The developer of the largest clean hydrogen hub in Australia’s south-east has struck a $30 million deal with United States-based manufacturer Babcock and Wilcox to deliver a biomass-to-hydrogen project at the site, according to Sydney Morning Herald.
The article highlights that governments and industry step up investments in building the nation’s nascent zero-emissions hydrogen economy;
"Port Anthony Renewables is bringing New York-listed Babcock and Wilcox’s technology for producing hydrogen from waste timber to its hub at Port Anthony in Victoria’s Gippsland region."
“The Port Anthony area has always been a cornerstone of the offshore energy industry. This jointly developed Babcock and Wilcox project represents not only accelerated growth of the Port Anthony Renewable Hydrogen precinct, but sees us well on our way to 25 tonnes a day of hydrogen just in the next two or three years – ultimately leading to the decarbonisation and repurposing of the Bass Strait oil and gas sector.”
- Ben Anthony, Managing Director at Port Anthony Renewables
Hydrogen, which burns cleanly and emits only water, is touted as an important growth technology in the push to arrest global warming due to its potential to decarbonise parts of the economy that cannot be easily electrified, such as a range of industrial processes. Eventually, it is hoped clean hydrogen could also become an exportable store of renewable energy produced in Australia and shipped to customers in Asia.
The use of waste timber, which would otherwise go to landfill, is considered carbon-neutral because the carbon dioxide released during combustion would initially have been absorbed from the atmosphere during a plant’s lifetime. Biomass is used in certain steel-making process in Brazil, but presently it is used in less than 1 per cent of steel production globally.
The article states:
"Last week, the NSW government unveiled a strategy to provide $3 billion by 2030 to incentivise the manufacturing of green hydrogen – the fuel produced when a renewable energy-powered electrolyser is used to split water into hydrogen and oxygen – for both domestic use and export."
In Gladstone, Queensland, mining magnate Andrew “Twiggy” Forrest has recently committed $115 million for the first phase of what he says will be the country’s largest clean-hydrogen manufacturing hub with 2 gigawatts of electrolysers.
Read the full Sydney Morning Herald article here.
Companies In The Renewable Energy Space
Barclay Pearce Capital has a variety of clients in the Renewable Energy Space.
H2X Global Limited
H2X was founded on a shared vision to harness the power of renewable energy to take the automotive sector into industry 5.0. Their mission is to create Australia’s first hydrogen fuel cell electric vehicle manufacturing company.
Verdant Earth Technologies
Founded in 2018, Verdant Earth Technologies is working to achieve net-zero emissions through the development of green hydrogen and renewable energy assets. Why? Because it’s impossible to achieve net-zero emissions by 2050 if we continue to use our resources the way we do today.
Infinite Blue Energy
Infinite Blue Energy is committed and aligned to transitioning WA as an emerging net-zero emissions economy. The company is well placed to be the pioneer in the renewable hydrogen industry in practical and strategic ways.
Sweetman Renewables
Sweetman Renewables Ltd has acquired the sawmilling complex formerly owned by the Sweetman family at Millfield, near Cessnock, New South Wales, Australia. Additionally, Sweetman Renewables has acquired forested land also previously owned by the Sweetman family. Further land is likely to be acquired in the future to expand both sawmilling and related biomass processing activities.
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