With just over 24 hours to go, Hydrowood has raised over AUD 2 million and welcomed more than 500 new shareholders to its books.
And it’s only beginning with Hydrowood co-founder Andrew Morgan preparing for “a chaotic run until the close” at 10 pm AEST tomorrow.
In May, Wood Central reported that underwater harvesting company Hydrowood was partnering with equity crowd-funding partner OnMarket in the first crowd-funded revenue raise in Australian forest products history.
Offering investors shares starting from $500.00 per share, Hydrowood co-founders David Wise and Andrew Morgan provide a compelling reason to invest.
“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 positioned to supply sought-after timber into the future.
Global reclaimed timber market set to surge on back of circularity push
Last month, Wood Central reported that the global market for reclaimed timber will grow 20% over the next seven years and reach USD 74 billion by 2030.
The decision by the West Australian and Victorian State Governments to accelerate the closure of native forest harvesting – not mentioned in the report – is expected to lead to an even greater demand for reclaimed timbers in the Australian market, with the supply of native hardwoods expected to contract from next year.
According to Andrew Morgan, the decision by the Appeals Court to uphold the decision against VicForests in the Central Highlands reinforces the importance of reclaimed timber.
“With a reduction in native forestry production and reduced supply due to bushfires and increased demand for decorative timbers, Hydrowood is positioned to supply sought-after timbers into the future,” Andrew Morgan said.
The furniture segment leads the global market for reclaimed timber with a share of 31%, witnessing continued growth through 2028 – with the worldwide government’s pushing for greater circularity in supply chains.
Hydrowood has effectively extracted 6,000 cubic metres of timber from Lake Pieman, with an additional 60,000 cubic metres yet to be gathered.
Its reclaimed timbers end up in the premium furniture market, with its sawn boards achieving a substantial premium in the marketplace.
- Always consider the general CSF risk warning and offer documents before investing.
