Green Energy: Who’s as unbreakable as a Toyota Hilux today?
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• Deal to provide EV conversion kits for Hiluxes sends AWN shares soaring
• Platts to launch carbon-neutral LNG index
Try as they might, specialist mining light vehicle startups have been unable to unseat the famously “unbreakable” Toyota Hilux from its throne.
The classic 4×4 and its family-friendly variants has a cult following even beyond rough and tumble mining towns like Kalgoorlie and Karratha.
As their penetration increases EVs will not only help reduce carbon footprints, but also diesel particulate matter, which is being investigated by authorities for its potential to cause long-term health problems in underground miners.
While renewable energy has been popping up on remote mine sites at a rapid pace since Sandfire Resources launched its solar hybrid plant at the DeGrussa copper mine in WA in 2014, electrifying and decarbonising Australia’s vast mining fleet may pose bigger challenges.
And diesel Hiluxes remain the sturdy light vehicle of choice.
As they say, if you can’t beat them, join them.
Bring on VivoPower, a London-based renewable energy company, which over late 2020 and early 2021 picked up Dutch firm Tembo, a company which mods Hiluxes and Land Cruisers into battery EVs for the mining industry.
Its ultimate owner, ASX-listed investment company Arowana (ASX: AWN), announced a new deal this morning for VivoPower to supply 1675 conversion kits to Canada’s Acces Industrial Mining over five and a half years to the tune of $US120 million.
It comes on top of a $250 million arrangement with Australia’s GB Auto announced in January.
Today’s announcement has put a rocket up AWN’s share price, up 50% to $1.20 in early trade.
Oil and gas companies have been forced toconfront their mortality at the APPEA Conference in Perth this week as the industry has pushed back against criticisms that global decarbonisation efforts will make it a dinosaur.
Good timing for Platts to drop their LNG carbon neutral index to provide “increased transparency around the carbon footprint” of LNG cargoes.
The metric will be based around average emissions from Australian plants along with the emissions generated through shipping LNG.
It came as WoodMac analyst Daniel Toleman urged companies at APPEA to reduce their carbon footprint as economies receiving Aussie gas increase the intensity of emissions reduction targets.
There was little movement in green energy stocks to end the week, but one that did move higher this morning was Global Energy Ventures (ASX: GEV), which is progressing a technical solution to ship hydrogen from Australia overseas.
It announced plans to design and process approvals for a “pilot-scale” 430t vessel to ship compressed hydrogen earlier this month along with a deal to engage the European market via an MoU with German engineers ILF.