- Lion Energy (LIO) enters a trading halt as it plans an upcoming capital raise
- While primarily focused on conventional oil and gas in Indonesia, the energy stock has been pursuing potential green hydrogen opportunities in Australia
- As part of this, it recently partnered with BLK Auto to assess hydrogen transport and infrastructure capabilities for Australian businesses wanting to decarbonise their vehicles
- However, Lion Energy hasn’t disclosed how much it’s raising or how it will spend the funds but these details should be released by November 17 when it comes out of the halt
- Company shares last traded at 9.7 cents on November 12
Lion Energy (LIO) has entered a trading halt as it plans an upcoming capital raise.
The oil and gas company is primarily focused on conventional oil and gas development and production, and has operated in Indonesia for over 20 years. However, the energy stock has recently started to explore green hydrogen opportunities in Australia.
Last week, the company signed a memorandum of understanding with BLK Auto to jointly assess opportunities surrounding hydrogen transport and infrastructure in Australia.
This followed BLK unveiling the country’s first hydrogen-powered coach in partnership with New York-based supplier Hyzon Motors.
Lion and BLK will collaborate on marketing and commercialisation opportunities that will leverage both of their capabilities to provide hydrogen transport and hydrogen infrastructure opportunities for Australian businesses wanting to decarbonise their vehicles.
Lion Energy hasn’t disclosed how much it expects to raise or how it will spend the funds but these details should be released by November 17 when it comes out of the halt.
Company shares last traded at 9.7 cents on November 12.