Western Australia has signed a Memorandum of Understanding (MoU) with Europe’s largest seaport, the Port of Rotterdam which is setting itself up as a major hydrogen import hub.
The two parties will work together to investigate the renewable hydrogen export supply chain between WA and the Port of Rotterdam, including production, storage, transport, and the use of renewable hydrogen.
WA’s state government and the Port of Rotterdam will also cooperate on opportunities for knowledge sharing relating to policy, regulation, and technology developments.
Hydrogen Industry Minister Alannah MacTiernan said:”Through this MoU we will gain a better understanding of the hydrogen export supply chain between Western Australia and the Port of Rotterdam, and what we need to do to make sure the State is an exporter of choice for Europe.”
Port of Rotterdam CEO Allard Castelein said although the distance between Australia and Europe may seem far, the ‘excellent’ local conditions such as the amount of sunshine, wind, availability of space, and investment climate in WA could potentially lead to a competitive hydrogen product delivered to the Northwest European market.
“This new energy from ‘down under’, distributed via Rotterdam’s terminals and hydrogen backbone, could further help decarbonise Europe’s industries and society as a whole,” Castelein said.
“This is important to both stop climate change as well as for the long-term sustainability of businesses and the economy.”
Lion signs MOU with owner of Bus Queensland
Lion Energy (ASX:LIO) has signed a Memorandum of Understanding with Pulitano Investments Pty Ltd to explore opportunities for a long-term collaboration in the hydrogen mobility space.
Importantly, the agreement will see Lion Energy potentially producing and distributing hydrogen to meet the needs of Pulitano Group’s future pilot and commercial fleet of hydrogen buses.
The intended outcome of the MOU will be to identify possible sites and frame commercial agreements in detail, to negotiate a formal offtake agreement in the future.
Tlou Energy advances finance at Lesedi gas-to-power project
In other green energy news today, Tlou Energy (ASX:TOU) is preparing to finance construction of transmission line infrastructure which will connect the Lesedi Project in Botswana to the Botswana Power Corporation power grid, after signing a $5m convertible note agreement with Botswana Public Offers pension fund (BPOPF).
Additionally, the company has agreed to terms for an equity investment by BPOPF. Funds will be also used to carry out the installation of generation assets, as well as ancillary costs to facilitate power generation and the sale of electricity.
TOU managing director Tony Gilby said: “With funds now in place along with required approvals and agreements to commercialise our gas, we look forward to pushing on with development.”
Shares in TOU were up 10.91% to 6.1 cents at the time of writing.
The note can be converted to ordinary shares on exercise of the conversion option by BPOPF at a 10% discount to the weighted average traded price of TLOU shares.
The weighted average will be calculated based on the highest volume exchange of the BSE/ASX/AIM over the 90 trading days prior to the maturity date.
Tlou Energy said upon conversion of the note into fully paid shares, the shares will rank ‘pari passu’ (i.e. ranked the same as existing shares TOU shares within the capital structure.
TOU will also obtain all regulatory and shareholder approvals, where applicable.
The power generation company is developing clean energy solutions for Botswana and the Sub-Saharan region to alleviate some of the chronic power shortage in the region.
At Lesedi, Tlou Energy is working with its hydrogen tech partner Synergen Met to establish natural gas reserves with abundant solar energy to produce green hydrogen.
The prototype hydrogen production unit is being designed, built and tested in Brisbane prior to transportation to Lesedi in the first half of 2022, when production trials will commence.
Approvals are in place to allow development to begin where the first phase will see a 10MW power project with electricity to be sold to Botswana Power Corporation.
Once in full production, the company 10MW of generation could provide annual revenue of around US$10m.