PERTH-BASED alternative energy company Eden Energy Ltd listed on the Australian Stock Exchange earlier this week, announcing an aggressive project schedule for the international rollout of a new breed of hydrogen fuel technologies. Eden shares traded for the first time on the ASX at 18 cents a share, down two cents on its issue price. At the time WA Business News went to press, shares were trading at 17.5 cents. The company closed its IPO early at $8.4 million, short of its $10 million offer – citing the early cut-off on the urgency to progress critical elements of its key projects. Eden listed with a total of 122.3 million shares on issue and was valued at listing at $24.5 million. Eden chairman Greg Solomon said the company had secured a suite of proven hydrogen technologies and patents, which were sufficient to enable national economies to immediately start converting to hydrogen use with major pollution reduction, and vehicle manufactures to convert engines to a range of hydrogen fuels. “There is no reason why Perth-based Eden cannot play a major role in the global shift to hydrogen fuelled economies, such is the significance of the Eden technology package,” Mr Solomon said. Before the IPO, Eden’s potential world-class energy projects had attracted over $5 million in support in previous capital raisings.
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