PERTH (miningweekly.com) – The hydrogen division of ASX-listed Real Energy Corporation, Pure Hydrogen Corporation, has signed a binding term sheet with privately held hydrogen project development company Liberty Hydrogen to establish a joint venture (JV) in the US.
The JV, known as Pure Hydrogen International, would develop four large-scale hydrogen hubs in Australia’s east coast, with two to be located in Queensland, one in New South Wales, and one in Victoria.
“Pure Hydrogen is pleased to be partnering with Liberty Hydrogen and delivering best-of-breed hydrogen and fuel cell technology across Australia’s East Coast,” said MD Scott Brown.
“We have focused our four sites that are in close proximity to ports on the East Coast of Australia. Initially we aim to have small pilot plants at these locations to sell hydrogen fuel to local customers, but as the market expands, we have room to significantly expand production to include export.”
Pure Hydrogen would initially hold a 60% interest in the JV in return for contributing two potential projects in Queensland, named Project Jupiter and Project Mars, while Liberty Hydrogen would also contribute the two projects sites in the Newcastle region of New South Wales, and in South East Victoria.
The JV plans to rapidly assemble all parts of the value chain during 2021 with the goal to build and develop a large scale hydrogen business, and would seek to lock in agreements with potential end-users or partnerships with businesses sharing similar goals.
“Pure Hydrogen has made excellent progress in a short period of time and we are only just getting started. We look forward to delivering a steady stream of project development news in early 2021 as our four hydrogen hubs progress,” said Brown.
“The potential for scale when it comes to Australian hydrogen is immense, particularly given the burgeoning rise of forecasted hydrogen markets in Asia Pacific and mounting interest in the North American region.
“Pure Hydrogen is well placed to capitalise on this by continuing to fast-track Australia’s hydrogen and fuel cell technology infrastructure.”