Green Energy: Barnaby Joyce is BACK, baby… and he’s probably coming for net zero
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• Barnaby’s back to frighten the lights out of the emissions reduction industry
• Swick Mining Services announces plans to green up the drilling industry
• Green hydrogen and vanadium in the mix for TNG
Backed by his good mate and former Resources Minister Matt Canavan, Joyce turfed out and replaced deputy PM and National Party Michael McCormack this morning just hours after saying there was no prospect of a spill.
Joyce’s return to the leadership has come alongside increasing unease from the Nats about the prospects of Australia adopting a net zero emissions target by 2050.
So expect some interesting times in the policy setting space for renewables and green energy with staunch coal supporter Barnaby back in control.
ESG is an essential investment metric for any ambitious mining, industrial or energy stock in 2021, and Swick Mining Services (ASX: SWK) is tapping battery technology within its new “futures department”.
Following news Swick plans to reignite the demerger of its Orexplore mineral analysis business, the driller has launched the new division to develop drilling technologies with focuses in remote control automation and, unsurprisingly, emissions reduction.
Swick’s Gen3 E-Rig will be its first underground drill rig to be entirely free of diesel power, with a large battery enabling electric power to feed its drilling components.
The Perth driller estimates its power consumption will fall by 50% per metre drilling, helping its clients reduce their all-important carbon footprint.
A prototype rig fitted with an electric drill head will be in the field within three months, with a fully proven model set to be in service by the middle of 2022 before mass production commences.
Boss and founder Kent Swick proudly noted Swick has no exposure to the coal mining industry, saying the company is committed to helping miners reduce their carbon footprint.
“At Swick we have always had a focus on developing a competitive advantage through innovation, as the pioneers of mobile underground diamond drill rigs and now building our Futures Department to provide innovative solutions in relation to ESG matters faced by our clients,” he said.
“We are pleased to be involved in the hard rock underground mining sector with no exposure to coal and also proud to be developing a new generation of drill rig to tackle one of the major focuses currently in the mining sector – decarbonisation.”
TNG (ASX: TNG) is one of a number of companies planning to use its Australian vanadium resources at its Mount Peake project in the NT to back vanadium redox flow batteries.
It has been moving further into the downstream space with a tie-up with Singapore’s V-Flow Tech to deliver power systems underpinned by the energy storage technology.
Now it has gone one step further, with a heads of agreement with Malaysia’s AGV Energy, which is developing a green hydrogen project in its home country.
AGV is working on an electrolysis technology called HySustain, which is being validatdd for operational and commercial feasibility in Europe as we speak.
As part of the arrangement the companies will also look at partnering to roll out HySustain in Australia should it work as intended.
TNG MD Paul Burton noted the “significant momentum within Australia and the resources industry to move towards a hydrogen-based economy.”