Green energy: WA and the Port of Rotterdam collaborate on renewable hydrogen
Western Australia has signed a Memorandum of Understanding (MoU) with Europe’s largest seaport, the Port of Rotterdam, which is establishing itself as a major hydrogen import hub.
The two sides will work together to study the renewable hydrogen export supply chain between WA and the Port of Rotterdam, including the production, storage, transport and use of renewable hydrogen.
The Washington State Government and the Port of Rotterdam will also cooperate on knowledge sharing opportunities relating to policy, regulatory and technological developments.
Hydrogen Industry Minister Alannah MacTiernan said: âWith this MoU, we will better understand the hydrogen export supply chain between Western Australia and the port. of Rotterdam, and what we need to do to make sure that the state is an exporter of choice to Europe. . “
Port of Rotterdam CEO Allard Castelein said that although the distance between Australia and Europe may appear remote, the “excellent” local conditions such as amount of sunshine, wind, availability of water The space and investment climate in WA could potentially lead to a competitive hydrogen product. delivered to the North West European market.
“This new energy from below, distributed through the Rotterdam terminals and the hydrogen backbone, could further contribute to decarbonizing European industries and society as a whole,” Castelein said.
âThis is important both for stopping climate change and for the long-term sustainability of businesses and the economy. “
Lion signs MoU with Bus Queensland owner
Lion Energy (ASX: LIO) has signed a Memorandum of Understanding with Pulitano Investments Pty Ltd to explore long-term collaborative opportunities in the field of hydrogen mobility.
More importantly, the agreement will see Lion Energy potentially produce and distribute hydrogen to meet the needs of the future pilot and commercial fleet of hydrogen buses of the Pulitano group.
The intended outcome of the MOU will be to identify possible sites and define trade agreements in detail, in order to negotiate a formal offtake agreement in the future.
Tlou Energy advances financing for Lesedi gas-to-electricity production project
In other green energy news today, Tlou Energy (ASX: TOU) is preparing to finance the construction of the transmission line infrastructure that will connect the Lesedi project in Botswana to the Botswana Power grid. Corporation, after signing a $ 5 million convertible note agreement with Botswana Public Offers Pension Fund (BPOPF).
In addition, the company has accepted the conditions of a capital investment by BPOPF. The funds will also be used to realize the installation of generating assets, as well as the ancillary costs to facilitate the production of electricity and the sale of electricity.
TOU Managing Director Tony Gilby said: âWith the funds now in place along with the approvals and agreements required to commercialize our gas, we look forward to further development. “
Shares of TOU were up 10.91% to 6.1 cents at the time of writing.
The note may be converted into ordinary shares upon exercise of the conversion option by BPOPF at a discount of 10% from the weighted average price of the TLOU shares.
The Weighted Average will be calculated based on the highest ESB / ASX / AIM trading volume during the 90 trading days preceding the Maturity Date.
Tlou Energy said that when converting the note into fully paid shares, the shares will be classified “pari passu” (i.e. classified in the same way as the existing TOU shares within the capital structure. .
TOU will also obtain all regulatory and shareholder approvals, if applicable.
The power generation company is developing clean energy solutions for Botswana and the sub-Saharan region to alleviate some of the region’s chronic power shortage.
At Lesedi, Tlou Energy is working with its hydrogen technology partner Synergen Met to establish natural gas reserves with abundant solar power to produce green hydrogen.
The prototype hydrogen production unit is being designed, built and tested in Brisbane before being transported to Lesedi in the first half of 2022, when production trials begin.
Approvals are in place to allow the start of development where the first phase will see a 10 MW power project with power sold to the Botswana Power Corporation.
Once in full production, the 10MW generation company could generate annual revenue of around US $ 10 million.