ASX renewable energy stocks wrap: NT receives first generator to help fuel green hydrogen future

A new pilot hydrogen generator, storage and fuel-cell system will give the Northern Territory a chance to develop and commercialise the green energy source.

Charles Darwin University (CDU) will be part of the Northern Territory’s hydrogen-fuelled future with a pilot hydrogen generator, storage, and fuel-cell system to be established in Darwin.

The hydrogen energy storage system (HESS) is a first for the Northern Territory. CDU’s Energy and Resources Institute (ERI) will operate the system for industry partners, students, and researchers, to further develop and commercialise hydrogen as an energy source.

ERI Director Professor Suresh Thennadil says a green hydrogen future for the NT would need comprehensive research and evaluation and the ability to train a workforce with the appropriate skills required for sustaining a hydrogen industry.

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“There is still a lot of work to do for the NT to become a hydrogen producer for a global energy market that is investing heavily in alternative fuels,” Professor Thennadil said.

“ERI, with its REMHART grid systems hub, is perfectly placed to help drive this renewable energy industry in the NT by bringing dedicated researchers and industry together to work through the challenges.”

He said funding from the federal government will enable the university to develop a world-class Grid Testing Facility that fosters collaborations between CDU and industry in the NT through applied research projects and training programs.

Dr Thennadil said the hydrogen electrolyser and fuel cell system would expand capabilities in renewable energy systems.

Hybrid Systems is providing the electrolyser, hydrogen storage, and fuel-cell system to be housed at the Renewable Energy Grid Testing Facility in East Arm Wharf, Darwin.

Hybrid Systems Executive Director Mike Hall said the system would create hydrogen fuel from fresh water and store the fuel at the test facility.

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ASX renewable energy news

VULCAN ENERGY (ASX:VUL)

One of the biggest highlights for this ~$1.07b renewable energy-lithium company during the June quarter was the $78m equity investment from Stellantis, marking a significant move from a global-5 automaker to secure battery minerals essential for electric vehicles.

It was a huge deal – the first time an automaker had invested upstream in a listed lithium company.

In Vulcan’s latest quarterly report for June, MD Dr Francis Wedin says Stellantis’ significant, premium investment represents a strong statement by one of the world’s largest automakers regarding sustainable and strategic sourcing of battery materials.

“Our partnership, which includes the extension of the binding lithium offtake agreement to 2035, is a demonstration of a shared commitment to the region and ambition to produce a local, decarbonised lithium product for electric vehicles.”

The team is continuing to work hard and at pace as support for geothermal energy in the Upper Rhine Valley grows.

“Encouragingly, more political representatives recognise that, in addition to being a source of renewable base-load heat, deep geothermal energy can be used to extract lithium for electric vehicle battery production with a zero-carbon, zero fossil fuel footprint of production,” Wedin adds.

“During the period, EU Commissioner for the Internal Market, Thierry Breton, and Minister-President of Baden-Württemberg in Germany, Winfried Kretschmann, both expressed their support for growing Europe’s local lithium production industry.

“Their comments reflect the long-held objective of Maroš Šefčovič, the EU Commissioner for Interinstitutional Relations and Foresight, for the European Union to be 80% self-sufficient in lithium by 2025.”

FORTESCUE FUTURE INDUSTRIES (ASX:FMG)

Twiggy Forest is throwing some serious cash around at FMG’s ‘green arm’ FFI in hopes to reach a target of producing 15Mt of green hydrogen a year by 2030.

Having appointed CEO elect Mark Hutchinson and Dr Guy Debelle as CFO during the June quarter, the green-energy focused company plans to spend an estimated US$600 – 700m (A$1bn) in FY23 to advance projects like its two-gigawatt capacity electrolyser facility at the Green Energy Manufacturing Centre in Gladstone, Queensland.

As the company plans to complete construction at the Gladstone site – which is expected to double global production after hitting full capacity, work is ploughing ahead at its many other initiatives such as the MOU announced with E.ON back in March to supply up to 5Mtpa of green hydrogen to Europe by 2030.

FFI’s FY22 total expenditure was US$534 million, inclusive of US$148m in capital expenditure and US$386m in operating expenditure.

In accordance with Fortescue’s capital allocation framework, the capital commitment un-utilised by FFI as at June 30, 2022 is US$728m.

This content first appeared on stockhead.com.au

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