Australia's Global Energy Ventures (GEV) is adding AUD 12m ($8.8m) to its bank account to fund work on its compressed hydrogen carrier design and a domestic export project.
The Sydney-listed company has binding commitments for a private placement of 80m shares to raise AUD 10m at $0.125 per share, representing a 10.5% discount to the 15-day average.
It will also launch a share purchase scheme to add a further AUD 2m.
