Joint venture unveils hydrogen hub plans for CQ
Pure Hydrogen Corporation and Liberty Hydrogen have signed a binding term sheet to establish a company to be incorporated in the United States of America - Pure Hydrogen International.
The new venture plans to develop four hydrogen manufacturing and distribution hubs - Project Jupiter (Gladstone), Project Mars (Mackay), Liberty North (Newcastle) and Liberty South (South East Victoria).
Pure Hydrogen is a division of Real Energy Corporation, while Liberty Hydrogen is described as a private Australian hydrogen project development company owned by investment group Liberty Energy Capital.
The joint venture announcement comes hot on the heels of last week's news of a Pure Hydrogen Corporation deal with HYZON Motors to collaborate on the development of a network of hydrogen refuelling points in Australia.
“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," Real Energy managing director Scott Brown said.
"We have focused on 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 exports.”
Pure Hydrogen’s plan is to rapidly assemble all parts of the value chain during 2021 with the goal to build and develop a large-scale hydrogen business by:
- - Seeking to lock in agreements with potential end users or partnerships with businesses that have shared goals, similar to the MOU with HYZON.
- - Securing four east coast port hydrogen hubs in a JV with an experienced and well-connected partner in Liberty Hydrogen.
- - Securing JV’s with hydrogen manufacturing and distribution specialists to build pilot plants at the hubs.
Initially Pure Hydrogen will have a 60 per cent stake in Pure Hydrogen International in return for contributing two potential projects in Queensland (Project Jupiter and Project Mars). Liberty Hydrogen would contribute project sites located in Newcastle region and Victoria.
In the announcement, the companies said the JV would report on specific site details when site control was secured at each location.
Modelling by the Australian Renewable Energy Agency (ARENA) has forecast Australian hydrogen exports are expected to contribute a total of $1.7 billion and 2800 jobs to Australia's economy by 2030.