A green hydrogen hub set to be built at the Port of Brisbane is expected to create a blueprint for other hubs across eastern Australia.
A joint collaboration between Lion Energy, Mitsubishi, and Samsung, the hub, which consists of a green hydrogen production and dispensing infrastructure has a total production capacity over 300 tonnes per annum.
Tom Soulsby, Executive Chairman at Lion, said they are delighted to partner with DGA Energy Solutions Australia Pty Ltd (DGA), a wholly owned subsidiary of Mitsubishi Corporation, and Samsung, who bring a wealth of experience in their respective fields.
“Their interest reflects a confidence not only in the significant potential for green hydrogen in Australia but also in Lion’s capabilities. For Lion, the transaction results in the Project being funded and will allow us to allocate existing and future capital for new projects.”
Under the signed agreement, DGA and Samsung will initially pay a total of A$3.7 million to Lion for historical and ongoing pre-construction costs. In return, DGA and Samsung C&T will each become entitled to 25 per cent interest in the project, while Lion will own 50 per cent.
Lion has already entered procurement agreements with key equipment providers which has enabled the company to secure the supply of two electrolysers and a refuelling package. Two hydrogen tube trailers have already been secured and are currently being leased to third parties at commercial rates until required for the Project.
“As the project has matured into this joint development agreement amongst quality global players, hydrogen offtake interest has followed.
“We are now quite confident that our initial markets for our green hydrogen production will be the displacement of grey hydrogen to green hydrogen for industrial customers, fuel cell gensets (which displace oversized and inefficient diesel gensets at construction, mining and event sites) and heavy mobility players such as bus operators and truck fleet managers. We expect to update the market on offtake agreements in Q3 2024,” explained Soulsby.
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