has been raised, the Australian unlisted company will have a market capitalisation of $26 million.

What does the company bring to the table?

Hydra Light International’s fuel cell technology, the HydraCell™, generates its own power when activated by dipping it in water.

Hydra Light International’s products and technology are aimed at reducing the waste associated with single-use batteries, improving the quality of life of communities without reliable electricity, and raising awareness of alternative energy solutions.

The HydraCell has many advantages over other technologies, particularly traditional dry-cell alkaline batteries and kerosene, including generating its own power when activated, a potentially infinite shelf life of a number of decades, long use life of over 250 hours once activated, and the HydraCell is fully recyclable, with biodegradable capabilities.

“Our revolutionary HydraCell technology harnesses the power of water and air to create a natural chemical reaction and capture the electrons released during this process,” said Gerry Comninos, CEO of Hydra Light International.

“The usage time of one HydraCell is the equivalent of 30 traditional dry-cell alkaline batteries, and best of all, is fully recyclable, free of toxic corrosive materials, is non-hazardous unlike kerosene, and will dramatically reduce disposable battery waste in landfills.”

What does this phase mean for the company?

“Hydra Light International is pleased to be entering a new phase in our business development and growth strategy having spent considerable time perfecting the HydraCell technology and product offering and building strong relationships with independent distributors and sales groups across many parts of the world,” said Mr. Comninos.

“The Company has been well capitalised to date, with almost $12 million already invested, and is generating revenue through current sales to key distributors and is presently fulfilling production orders for customers in the Europe, China and Australia, New Zealand and the USA.

“The Company has also had material success, through the joint venture with Infomercials Inc. in the USA, in proving that the technology and the products are marketable.

“The funds raised through this capital raise will be used to continue the strategic growth strategy we currently have implemented in USA, as well as to help grow and expand the Company globally, and take advantage of business opportunities, as HydraCell technology expands its reach.”

What is the company doing at the moment?

Hydra Light International has identified four key market sectors for its products; emergency preparedness, NGO and aid agencies, off-grid communities, security and military, and automotive and marine.

These are in addition to the lifestyle and outdoors sector already targeted by the Company’s active presence in USA via Infomercials Inc. (USA TV shopping channel).

Hydra Light International operates from its Melbourne base, and has offices in the Philippines and in China and has an active presence in the UK, Canada and the USA.

Extensive sales and marketing efforts have already been undertaken with 29 containers of product already supplied into USA’s Infomercials Inc., Green Supply (distributor in USA) and Australian distributor, Breon.

The sale of products through Infomercials Inc. continues to grow, with Infomercials successfully penetrating the retail chain sector in the USA during the last quarter of Calendar Year 2018, amongst other retail chains, Walmart Inc. (3,500 stores) and Walgreen Inc. (8,500 stores).

Hydra Light International is in the process of completing five production orders for distributors in UK, China, Australia and New Zealand, and one large e-commerce platform in the USA.

With growing momentum, the Company will increase its business development activities by seeking additional global distributors and executing comprehensive growth strategies in high yield countries (i.e. the USA) across retail chains and direct end consumer campaigns through e-commerce platforms and TV shopping networks.

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