Lion Energy has struck an AUD 10 million ($6.8 million) take care of Mitsubishi subsidiary DGA Energy Solutions Australia and Samsung C&T to collectively develop a inexperienced hydrogen technology and refueling hub in Brisbane, Australia.
From pv journal Australia
Australia-based gasoline and oil developer Lion Energy mentioned it has entered right into a definitive joint improvement settlement with DGA Energy Solutions Australia and Samsung C&T to develop a renewable hydrogen hub on the Port of Brisbane.
Perth-headquartered Lion Energy plans to construct a renewable-based hydrogen manufacturing and refueling facility on the Port of Brisbane. The mission is to incorporate two 1 MW alkaline electrolyzer packages with the capability to ship 850 kg per day of inexperienced hydrogen, with a complete manufacturing capability of greater than 300 tons per yr.
The hub is geared toward heavy-duty fleets with an early concentrate on supplying hydrogen to home public bus fleets, truck fleets, and gas cell gensets for the development and mining trade.
Lion Energy Executive Chair Tom Soulsby mentioned the event settlement exhibits confidence not solely within the vital potential for inexperienced hydrogen in Australia but additionally in Lion’s capabilities.
“For Lion, the transaction ends in the mission being funded and can permit us to allocate present and future capital for brand spanking new tasks,” he mentioned.
DGA and Samsung will initially pay AUD 3.7 million to Lion Energy for pre-construction prices and the events who agree to start out development will get debt financing of as much as AUD 6.3 million.
Under the settlement, Lion Energy will personal half of the mission and the companions on a quarterly foundation.
Lion Energy mentioned it had obtained the related authorities approvals for the mission and signed a long-term lease for an space on the Port of Brisbane. Agreements are additionally in place for key tools, together with electrolyzers, compressors and the dishing out bundle.
Soulsby mentioned the Port of Brisbane facility was prone to kind a blueprint for different inexperienced hydrogen ‘hub and spoke’ provide services throughout jap Australia with the mission attracting curiosity from potential prospects.
“We are actually very assured that our preliminary markets for our inexperienced hydrogen manufacturing would be the conversion of grey hydrogen to inexperienced hydrogen for industrial prospects, gas cell gensets and heavy mobility gamers. reminiscent of bus operators and truck fleet managers,” he mentioned. “We anticipate to replace the market with offtake agreements in Q3 2024.”
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