Former Woodside chief Peter Coleman to chair Infinite Blue Energy
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Infinite Blue Energy has scored a major coup with the appointment of former Woodside Petroleum managing director Peter Coleman as its non-executive chairman.
After all, it is rare for junior companies to be joined by the former top executive of a globally-recognised (and ranked) corporation, unless there’s something big going on.
Infinite Blue Energy welcomes Coleman as it looks to develop a green hydrogen project in Western Australia.
Chief executive officer and co-founder Stephen Gauld said the appointment underlines the significance of the opportunity available to IBE in producing green hydrogen for domestic and export markets and is a further vote of confidence in the company’s projects and future strategy.
“Mr Coleman is a respected leader in the energy sector who understands the challenges facing, and the opportunities available to the industry in being at the forefront of global decarbonisation,” he noted.
“The potential for renewable hydrogen as a pillar of a cleaner economic transformation is being recognised throughout the world with government policy positions incentivising investment in large-scale hydrogen projects as carbon neutral forms of energy.
“IBE is on a pathway to producing 265 tonnes per day of green hydrogen for domestic and export markets from its Arrowsmith Hydrogen Plant in Western Australia. The project is aligned to the state’s Renewable Hydrogen Strategy and will be the flagship in a portfolio of renewable hydrogen projects IBE will develop throughout Australia and internationally.
“Mr Coleman’s experience and leadership will position IBE as a leader in the development of this exciting new global marketplace and sends a strong signal to our investors that the business can continue on its path with confidence.”
Coleman, who’s also on the board of oil services giant Schlumberger, is a long-time proponent of hydrogen as a means of reducing carbon emissions.
He had previously predicted that the competitiveness of producing green hydrogen would improve once electrolysis equipment was produced at scale and told the Australian Financial Review after leaving Woodside that the real future growth for Australia was in green hydrogen.
“Hydrogen produced from renewable sources, in particular, has enormous potential to decarbonise economies in the future as investment levels increase, climate policies strengthen, and costs of production decrease,” Coleman said.
“Hydrogen is a transport fuel of the future and can be used to decarbonise long haulage transport and remote operations and to reduce emissions in heavy industry and infrastructure.
“I join the IBE board with the business at an advanced stage in securing its domestic and export market positions and I’m delighted to be leading an Australian business that will be at the forefront of the nation’s desire to create a renewable hydrogen industry.”
This article was developed in collaboration with Infinite Blue 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.