How to buy shares in Adrad Holdings
Family-owned radiator business leverages itself to the EV trend as it hits the local bourse.
30 September 2022
Adrad Holdings ($AHL) has successfully listed on the ASX following its $22m capital raise backed by Ellerston, Washington H. Soul Patts and Perennial.
The company is involved in the design and manufacturing of heat exchangers for both mobile and stationary applications. It also manufactures, imports and distributes automotive parts for the aftermarket in Australia and New Zealand – from passenger vehicles right through to dump trucks, agricultural machinery and construction equipment.
Adrad has been around for 25 years but has kept pace with technology, leveraging itself to the electric vehicle market.
In essence, heavy vehicles are moving towards hydrogen fuel cells as a power source, which actually requires more cooling than traditional diesel engines. In a diesel engine, 30% of the power goes into the radiator for cooling, but for hydrogen it's closer to 50%. This makes radiator technology more important.
Arad is already working with some big international names, like Kenworth and Caterpillar which have strong growth prospects.
In addition to vehicles, the company is looking at data centers – which require massive amounts of cooling to operate – for further opportunities post-IP, particularly in south-east Asia.
Adrad Holdings is available to trade under the ticker $AHL.