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LAVO™ secures agreement with GHD Group as cornerstone investor, welcomes Phillip Bradley to LAVO Board
LAVO (the Company), an Australian technology and lifestyle company powered by hydrogen, and GHD Group (GHD, a global professional services company with leading engineering, environmental, digital and advisory expertise), today announced that GHD will become a cornerstone investor in LAVO.
Known for its forward-looking, innovative approach to connecting and sustaining communities around the world, GHD is well-aligned with LAVO’s mission and vision. GHD has a stated commitment to solving the world’s biggest challenges in the areas of water, energy and urbanisation. It is a member of the Australian Hydrogen Council and is a specialist advisor on hydrogen projects across four continents.
LAVO’s aim is to power a cleaner, more sustainable future through its cutting-edge hydrogen storage technology, the first commercial-ready application of which is the LAVO System. Designed for everyday use by residential homes and businesses, the LAVO System was developed by leading researchers at UNSW and is set to be installation-ready by mid-2021 through the support of strategic partnerships with companies like GHD.
In addition to holding an equity stake in the Company, GHD will support LAVO in fast tracking the development of products and services. The alignment of GHD’s work with the LAVO business strategy is a key aspect of GHD’s innovative approach to ventures investment.
GHD will work closely with LAVO and its other product partners, specifically driving engineering and commercialising activities for each of LAVO’s target markets, including residential, telco, commercial and industrial, and off-grid and back-up diesel.
GHD Group CFO, Phillip Bradley, will also join the LAVO Board of Directors. An accomplished non-executive director who has played a pivotal role in GHD’s growth into a global business, Phillip brings extensive experience in business strategy, organic growth and incubation funding.
Alan Yu, CEO and Executive Director of LAVO, commented, “We are very pleased to welcome GHD as a cornerstone investor and look forward to growing our already well-established relationship. Our innovative hydrogen energy storage technology is extremely versatile and will have many applications beyond the LAVO System, which we are working very closely with our partners to have installation-ready by mid-year. We are excited to continue on this journey with the GHD team and greatly appreciate their ongoing support.”
“I would also like to welcome Phillip Bradley to our Board. Phil will make an excellent addition and already knows the LAVO business well. Phil’s financial strength and deep experience in the challenges of successfully growing a global enterprise will prove invaluable as we seek to turbocharge our business strategy and growth.”
Phil Bradley, GHD’s Group CFO also commented, “Our Future Energy vision is to support clients and communities towards affordable, reliable, secure and low‑carbon energy, to achieve lasting global benefit. We know that renewables are the key to decarbonising our energy systems but the transition to renewables is being constrained by lack of clean energy storage. LAVO is a ground-breaking solution that helps bridge that gap.”
“While our companies are vastly different in size and age, we share a commitment to enabling swift changes in global energy systems. Our experts are already well-integrated with the team at LAVO and we are confident that together we will deliver innovative solutions to sustain our communities into the future.”
GHD’s investment is part of LAVO’s $50 million Series A capital raise process (currently underway/that it completed by end of March). GHD joins Providence Asset Group, UNSW, and Gowings Bros as cornerstone investors in LAVO.
LAVO launched in Australia in September 2020 and has the first and only commercial-ready hydrogen energy storage system in the world designed for everyday use by residential homes and businesses, called the LAVO System. Set to be installation-ready in mid-2021, the LAVO System is designed to easily integrate with existing solar panels, creating significant opportunity for LAVO to have an immediate and notable impact.