FIRB APPROVAL AND APPOINTMENT OF ANDREW HINKLY TO BOARD OF HAZER GROUP
PERTH, AUSTRALIA;
12 APRIL 2021:
Hazer Group (ASX: HZR) is pleased to announce that AP Ventures Fund II GP LLP has received approval from the Foreign Investment Review Board (FIRB) for their $4 million investment in Hazer Group previously announced to the ASX on 30 November 2020 and approved by Hazer shareholders on 12 January 2021.
With the receipt of this approval, there are now no outstanding conditions to the investment agreement with the receipt of funds. The issue of the convertible notes and options under the agreement is expected to be completed promptly.
With completion of the transaction, the Board of Hazer Group is delighted to announce that Andrew Hinkly, Managing Partner of AP Ventures, has been invited to join the Board of Hazer Group.
Andrew Hinkly is the Founding Managing Partner of AP Ventures. As Managing Partner at AP Ventures, Andrew has been involved in numerous investments in the hydrogen sector across all aspects of the hydrogen value chain.
Prior to AP Ventures, Andrew has enjoyed a high profile career spanning more than 25 years working in commercial roles across the automotive and mining industries, including senior leadership positions at Anglo American, where he worked for a decade and was a member of Anglo American Platinum Executive Committee, and the Ford Motor Company where he was a member of the North American Executive Committee.
At Ford, he led the Production Procurement operations of Ford Americas and was responsible for $45 billion of annual purchases from over 40,000 suppliers.
Andrew has an MBA from the University of Manchester and a BSc in Civil Engineering from the University of Loughborough.
Tim Goldsmith, Chair of Hazer Group said, "We are delighted to complete this investment by AP Ventures and welcome Andrew Hinkly to the Hazer Board.
We look forward to Andrew's contribution to the Board of Hazer and working closely with AP Ventures as we commercialise our Hazer technology.
AP Ventures' extensive presence in the hydrogen market and global network of investment companies and partners provides them with a unique insight into the rapidly evolving hydrogen market; we look forward to working with this knowledge to accelerate our own development.
Andrew's extensive commercial experience and long record with working with companies commercialising new technology will add to our Board's capability as we navigate this critical phase of technology development."
Andrew Hinkly, Managing Partner of AP Ventures said "I am looking forward to joining the Board of Hazer and working closely with the members of the Board.
Hazer's technology offers a unique solution for the production of low-carbon emission hydrogen, and I am excited to be part of the journey as the Company commercialises its technology. "
This announcement was authorised for release by the Board of the Company.
[ENDS]
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