Our Projects

Countrywide Hydrogen Pty Ltd investment

In February 2022, ReNu Energy completed the acquisition of 100% of Countrywide Hydrogen Pty Ltd (Countrywide Hydrogen) through the issue of 134,659,520 fully paid ordinary shares at $0.0688 each. Countrywide Hydrogen is an Australian company that originates Green Hydrogen projects to develop them in collaboration with project partners and governments. The transaction provides access to the growing green hydrogen industry through three Australian onshore green hydrogen opportunities under initiation with state governments and large partners. Countrywide Hydrogen also has a pipeline of opportunities in Canada and the USA.

Countrywide Hydrogen targets domestic supply with a view to expand projects for future export demand. Its business model is to retain equity through project development and into revenue generation. The acquisition includes the proposed appointment of Countrywide Hydrogen’s Managing Director, Mr Geoffrey Drucker and Non-executive Chair, Ms Susan Oliver AM to ReNu Energy’s Board of Directors.  Further details can be found at https://crh2.com.au/

Allegro Energy investment

ReNu Energy is advancing its renewable and clean energy incubator/accelerator strategy through an investment in energy storage solution and battery technology company, Allegro Energy Pty Ltd (Allegro).

Allegro has developed a unique water-based electrolyte, which can be used in the development of high performance, safe, non-toxic, non-flammable supercapacitors and redox flow batteries at a significantly lower cost than those currently available in the market.

Allegro’s technology was developed in 2017 by Allegro’s Founders at Victoria University of Wellington (NZ). Allegro holds an exclusive worldwide licence from Wellington UniVentures to commercialise the technology and an exclusive option to acquire full ownership from Wellington UniVentures for cash payment or issue of Allegro shares. The technology is patented in Australia, New Zealand, China and Europe and patent applications have been made in the US and Japan.

Enosi Australia investment

ReNu Energy is advancing its renewable and clean energy incubator/accelerator strategy through an investment in renewable energy tracing company, Enosi Australia Pty Ltd (Enosi).  ReNu Energy entered into a Subscription Agreement with Enosi in September 2021, under which it will invest $500,000 in two equal tranches.

Through the investment, ReNu Energy will gain access to a company at the forefront of developing a new class of ‘Energy as a Service’ (EaaS) technology.

Technologies to measure renewable energy usage and trace carbon free energy will be vital to achieving ambitions for round-the-clock 100 per cent renewable energy. Enosi is an Australian company that has developed Powertracer, a first-of-its-kind grid scale renewable trading and tracing solution. Powertracer enables corporations and individual customers to trace their renewable energy mix 24/7 and enables energy retailers to sell this clean energy direct at prices specific to the source of the energy.

Powertracer achieves this by providing full traceability so that consumers can see exactly where their energy is generated. The platform matches units of energy produced by generators and units consumed by customers. Enosi’s software uses scalable cloud-based technology to trace the energy from renewable sources, apply differentiated pricing and reveal the true renewable content of the energy purchased.

Tracing carbon free energy is quickly becoming the next global sustainability benchmark and Enosi has built the platform to address this need and enable traceability from source to socket 24/7. Further details can be found at https://enosi.energy/

Uniflow Power cornerstone investment

ReNu Energy is advancing its clean energy incubator/accelerator strategy through the acquisition of a cornerstone interest in Uniflow Power Limited (Uniflow), an unlisted public company commercialising a patented micro renewable energy generator powered by biomass – known as The Cobber.

Presently designed for production of around 4.5kW of electrical power and 20kW thermal energy, the Cobber has the potential to displace fossil fuels including diesel, petroleum, coal and kerosene. The Cobber is patented across major identified markets globally, has applications in both developed and developing economies, and has received expressions of interest from Southeast Asia, and South America. Further details can be found at www.uniflowpower.com

Opportunities for both heat and electricity applications in markets already targeted by the Cobber are forecast to increase significantly over the coming decades in order to meet emissions reduction targets, such as those outlined in the International Energy Agency’s roadmap for the global energy sector to reach net zero emissions by 2050, released in May 2021.

ReNu Energy’s investment comprises a $0.25 million working capital loan by convertible note and, at ReNu Energy’s election, equity investments of $0.75 million and $0.50 million on or before 1 October 2021 (which can be extended) and 1 March 2022 respectively.  ReNu Energy also has 3 free attaching options for every share acquired at an option exercise price equal to the share issue price and expiring at various dates.

The initial investment will fund Uniflow’s business plan to complete its Canberra demonstration project for The Cobber in Q3 and the construction and testing of additional units to optimise design parameters and determine the most cost-effective methods for manufacture and distribution. With significant interest already expressed in this unique Australian renewable energy technology, ReNu Energy has an exciting six months ahead of it as we work closely with Uniflow to showcase the technology in Canberra and plan the engineering facility.

Prior projects

During the 2020 financial year, ReNu Energy divested its portfolio of renewable energy assets, allowing the Company to repay all debt, recapitalise the business and restructure its cost base.  In April 2021 ReNu Energy completed the abandonment of the two remaining geothermal wells (Habanero 3 and 4) located in the Cooper Basin of South Australia.  Following these activities and the Company’s well supported $1.46m capital raising announced on 2 June 2021, ReNu Energy is well positioned to execute investment opportunities in the clean energy sector.

Sale of Solar Assets & Energy Retailing Business

In September 2019 ReNu Energy completed the sale of its solar operations to CleanPeak Energy Pty Ltd. The transaction involved the sale of the ReNu Energy subsidiaries holding the Embedded Networked Operations, Amaroo Solar PV Facility and the energy retail authorisation.

Sale of Bioenergy Assets

In August 2020 ReNu Energy completed the sale of its 30% interest in the Goulburn and Beaudesert Bioenergy Projects to its Alliance Partner, Resonance Water Finance UK Limited.