Clean hydrogen is being targeted by governments worldwide as a cleaner replacement for diesel fuel. Pic via Getty Images
Energy
BPH has bolstered its investment in Clean Hydrogen Technologies amidst rising global demand for green, clean hydrogen.
BPH Energy (ASX:BPH) and investee company Advent Energy to move to a 17.5% stake in Clean Hydrogen Technologies after committing an additional US$250,000 in line with funding agreements and following stakeholder approval on 21 June.
US company Clean Hydrogen Technologies is developing its own in-house solution to generate a clean hydrogen product, as well as solid carbon for batteries.
To do this, the company is building a system for commercial use, using its own unique catalysts and bespoke engineering processes.
Carbon black products are also used in various applications such as the black colouring pigment of newspaper inks, for tyres, floppy disks, and as an electric conductive agent for high-tech materials.
The process to create the two valuable products comes from processing natural gas with no CO2 emissions.
Clean Hydrogen Technologies’ system has a modular based design for supply to large scale solutions to meet upstream natural gas processing or downstream small scale needs to support hydrogen hubs for transport.
The cash injection from BPH will be used by Clean Hydrogen to design build, produce and test a reactor capable of churning out a minimum of 3.2-15kgs of hydrogen per hour.
These funds will also assist in the submission of three new patents in an agreed geography, relevant to the production of hydrogen from proprietary technology.
The move follows the two parties having entered into a hydrocarbon process agreement in early June.
Onshore Energy, a subsidiary of Advent Energy, has the rights to natural gas assets at the Weaber field in the Northern Territory’s Bonaparte Basin, and plans to process the hydrocarbons from Advent’s gas opportunities to produce “turquoise” hydrogen and carbon black products.
Hydrogen demand in the United States is projected to reach up to 73 million metric tons by 2050, largely driven by its use as transportation fuel.
Clean Hydrogen Technologies is therefore making the US market a key focus of its development plans.
In June, the Biden-Harris administration released the USA’s first-ever National Clean Hydrogen Strategy and Roadmap to build a clean energy future and accelerate the American manufacturing boom.
This article was developed in collaboration with BPH Energy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
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