Hydrowood
Equity Crowdfunding Case Study
July 2023, $2.1m raised
Hydrowood successfully raised $2.1m from 622 investors - awarding their equity crowdfunding (CSF) raise the largest in Tasmania to date!
Of equal importance to the growth capital raised, Hydrowood have gained an engaged community of 622 brand advocates. Since launching, promoting and closing their campaign, Hydrowood has experienced significant increase in demand from individuals and organisations for their ethically sourced timber.
About Hydrowood
Hydrowood is a Tasmanian-based company that has developed and proven the technology to remove remnant standing trees from hydroelectric dams. Hydrowood then mill them into high grade timber for furniture and architectural applications.
Based at Tasmania’s Lake Pieman, Hydrowood is an accredited sustainable timber producer. Having commenced operations in 2015, pre-commercial sales have generated approximately $2 million in revenue to date. Hydrowood has spent the past eight years de-risking the developing business in a pre-commercial phase.
This platform is now ready for scaling as a fully commercial operation in its established premium reclaimed timber market.
Over this period Hydrowood has produced a range of products including sawn boards, veneers, flooring, and architectural panelling to showcase and ultimately test performance and marketability whilst generating wide brand awareness as a supplier of ethically sourced sustainable timber.
There is a significant amount of timber still to be harvested from Lake Pieman on Tasmania’s West Coast and Hydrowood is in discussions with Hydro Tasmania to expand the available resource via access to an additional 300,000m3 of harvestable timber in the state. In addition to this, there is an estimated 300 million tonnes of timber submerged in lakes worldwide with an estimated value of $50 billion.
As access to land-based natural forest in Australia and around the world is curtailed, the hidden resource submerged in man-made hydroelectric lakes is going to be an increasingly important component of the global supply chain. Hydrowood is uniquely positioned to be a major player going forward.
Everyone was very friendly and the raise was professionally run. Together we've done something in a really tough environment, so I think we should all be pretty proud of it."
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- Andrew Morgan, Co-Founder
About the Raise
In July 2023, Hydrowood closed a successful equity crowdfunding campaign via OnMarket, raising approximately AU $2.1 million from 622 new investors, making it the largest crowdfunding raise in Tasmania at the time.
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The primary goal of the campaign was to increase working capital to scale operations and build a diverse shareholder base, positioning Hydrowood for a potential ASX listing in two to three years.
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Additionally, Hydrowood leveraged the raise as a marketing platform—turning its supporters into brand ambassadors and fostering greater awareness and demand for its sustainably harvested underwater timber products.
Investors
Largest Raise in Tasmania
"Working with OnMarket was great. The team were open and informative about the process. They’re extremely knowledgeable in their understanding of how to run a successful campaign and having Nick travel to us in Tasmania was of high value.
- Andrew Morgan, Co-Founder
What Made the Campaign Successful?
Hydrowood successfully raised capital on OnMarket in 2023 to scale its sustainable timber business, reclaiming rare hardwood from Tasmania’s submerged forests. With a powerful ESG story, proven market demand, and a highly engaged supporter base, the campaign quickly reached its target — turning passionate followers into shareholders and fueling the next phase of growth.
​Compelling origin story
Salvaging rare, beautiful timber from submerged forests in Tasmania captured strong emotional and environmental appeal.
Sustainable impact
Clear ESG credentials (reclaimed wood, carbon-positive story) resonated with values-driven investors.
High-quality product with proven demand
Showcased past commercial success and premium clients, demonstrating market traction.
Strong brand and visuals
Professional campaign materials (video, imagery, storytelling) built trust and excitement.
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Experienced leadership team
Highlighted track record and operational expertise, reducing perceived risk.
Well-timed media coverage
Secured national press during the raise, driving broad awareness and credibility.
Engaged supporter base
Activated existing customers and industry advocates as early backers, boosting social proof.
Clear use of funds & growth plan
Articulated how new capital would expand production and scale revenue.
OnMarket platform support
Benefited from OnMarket’s investor network, campaign coaching, and compliance guidance.
News & Social Media Posts During The Campaign
To enquire about raising funds via equity crowdfunding, click here.