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Venture Capital
innovationcapital.net

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Investments

13

Portfolio Exits

3

About Innovation Capital Limited

Innovation Capital is an Australian venture capital firm with $100m under management. They invest in early to mid stage, companies.The portfolio of companies are built on Australian technology which present global opportunities in the medical device, telecommunications, IT, engineering, cleantech and biotech fields.

Innovation Capital Limited Headquarter Location

Suite 401 35 Lime St

NSW 2000,

Australia

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Latest Innovation Capital Limited News

Aurora Hydrogen secures US $10M Series A led by Energy Innovation Capital

Aug 2, 2022

Aurora Hydrogen secures US $10M Series A led by Energy Innovation Capital CPE News (8.1.2022) – Aurora Hydrogen has raised US $10 million in Series A funding led by Energy Innovation Capital with participation of Williams, Shell Ventures, Chevron Technology Ventures and the George Kaiser Family Foundation. The Series A funding adds to additional funding by the Natural Sciences and Engineering Research Council of Canada (NSERC) that the team received earlier this year. Founded by Dr. Murray Thomson, Dr. Erin Bobicki and Andrew Gillis, Edmonton, Alberta basedAurora Hydrogen is developing a clean hydrogen production technology that utilizes efficient microwave energy without generating any CO2 emissions or consuming water. The recent funding will be used to build and operate a 200 kg-H2/day demonstration plant for field trials in Edmonton. photo credit: Aurora Hydrogen Aurora Hydrogen Raises $10M to Develop Emission-Free, Low-Cost Hydrogen Technology Energy Innovation Capital, Williams, Shell Ventures and Chevron Technology Ventures Invest to Help Unlock One of the Cleanest and Most Economical Forms of Hydrogen Production EDMONTON, AB, Aug. 1, 2022 /CNW/ — Aurora Hydrogen, a company developing emission-free, hydrogen production technology, has raised $10M USD in Series A funding led by Energy Innovation Capital. Participating investors include Williams, Shell Ventures, Chevron Technology Ventures and the George Kaiser Family Foundation. This funding adds to additional funding by the Natural Sciences and Engineering Research Council of Canada (NSERC) that the team received earlier this year. As the world looks to quickly decarbonize transportation and industry, hydrogen demand is expected to increase dramatically, from $130B today to $2.5T in 2025, according to the Hydrogen Council. There is an urgent need to develop new low-cost and low-carbon technologies for hydrogen production. Aurora Hydrogen is scaling their proprietary and highly efficient microwave pyrolysis technology to produce hydrogen and solid carbon without generating CO2 emissions or consuming water. Aurora’s technology is highly scalable, with units that can supply a broad range of applications from distributed fueling to hydrogen injection and industrial processes. Hydrogen production from the Aurora technology has the potential to significantly reduce global CO2 emissions by over 900 million tonnes per year. Additionally, Aurora uses 80% less electricity than electrolysis, the conventional method of producing clean hydrogen, requiring far less electrical generation capacity per kg of hydrogen. And, unlike electrolysis, the process does not require water as a feedstock, preserving another critical and scarce resource. “At Aurora, we are producing low-cost hydrogen at the point of use, at the exact scale required, and without generating any CO2,” said Andrew Gillis, CEO, Aurora Hydrogen. “We use existing energy pipelines and distribution systems to move the energy, then produce hydrogen where it’s needed, eliminating the need for any new costly hydrogen transportation infrastructure.” The recent funding will be used to build and operate a 200 kg-H2/day demonstration plant for field trials in Edmonton, Canada. Current hydrogen production is either expensive and distributed or low-cost and centralized, requiring additional costs to transport. Aurora’s technology has the potential to unlock many new hydrogen markets and applications by providing low-cost hydrogen at the point of use, fast-tracking the path to decarbonization in heavy transportation, residential and commercial heating, and many industrial processes. “Energy Innovation Capital invests in innovative companies commercializing technology for clean, abundant and affordable energy for all,” said Christopher Smith, managing director, Energy Innovation Capital. “Aurora’s novel and thermodynamically sound approach has the opportunity to decarbonize the current carbon intensive hydrogen industry and lead the commercialization of new low-carbon hydrogen applications. The team at Aurora is uniquely positioned to produce hydrogen in one of the fastest, most economical and cleanest ways ever seen on the market.” Aurora Hydrogen’s founding team is made up of Andrew Gillis, PhD, MBA, P.Eng, Erin Bobicki, PhD, P.Eng, and Murray Thomson, PhD, P.Eng. Andrew has spent over a decade in the development, scale-up, and commercialization of clean technology in the natural resource industry; Erin is a world-leading expert in novel applications of microwave energy for industrial processes; and Murray is a world-leading expert in thermofluid reactions with a focus on combustion and pyrolysis. “Aurora has assembled an impressive strategic investor syndicate to commercialize and scale emissions-free hydrogen that includes two of the world’s largest energy companies and a leading U.S. energy infrastructure company,” added Smith. “Aurora can be a significant contributor to achieving global net-zero targets and is very well aligned with EIC’s focus on the future of energy, Chevron’s commitment to industrial decarbonization and energy decentralization, Shell’s strategy to invest in low carbon energy and Williams’ hydrogen development program. The syndicate provides Aurora a powerful commercialization platform with global reach.” About Aurora Hydrogen Aurora Hydrogen is developing a clean hydrogen production technology that utilizes efficient microwave energy without generating any CO2 emissions or consuming water. The technology is highly scalable, units can be installed anywhere and can scale from small fueling stations to the largest industrial applications. Hydrogen production using Aurora’s technology has the potential to reduce global CO2 emissions by over 900 million tonnes per year. The company was founded in 2021 and is based in Edmonton, Canada. For more information, please visit: www.aurorahydrogen.com. About Energy Innovation Capital Energy Innovation Capital is the premier capital provider for innovators serving the energy industry. EIC provides early and growth-stage funding for visionary entrepreneurs tackling global energy challenges with transformative, market-leading solutions. EIC’s team leverages our industry expertise, networks and collaborative approach to help talented entrepreneurs push the boundaries of what’s possible and build great companies. To learn more, visit www.energyinnovationcapital.com. SOURCE Aurora Hydrogen

Innovation Capital Limited Investments

13 Investments

Innovation Capital Limited has made 13 investments. Their latest investment was in Simply Wall St as part of their Seed VC on August 8, 2015.

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Innovation Capital Limited Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

8/19/2015

Seed VC

Simply Wall St

$0.43M

Yes

1

1/20/2010

Series A - II

Audinate

$4M

No

1

6/9/2008

Series A

Audinate

$3.71M

Yes

5/16/2008

Unattributed VC

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$99M

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0

4/22/2008

Unattributed

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$99M

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0

Date

8/19/2015

1/20/2010

6/9/2008

5/16/2008

4/22/2008

Round

Seed VC

Series A - II

Series A

Unattributed VC

Unattributed

Company

Simply Wall St

Audinate

Audinate

Subscribe to see more

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Amount

$0.43M

$4M

$3.71M

$99M

$99M

New?

Yes

No

Yes

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Co-Investors

Sources

1

1

0

0

Innovation Capital Limited Portfolio Exits

3 Portfolio Exits

Innovation Capital Limited has 3 portfolio exits. Their latest portfolio exit was Audinate on July 05, 2017.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

7/5/2017

IPO

$99M

Public

1

8/4/2014

Acquired

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$99M

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10

9/11/2006

Acquired

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$99M

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10

Date

7/5/2017

8/4/2014

9/11/2006

Exit

IPO

Acquired

Acquired

Companies

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Valuation

$99M

$99M

$99M

Acquirer

Public

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Sources

1

10

10

Innovation Capital Limited Team

5 Team Members

Innovation Capital Limited has 5 team members, including current Chief Executive Officer, Michael A. Quinn.

Name

Work History

Title

Status

Michael A. Quinn

Memtec, and Raychem

Chief Executive Officer

Current

Robert Frater

Chief Technology Officer

Current

Ian Bund

General Partner

Current

Fiona Pak-poy

General Partner

Current

Roger Price

General Partner

Former

Name

Michael A. Quinn

Robert Frater

Ian Bund

Fiona Pak-poy

Roger Price

Work History

Memtec, and Raychem

Title

Chief Executive Officer

Chief Technology Officer

General Partner

General Partner

General Partner

Status

Current

Current

Current

Current

Former

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