GreenHy2 Raises $990K, Advances 1MWh Hydrogen Storage Project with Telstra
GreenHy2 Limited has strengthened its cash position to $1.58 million while progressing its flagship Telstra hydrogen storage project and expanding its battery technology portfolio.
- Cash increased to $1.58M following a $990k placement
- Telstra project on track for Q4 operation with solar, battery, and hydrogen storage
- Advancing supercapacitor and sodium ion battery technologies
- Tender submissions underway for large-scale battery supply with NT Power and Water, TasNetworks, and Vodafone Fiji
- Operating cash flow negative $99k; funding sufficient for 19 quarters
Strong Cash Position and Strategic Funding
GreenHy2 Limited (ASX, H2G) reported a robust increase in cash reserves to $1.58 million at the end of June 2025, nearly doubling from $814,000 in the previous quarter. This boost was primarily driven by a $990,000 placement to a shareholder with a long-term commitment to the renewable energy storage sector. The company’s financial footing now supports an estimated 19 quarters of operations based on current cash flow and available financing facilities.
Progress on Telstra Hydrogen Storage Project
The company’s marquee Telstra project is advancing steadily, adhering to budget and schedule. This initiative integrates 70kW of solar power, 250kWh of battery storage, and a substantial 1MWh hydrogen storage system. Installation of major equipment is underway following completion of civil site works, with testing and commissioning slated for the third quarter and full operational status expected by the fourth quarter of 2025. Telstra’s commitment includes $1.5 million funding, matched by a grant from TDRIP, underscoring the strategic importance of this trial to replace diesel generators at telecommunications sites.
Expanding Battery Technology Portfolio
GreenHy2 is actively negotiating with original equipment manufacturers to secure commercially available technologies that offer superior safety, longevity, and cost-effectiveness. The company is advancing discussions around supercapacitor and sodium ion batteries, positioning itself as a leader in non-lithium-ion energy storage solutions. These technologies are targeted at telecommunications, residential, community battery, data centre, and off-grid markets. Notably, Vodafone Fiji has shown interest in both supercapacitor and sodium ion batteries as safer, longer-life alternatives to diesel-powered systems.
Market Opportunities and Tender Activity
GreenHy2 has submitted expressions of interest for substantial battery supply contracts, including approximately 289MWh for NT Power and Water and 366MWh for TasNetworks. The company is also tendering for remote site battery supply with Vodafone Fiji. These opportunities reflect growing demand for safer, cost-competitive energy storage solutions that can replace traditional diesel systems in critical infrastructure.
Operational and Financial Outlook
While operating cash flow was negative $99,000 for the quarter, this reflects ongoing investment in technology development and project execution. Payments to related parties, including executive and non-executive directors, amounted to $184,000. GreenHy2 continues to test its telecommunications battery offerings at UNSW and in-house facilities, refining safety, life, and cost parameters. The company’s diversified technology approach and strategic partnerships position it well to capitalize on the evolving renewable energy storage market.
Bottom Line?
GreenHy2’s advancing projects and strengthened cash position set the stage for critical upcoming milestones and market expansion.
Questions in the middle?
- How will testing outcomes from the Telstra project influence broader commercial adoption?
- What are the timelines and likelihood of securing major battery supply contracts with NT Power and TasNetworks?
- How competitive will GreenHy2’s non-lithium-ion technologies be against incumbent lithium-ion solutions in cost and performance?
