Hexagon’s Perdirka hydrogen project has Genesis as its dance partner

Hexagon has brought on some serious muscle to progress its Perdirka blue hydrogen project with a veteran hydrogen engineering consultant to undertake the PFS.

The company formally entered into an agreement with Genesis, a wholly owned Technip Energies company, for the project’s pre-feasibility study, which will cover all aspects of the business case from coal feedstock extraction through to the transport of hydrogen to port.

Here’s why it matters.

Technip Energies has been responsible for over 270 hydrogen plants worldwide that together account for more than 35% of global production.

The French engineering and technology company also developed BlueH2 by T.EN, a full suite of deeply-decarbonised and affordable solutions for hydrogen production.

Hexagon Energy Materials (ASX:HXG) notes that Genesis will focus on a full technical assessment of the potential concepts for development of Perdirka and will identify and/or quantify the technical requirements, project risks and opportunities, scope for further development, and capital expenditure requirements.

Genesis could also act as a project integrator to support the company’s vision of becoming a leading hydrogen player by maximising the economic opportunity and enhancing the connectivity of the hydrogen economy in Australia.

“Hexagon has been excited by the hydrogen-related expertise that Genesis brings to the table and the agreement with them to advance the PFS is a significant vote of confidence for the project,” chairman Charles Whitfield said.

“They will make a valuable contribution as we progress the pre-feasibility studies for our Pedirka project.”

“Genesis coming on board demonstrates Hexagon’s commitment to assembling a top tier project team with expertise covering all aspects of the business case for Pedirka, a ‘blue’ hydrogen project that will play a material role in the Australian economy’s decarbonisation process.”

Perdirka blue hydrogen project

Located about 200km southeast of Alice Springs, the Perdirka project is aimed at leveraging the company’s 800sqkm of coal tenements as feedstock for a blue hydrogen project that will help decarbonise Australia and the rest of the world.

Coal from the project will undergo gasification to produce gas for export or domestic markets while the carbon dioxide emissions will be captured and sequestered underground or used for enhanced oil recovery projects.

Hexagon recently raised $6.2m through a strongly supported share placement to accelerate the Perdirka PFS.

This article was developed in collaboration with Hexagon Energy Materials, 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.