Tasmanians offered the first chance to own a piece of history, as innovative underwater harvesting company Hydrowood undertakes an equity crowdfunding program.
The brainchild of local cofounders Andrew Morgan and David Wise, Hydrowood is one of the world’s first underwater forestry operations, harvesting sustainable rare and sought-after timber from Lake Pieman on Tasmania’s rugged west coast.
Tasmanians now have the extraordinary opportunity to invest and own shares in Hydrowood with investments starting at just $500.
“We want to make Hydrowood accessible to everyone, not just the high-end investors. This is a piece of Tasmanian history and we are excited to share it with locals,” said Andrew Morgan.
The Hydrowood team are working with OnMarket – Australia’s largest equity raising platform, which is overseen by ASIC and allows unlisted companies to raise capital from investors all over Australia, giving investors – large and small – the opportunity to back the companies they believe in.
“We are really pleased to be working with Hydrowood on their equity crowdfunding offer,” said Nick Motteram, Managing Director for OnMarket.
“It is great to see Hydrowood undertaking this offer for all the right reasons – to allow their clients and passionate supporters to become shareholders and participate in their future success.”
Andrew Morgan believes Hydrowood is a perfect investment for those who wish to strengthen their ESG or Climate Impact portfolios.
“It’s a zero-carbon product, does no harm to the landscape and provides a sustainable construction material. With a global shortage of timber, and demand set to quadruple by 2050, Hydrowood is a sound investment,” Mr Morgan said.
Hydrowood Chairman Paul Viney said this opportunity offer investors the chance to bring an overlooked natural resource to life, “all while reducing the carbon footprint of the forest product’s industry and eliminating harmful methane emissions.”
It is alleged that no other party has the access to submerged timber resources, the necessary expertise in forestry nor the underwater technology and know-how required to harvest from Tasmanian lakes.
With its national and global success, Hydrowood seeks to increase its stock levels and increase the supply into an ever-growing market.
“There are so many opportunities to salvage more timber from Tasmania’s dams, as well as using excess unusable timber to create a potential source of biomass for green energy projects,” said Mr Morgan.
A rare chance to invest in a unique sustainable Tasmanian product, co-founders Andrew and David are keen to give Tasmanians the chance to register their interest first.
“The more Tasmanian investors the better,” said David Wise.
“All our equipment except for the excavator was built locally, we employ Tasmanians and both Andrew and I are Tasmanian. We love our island and want locals to be a part of the business.”