On October 15, during the Shareholders’ Meeting, the INNO-GENE S.A. shareholders adopted resolutions regarding the amendment of the Articles of Association, the change of the company name, and the issue of series H shares.
The shareholders decided to expand the activities of the Capital Group to include the technology for the production of green hydrogen and e-methanol. In accordance with the content of the adopted resolutions, INNO-GENE S.A. acquired 150,000 shares of Hydrogenium Prosta Spółka Akcyjna based in Lublin (“HYDROGENIUM”), constituting 73.17% of HYDROGENIUM’s share capital, in exchange for 27,380,000 ordinary bearer shares of series H issued by INNO-GENE S.A., which – after the registration of the New Issue Shares – will constitute 81.53% of the company’s share capital and the total number of votes at the company’s General Meeting.
The company informed about signing an annex to the investment agreement with HYDROGENIUM, under which INNO-GENE will acquire up to 94% of the share capital of the subsidiary by the end of the year.
In connection with the acquisition of HYDROGENIUM, the current activities of the Issuer’s Capital Group will be expanded to include the production of hydrogen, e-methanol, and carbon dioxide based on the technology of plasma gasification of biomass.
“I am glad that our Shareholders accepted the change program, and the General Meeting unanimously adopted all resolutions without objecting to them. We want to actively participate in the green revolution in the industry and move away from energy obtained from fossil fuels. Currently, we are focusing on talks with potential partners interested in our installation and with institutions financing our large-scale industrial project,” said Jacek Wojciechowicz, President of INNO-GENE S.A.
HYDROGENIUM is a technology company, the owner of the IP of the biomass gasification technology in a plasma environment, on which research and analyses have been carried out for over 20 years. During this time, a solution has been developed that allows for a very high conversion of biomass into synthesis gas, which can be used for the production of green hydrogen or e-methanol.
The breakthrough technology allows for economical and mass production of hydrogen from a wide range of different types of biomass or waste. The produced synthesis gas can be converted into methanol or other e-fuels or used in the production of green feedstock for the chemical industry, which increases the versatility of the innovative technology.
“I am extremely proud to have taken another step in our joint plan, which we are consistently implementing. We have a unique technology with much better efficiency parameters than obtaining hydrogen through the use of electrolyzers. We want to take advantage of our advantages on the international market,” says Maciej Ganczarski, Managing Partner of the company.