Hydrogen Technology Investment Settled
Perth, Aug 2, 2022 AEST (ABN Newswire) - BPH Energy Limited (
ASX:BPH) is pleased to advise the market that following its shareholders meeting on 21 June 2022 at which shareholders voted unanimously to approve to make an investment in hydrogen technology company, Clean Hydrogen Technologies Corporation (Clean Hydrogen Technologies ) that BPH and its investee Advent Energy Ltd (Advent) have now settled for the acquisition of a 10 % interest in Clean Hydrogen Technologies for $1,000,000 USD , as detailed in its Shareholder notice to ASX released 24 May 2022.( 8% BPH and 2 % Advent).
BPH and Advent have a further first right of refusal to invest in Clean Hydrogen Technologies to a maximum of a further US$1m for a further 10%, on or before 31 December 2022.
Advent has affirmed its position on Net Zero and clean energy technology releasing a statement saying: - "Advent Energy is a strong supporter of plans for Net Zero by 2050 and sees the company playing a direct role in achieving that target, especially in New South Wales.
It aims to do this in two ways: First, by finding gas closest to Australia's biggest energy market; gas which can be used to provide reliable back-up for increased uptake of renewable energy in NSW. Second, through its plans to explore for opportunities in offshore NSW for carbon capture and storage (CCS), a key clean energy technology."
"The investment in Clean Hydrogen Technologies compliments this strategy Hydrogen technologies can make our economies cleaner, more secure and more resilient. Providing zero-emission energy will be essential to reach global climate targets. There is a huge opportunity for hydrogen energy technology to tap into existing gas infrastructure. There's a pending energy crisis in Australia with the need to cleanly transition to renewables.
Hydrogen will be a huge part of making sure we complement that change with better sources now and well into the future. BPH Energy is proud to announce our investment in Clean Hydrogen Technologies.
Global Hydrogen Markets growth
The transitioning from hydrocarbons to hydrogen, produced with no emissions, is now presenting real economies and growth globally.
The global hydrogen market is projected to grow from less than US$100 billion in 2021 to over US$200 billion by 2030 and over US$500 billion by 2050 in order to meet Net Zero Emissions demands by 2050 (International Energy Agency Global Hydrogen Review report 2021).
Clean Hydrogen Technologies are making the US market a key focus of their development plans. The US government has announced a funding of $9.5bn for the hydrogen industry, as part of the broader $1.2 trillion Bipartisan Infrastructure bill, the Infrastructure Investment and Jobs Act signed by President Joe Biden.
A report by Statista forecasts hydrogen demand in the United States is projected to reach up to 73 million metric tons by 2050 largely driven by its use as transportation fuel.
Clean Hydrogen Technologies
Clean Hydrogen Technologies is a USA Delaware registered company with technology to produce clean hydrogen.
They are currently building a system for commercial use, using their own unique catalysts and bespoke engineering processes, to generate clean hydrogen and conductive carbon used to manufacture batteries. The production of the two valuable products, comes from processing natural gas with no CO2 emissions and does not require the use of significant volumes of water.
Their capabilities will help their customers accelerate their path to CO2 neutral, using an abundant natural resource, natural gas, with comprehensive existing infrastructure and supply chains in place. Their system has a modular based system design for supply to large scale solutions to meet upstream natural gas processing or downstream small scale needs to support hydrogen hubs for transport.
As part of their ongoing innovation and development they have filed 2 comprehensive patents in the USA and plan to continue to file further patents over the coming months.
These patents reflect their capabilities at producing clean hydrogen and conductive carbon black with no CO2 emissions.
About BPH Energy Limited
BPH Energy Limited (ASX:BPH) is an Australian Securities Exchange listed company developing biomedical research and technologies within Australian Universities and Hospital Institutes.
The company provides early stage funding, project management and commercialisation strategies for a direct collaboration, a spin out company or to secure a license.
BPH provides funding for commercial strategies for proof of concept, research and product development, whilst the institutional partner provides infrastructure and the core scientific expertise.
BPH currently partners with several academic institutions including The Harry Perkins Institute for Medical Research and Swinburne University of Technology (SUT).
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