NH3 Clean Energy Raises $710,000 to Advance WAH2 Clean Ammonia Project

NH3 Clean Energy Limited has successfully raised AUD 710,000 in a funding round through the placement of fully paid ordinary shares to both existing shareholders and new sophisticated investors, including institutional backers. The capital raise exceeded the company’s initial target of AUD 600,000.

The placement will result in the issue of approximately 23.67 million shares at AUD 0.03 per share. This pricing represents a 9.09 percent discount to NH3’s most recent share price and a 1.35 percent premium to its one-month volume weighted average price.

Company officers collectively subscribed to more than 10 percent of the placement, with directors contributing AUD 51,499 for 1.72 million shares. While most of the shares will be issued under NH3’s existing capacity in accordance with ASX Listing Rule 7.1A, the director-related shares are subject to shareholder approval at a forthcoming general meeting.

Funds from the placement will be directed toward the development of NH3’s flagship WAH2 Project, a leading clean ammonia export and bunkering initiative based in Western Australia. Proceeds will support early-stage work and contractor engagement for the Front-End Engineering and Design phase, expected to begin in the third quarter of 2025. The capital will also be used to advance offtake agreements, strategic partnerships, project financing efforts, and regulatory approvals.

NH3 Chairman Charles Whitfield thanked shareholders for their continued backing and highlighted growing interest from institutional investors. “The placement reflects the confidence in NH3’s strategic direction and the continued progress of the WAH2 Project,” he said. “It is encouraging to see premium valuations compared to previous raises, underscoring our disciplined approach to value creation as we move closer to final investment decision milestones.”