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    Court Approves Real Energy, Strata-X Merger

Summary

The normal trading of the shares of the merged entity, Pure Energy, will start in Sydney on March 18.

by: Shardul Sharma

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Complimentary, NGW News Alert, Natural Gas & LNG News, Asia/Oceania, Corporate, Mergers & Acquisitions, News By Country, Australia

Court Approves Real Energy, Strata-X Merger

The merger of Australian explorers, Real Energy and Strata-X Energy, has been approved by the federal court of Australia, Real said on March 5.  

The merger will be effective on March 8, and shares of Real will be suspended from trading on the Australian Securities Exchange on the same day. The normal trading of the shares of the merged entity will start in Sydney on March 18. 

Pure Hydrogen is joint venturing with Liberty Hydrogen to set up four east coast Australia hydrogen manufacturing and distribution hubs. It is also studying the commercial viability of building, owning and operating a hydrogen fuel plant in Queensland with a minimum capacity of 36mn kilograms/year. Potential sites for the plant are being reviewed in the Surat basin, adjacent to Real’s existing 50%-owned Project Venus coalbed methane project, and near Gladstone. 

Pure Hydrogen recently signed a memorandum of understanding with US-based Hyzon Motors on jointly developing hydrogen refuelling points in Australia.