Investors will be offered the chance to own a piece of Tasmanian history when innovative underwater harvesting company Hydrowood undertakes an equity crowd-funding program with OnMarket later this month.
Hydrowood is the brainchild of co-founders Andrew Morgan and David Wise.
Unrivaled feats of modern engineering were driven by a bold yet unchartered vision to salvage this timber from the deep. A preserved resource has been rediscovered in one of the world’s first underwater forestry operations.
Fast forward ten years, and Hydrowood has revolutionised the timber industry, bringing a sustainable and unique reclaimed material to the market.
In the next month, investors can invest and own shares in Hydrowood, starting at $500 per share.
“There’s a global shortage of timber with demand set to quadruple by 2050,” Andrew Morgan said.
“Australia is a net importer of timber products with a $2 billion trade deficit, and the gap is growing,” he said.
“With a reduction in native forestry production and reduced supply due to bushfires and increased demand for decorative timbers, Hydrowood is in a position to supply sought-after timbers into the future.
Hydrowood has effectively extracted 6000 cubic metres of timber from Lake Pieman, with an additional 60,000 cubic metres yet to be gathered. Over the past six years, the company has invested considerable research and development to create a globally leading operation.
This involves everything from the design of barges and excavators to the drying and processing of timber and testing its various applications.
Hydrowood has nurtured relationships with some of Australia’s leading architects, who confirmed their interest in using Hydrowood in new-build housing and commercial projects.
As an interior timber product, Hydrowood has been featured in the Lewisham House on Grand Designs, Tasmania’s Parliament Square buildings, and Momentum’s Melbourne office, as well as being used for floorboards, bathroom cabinets, and exquisitely designed furniture in Tasmania’s parliamentary offices.
Hydrowood-sawn boards achieve a substantial premium in the marketplace.
Hydrowood has a five-year licence from Hydro Tasmania to operate on Lake Pieman. For added resource security, the company is negotiating to extend its current licence to other Tasmanian lakes where studies have estimated that a volume of up to 300,000 cubic metres is submerged.
