Pure Hydrogen inks water supply agreement for Gladstone’s Project Jupiter
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Clean energy company Pure Hydrogen (ASX:PH2) has signed a contract with the Gladstone Area Water Board for the supply of water for its planned large-scale Project Jupiter Hydrogen plant in the central Queensland industrial hub.
The contract is part of Pure Hydrogen’s efforts to secure supply of critical inputs, such as water and power, for the large-scale Project Jupiter to go ahead.
Pure Hydrogen’s plans are for Project Jupiter to initially produce of 100 tonnes of hydrogen per day, with the aim of ramping up to 400 tonnes per day, mainly for supply to export markets.
Managing director Scott Brown said the company was systematically and methodically putting in place all the key elements for the successful development and delivery of the hydrogen plant.
“This is one of four large-scale projects we plan to develop on Australia’s east coast,” Brown said. “Electricity supply is another key input and our planned site is ideally located to achieve seamless connectivity.
“We anticipate providing further updates as we continue to progress and make solid progress with our projects.”
The planets seem to be aligning for Pure Hydrogen. The contract for Project Jupiter comes hot on the heels of last week’s release of an independent review that found its Project Venus in Queensland’s Surat Basin hosts substantial coal seam gas (CSG) resources.
The contract announcement also comes just after the Federal Government promised $275.5 million in last night’s Budget to develop four hydrogen hubs in regional Australia.
The water supply contract is subject to customary conditions precedents including project approvals, FID of the project and building a connecting water pipeline to Pure Hydrogen’s site, which is close to the port in Gladstone.
Pure Hydrogen has five hydrogen projects under development and three gas projects. As well Project Venus, it also has Windorah Gas Project in the Cooper Basin, Australia’s most prolific onshore producing petroleum basin, and the Serowe Project CSG in Botswana.
This article was developed in collaboration with Pure Hydrogen, 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.