NEO has agreed a US$10 million (approximately AUD$14.2m) letter of commitment from an International Investment Group to finance growth and the planned IPO of the group. The US$10 million funding is expected to be received within the next four weeks.
Viridis is in the process of signing data centre agreements worth AUD$200M. Bell Potter has advised that we must first demonstrate meaningful earnings from our Viridis Green Data Centres company, which is our largest portfolio company. The expected signing of the first two major agreements are within this financial (30 June 2026) year giving strong revenues for the proposed IPO.
With the global portfolio including – Viridis Data Centres, Alpha H2, National Waste to Energy, H2i, Pure BioChar and other NEO Investments continuing to scale, NEO is positioned for its strongest period of growth and earnings. Conditional on the funding being received and the data centre contracts signed the IPO is targeted for late-2026.
With Viridis approaching data centre funding and the broader portfolio accelerating, NEO now has a defined and clear pathway to delivering an IPO that will provide sustainable growth post-listing as all companies will be in growth phases.
The group is currently working directly on the Viridis raise, with institutional investors now in the data room.
NEO Group Update
Viridis Green Data Centres Deliver $200m Pipeline
VIRIDIS Green Data Centres (“VIRIDIS”), Australia’s only developer of Zone 4 edge data centres, has received unconditional planning approval from the Burnie City Council for its Tasmanian data centre, VDC-2.
VIRIDIS worked closely with Campbell Newman’s AO Arcana Capital to secure the permit which was issued with no conditions of approval and no operational constraints, keeping the Company on track for its target go-live in mid-2027.
The approval adds a fully consented Tasmanian asset to VIRIDIS’s development pipeline, valued at approximately $200 million across sites in Australia, the Philippines, India and Europe.
Key points:
- VDC-2 is a Tier III, Zone 4 edge data centre to be developed through the repurposing of an existing commercial building in the Burnie CBD.
- 15 to 20 local construction jobs during fit-out and between 5 and 16 ongoing operational roles once live.
- The development forms part of VIRIDIS’ strategy to target regional areas, where clients — particularly in defence and government — require ultra-high-security (Zone 4) data centres to be located directly on or adjacent to their sites.
- The Burnie approval follows VIRIDIS’s 450kW data centre in Teneriffe, Brisbane, which is fully funded with capital expenditure complete, Letters of Intent secured from defence contractors for full capacity and is expected to be operational within six months.
Campbell Newman AO, Chairman & Managing Director, Arcana Capital said:
“We are delighted to be working with Viridis to deliver cutting edge technology to the northwest coast of Tasmania whilst adding value for our investors. This project sees the repurposing of the old Advocate Newspaper print centre to a modern information technology asset for the 21st century. We greatly appreciate the support of the Burnie City Council and the community who have embraced this opportunity.”
H2i Group
H2i won the CSIRO’s RISE Innovation Grant to advance its hydrogen injection technology.
H2i presented at a Tier-1 Indian energy conference, resulting in a confirmed trial with the second-largest government organisation in India — one of the world’s largest transport-asset operators.
The trial has been funded by the customer and is booked to start 20 April 2026.
The team has also signed a distribution agreement worth A$1 million in Year One to scale deployments across India.
Alpha H2 – Coca Cola Trial
Now formally conducting a hydrogen injection trial with Coca-Cola in LATAM, providing access to FEMSA’s 30,000-truck fleet and a direct pathway to multinational fleet conversion while there are additional tests underway with a large Mexican fleet owner representing 12,000 vehicles.
To-date, Coca Cola in LATAM has reported strong results.
Alpha H2 is also running comparable trials in Sri Lanka, linked to a potential 800 bus deployment. Additional commercial agreements are currently being negotiated in Australia, India, Europe, the Middle East, and Africa as the company continues to expand globally.
Pure Biochar
Partnering with a large Japanese trading house on an integrated biochar export project, with the company committed to offtaking 100% of the product.
The first sample of biochar is now with the Japanese trading house for testing. This first 5,000 tonne order will set a base line price for exporting the biochar to Japan that will unlock a further pipeline of biochar projects.
GreenH2 LATAM
Secured a US$25 million tyre-recycling offtake agreement in Mexico and is now negotiating project financing with a major family office. The team is also developing a US$50 million integrated clean-energy hub. A meeting with Mexico’s Energy Department is scheduled, where the goal is to secure the government as the project’s 100% offtaker.
GreenH2 India
The company has now been established and is actively negotiating with a major electric bus operator, a data centre group, and a hydrogen hub, with all agreements expected to activate in the second half of 2026.
NEO anticipates that Alpha H2, plastic-to-energy, Viridis Green Data Centres, and NEO Mobility will achieve significant growth in the Indian market in late 2026.
The Company is also planning a trial of Alpha H2 injection kits with a major bus operator in Sri Lanka that has a fleet of over 800 vehicles.
National Waste to Energy
The FEED study has been completed by Powerhouse Energy’s UK engineering division, and two global financiers are now conducting due diligence to fund the Western Australian facility.
An EPC contractor is also reviewing the project with the potential to both fund and build the site.