On Thursday, 29 August 2024, Lion Energy Limited (“Lion Energy“) hosted a webinar to share recent developments regarding the company’s Green Hydrogen Project at the Port of Brisbane. During the investor briefing, Lion Energy’s Executive Chairman, Tom Soulsby, discussed the new joint development agreement with DGA Energy Solutions Australia (“DGA“), a subsidiary of Mitsubishi Corporation, and Samsung Construction and Trading Corporation (“Samsung C&T“).This collaboration is set to advance the Port of Brisbane Green Hydrogen Hub. Mr. Soulsby highlighted the Queensland Government and industry leaders’ enthusiastic response to this landmark commercial partnership. The agreement, announced at the Hydrogen Connect Conference in Brisbane, positions Lion Energy as a leading player in the green hydrogen sector. Key points from the briefing include:
- Strategic Partnership: Subject to the parties’ agreement to commence construction, Lion H2 Energy Pty Ltd, currently a wholly owned subsidiary of Lion Energy, would be owned 50% by Lion Energy, 25% by DGA, and 25% by Samsung C&T.
- Funding and Construction: Lion is set to receive AU$3.7 million in September to cover pre-construction costs with potential for additional debt financing of AU$6.3 million subject to the parties agreeing to commence construction. This ensures sufficient funding and support for the Port of Brisbane Green Hydrogen Hub.
- Hydrogen Production: The Port of Brisbane site will produce up to 900 kilograms of green hydrogen per day, aimed at supplying green hydrogen to bus fleets, industrial uses such as fuel cell gensets and forklifts, and heavy mobility applications.
- Market and Growth: Lion Energy plans to replicate this model in other major Australian cities, with surveys and negotiations for additional sites and projects well underway.
- Future Outlook: Lion Energy aims to establish around 20 hydrogen hubs within the next five years, positioning itself as a key player in the industry.
For more details on Lion Energy’s green hydrogen initiatives and future projects, stay tuned for more updates.
