Hygo Energy Transition Ltd.

General Information
Business:

We provide integrated downstream LNG solutions to underserved markets by delivering low cost, environmentally sound energy alternatives to consumers around the world. Our business includes (i) our network of existing and development stage marine LNG import terminals, (ii) our ownership of interests in existing and development stage large-scale power plants backed by high quality offtakers, and (iii) the downstream distribution of LNG from our terminals via marine and onshore logistics to major demand centers in Brazil. In addition, we have historically derived the majority of our revenues from our LNG carriers, which we expect to convert into FSRUs (floating storage and regasification units) to service our terminals. We believe our model of “hub and spoke” LNG infrastructure, anchored by our terminals in Brazil, is a model that is highly replicable to create a global platform. Accordingly, we are also pursuing multiple gas-to-power and distribution opportunities elsewhere around the world, including Latin America, Southeast Asia, the Indian Subcontinent, West Africa and Europe. We seek to unlock underserved markets by introducing LNG and natural gas as cheaper, cleaner and transformative alternatives to traditional fossil fuels, as well as an attractive, reliable complement to growing renewable energy sources.

(Note: Hygo Energy Transition Ltd. withdrew its IPO on July 14, 2021, in a registration withdrawal filing with the SEC. Hygo had initially filed its IPO documents in late August 2020.)

Industry: Natural Gas Distribution
Employees: 63
Founded: 2016
Contact Information
Address 2nd Floor, S.E. Pearman Building, 9 Par-la-Ville Road Hamilton HM 11, Bermuda
Phone Number +1 (441) 295-4705
Web Address
View Prospectus: Hygo Energy Transition Ltd.
Financial Information
Market Cap $673.14mil
Revenues $43.96 mil (last 12 months)
Net Income $-68.62 mil (last 12 months)
IPO Profile
Symbol HYGO
Exchange NASDAQ
Shares (millions): 23.1
Price range $18.00 - $21.00
Est. $ Volume $450.5 mil
Manager / Joint Managers Morgan Stanley/ Goldman Sachs
CO-Managers Citigroup/Barclays/ BofA Securities/ BTG Pactual/ BTIG/ Credit Suisse/ Itau BBA/ UBS Investment Bank/ XP Investimentos/ Arctic Securities/ DNB Markets/ Fearnley Securities
Expected To Trade: 9/25/2020
Status: Withdrawn
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
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