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November 05, 2023
Frontier Energy Limited (ASX: FHE; OTCQB: FRHYF) (Frontier or the Company) is pleased to announce it has reached an in-principle agreement with the City of Perth for the development of WA’s first publicly available Green Hydrogen Refuelling Station (Refuelling Station).
HIGHLIGHTS
- Frontier Energy and City of Perth to develop WA’s first publicly available green hydrogen refuelling station in West Perth
- Proposed location of refuelling station is approximately 2km from Central Perth
- WA Government has identified domestically produced green hydrogen as a key to reducing WA’s reliance on diesel imports
- There is vast potential for reducing WA’s emissions by replacing diesel and petrol with green hydrogen in transport and bulk haulage
Frontier and the City of Perth have identified and selected a convenient and accessible location for this refuelling station on City of Perth-owned land at Thomas St, West Perth. This location is approximately 2km from Central Perth, near the Mitchell and Kwinana Freeway access points. Hydrogen powered vehicles have faster refuelling times and the ability to travel longer distances carrying larger loads before refuelling.
Development of this refuelling station is subject to final approvals, as well as a Final Investment Decision by Frontier.
Image 1 – Map of Refuelling Station location and surrounding infrastructure
Perth City Lord Mayor Basil Zempilas commented: “Hydrogen-fuelled cars are predicted to grow in popularity over the coming years so having a city-based refuelling station forms an important part of our sustainability plan.
“Frontier Energy is working to become one of the first companies in Australia to produce green hydrogen commercially and will be an important partner for the City as we strive to create a healthy city where environmental, social and economic systems are in balance.”
Frontier Managing Director, Sam Lee Mohan, commented: “The displacement of diesel by hydrogen, most notably in the long haulage industry, is likely to be a major market for hydrogen in the future. Critical to the development of this industry is not only the development of the green hydrogen product, but also the development of critical associated infrastructure such as refuelling stations.
“This initiative aligns with Frontier’s long-term ambition to become a vertically integrated producer across the renewable energy sector, including green hydrogen. The Company would like to thank the City of Perth for its work in arriving at this point and we look forward to developing this exciting project together.”
Using green hydrogen to replace diesel and petrol
Hydrogen can be used as fuel to power Fuel Cell Electric Vehicles (FCEV) including cars, buses, trucks, and trains. Refuelling hydrogen cars, buses and trucks requires a network of refuelling stations, similar to the existing petrol station network.
Benefits:
FCEVs are more efficient than conventional internal combustion engine vehicles and produce no harmful tailpipe emissions. The advantages of hydrogen powered vehicles compared to battery electric vehicles include faster refuelling times and the ability to travel longer distances carrying larger loads before refuelling.
This is perhaps most apparent in long-haul road transportation, which is hugely important to WA’s economy, where the combination of battery weight, extended recharging times and limited range are impediments for purely electric solutions. On each of these factors, FCEVs offer an attractive alternative.
When energy contained in fuel and engine efficiencies are accounted for, hydrogen in a FCEV drive is approximately equivalent to 4 - 6 times diesel on a $/kg basis. This implies that a $8-12/kg hydrogen price is equivalent to a ~$2/kg diesel price (in line with current prices), as measured by equivalent output in a diesel car or a FCEV. Additional premium for zero emissions is likely to accrue to hydrogen used in transport.
Refuelling station technology and FCEV technology is maturing, with stations and fleets being rolled out globally.
WA Opportunity:
Currently, there are no publicly accessible refuelling stations in WA and only a very small FCEV fleet.
Click here for the full ASX Release
This article includes content from Frontier Energy, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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19h
Provaris Energy
Investor Insight
Provaris presents a unique and attractive investment opportunity given its leading role in developing innovative storage and transport infrastructure essential to lower the cost of hydrogen and CO2 supply chains. With its proprietary technology, strategic partnerships and integrated business model, Provaris is well-positioned to capitalize on the growing demand for clean energy solutions.
Company Highlights
- Proprietary tank IP, fabrication and ship designs provide unique advantages to unlocking economic storage and transport.
- Studies demonstrate compression provides the lowest cost for regional hydrogen supply.
- Advancing term sheets into binding agreements in 2025 for hydrogen supply to German utilities.
- Simple ‘Capital lite’ model to provide early cash flow from license fees, recurring revenue and remove capex
- Expanding tank IP and new license fees with Yinson Production AS to innovate liquid CO2 tank and vessels and a second source for license fee income.
- Growth opportunities from pipeline of supply projects and new markets for gas and liquid storage tank solutions
Overview
Provaris (ASX:PV1), offers innovative storage and transport infrastructure essential to lower the cost of hydrogen and CO2 supply chains. With an office established in Oslo, Norway, to support the focus on Europe, the company has developed a shipping solution for ‘Ready to Use’ hydrogen, which provides flexible and stable supply for buyers at the lowest regional delivery cost. The advantages of compressed hydrogen are now recognized through multiple industrial partners for supply and offtake, including a maiden term sheet for offtake with Germany’s Uniper Global Commodities.
The implementation of a ‘capital lite’ model through technology license fees enables Provaris to support a portfolio of supply projects to deliver early cash flow and long-term recurring revenue without large-scale capex. Illustrative fees for each supply chain project are material to support substantial returns to investors over time.
Provaris stands at the forefront of the green hydrogen economy being developed, dedicated to innovative and efficient supply chains for zero-carbon energy in the European region. With its rapid adoption of green hydrogen, the European market needs 7 Mt of low carbon H2 imports by 2030 with less than <1 percent produced today. As countries across the continent seek to decarbonize their economies, the demand for sustainable supply of hydrogen molecules remains in deficit for decades to come. Provaris’ compressed gas solution delivers the fastest, lowest cost route to closing this gap.
Compression supports the development of simple, scalable and energy-efficient green hydrogen supply chains for the European market. By focusing on a regional supply model, the Provaris solution delivers 50 percent more hydrogen from supply sights in the Nordics at a 20 percent lower cost.
Supply Chain Project Pipeline in Europe
Provaris is progressing a two hydrogen supply chain project in the Nordics, which include a German utility for offtake. Additional opportunities under review:
> Norway: Working with developers on hydrogen export infrastructure
> Spain: Assessing sites for export and supply chain integration.
> Finland: Identification of suitable sites for bulk-scale hydrogen export infrastructure.
Multiple projects will further diversify Provaris’ revenue potential and position the company as a key enabler of Europe’s hydrogen transition.
Key Features and Benefits of Compressed Hydrogen
- Enhanced Safety: Provaris’ compressed hydrogen technology prioritizes safety in storage and transportation.
- Cost-effectiveness: By eliminating the need for complex liquefaction or ammonia synthesis processes, the company's solutions reduce overall costs.
- Scalability: The technology is adaptable to various project sizes, from regional supply chains to large-scale international exports.
- Environmental Sustainability: Compressed green hydrogen aligns with global efforts to reduce carbon emissions and transition to cleaner energy sources.
Recent Concept Design Study reaffirms simplicity and efficiency of compressed hydrogen enables low-cost supply for Europe.
Innovative Hydrogen Vessel Designs: H2Neo Carrier and H2Leo Barge for export efficiency
Complementing its innovative compressed hydrogen technology, Provaris is in the final stages of developing new vessel designs specifically for hydrogen transport. These specialized vessels are engineered to safely and efficiently carry compressed hydrogen across maritime routes, opening up new possibilities for international green energy trade.
At the heart of Provaris’ innovative H2Neo carrier solution is its proprietary compressed hydrogen technology. The H2Neo offers a more efficient and cost-effective alternative to traditional methods of hydrogen storage and transport. These carriers are designed to address the growing global demand for hydrogen while overcoming the logistical challenges associated with green hydrogen distribution.
Strategic Partnerships using Provaris solutions for hydrogen
At the forefront of Provaris Energy's European strategy is a groundbreaking Memorandum of Understanding (MoU) with Norwegian Hydrogen and Germany-based international energy company Uniper Global Commodities. This tripartite agreement marks a pivotal step in developing hydrogen supply chains, leveraging each partner's unique strengths.
The collaboration strategically capitalizes on the Nordic region's geographical advantages, facilitating efficient hydrogen distribution across Europe, with a particular focus on the German market. Germany is reliant on the import of over 70 percent of its hydrogen demand by 2030. In January 2025, a breakthrough term sheet was announced for the supply, shipping and offtake of 42,500 tonnes per annum of hydrogen, with the target for converting to a binding Hydrogen SPA during 2025.
A second MOU collaboration is also underway replicating this success with a new hydrogen supply project and German utility. Further details are to be announced during 2Q 2025.
In The Netherlands, Provaris is collaborating with Global Energy Storage (GES) to develop a bulk-scale hydrogen import facility within Rotterdam’s global energy hub. The agreement involves the completion of a comprehensive prefeasibility study to demonstrate the technical and economic viability of berthing and unloading of Provaris’ H2Neo compressed hydrogen carriers. Provaris will be responsible for the transportation of the hydrogen in the H2Neo carriers and GES will be responsible for the discharge and injection into the hydrogen grid.
Innovating CO2 Storage and Transport
As part of its commitment to sustainable energy solutions, Provaris is expanding its portfolio to include CO₂ storage. This strategic move commenced with a ground-breaking partnership with Norway’s Yinson Production AS to bring innovation to liquid CO₂ storage and transport, for both maritime and onshore applications. Yinson is a USD 3 billion global energy infrastructure leader in FPSOs and renewable technologies, having raised USD 1.6 B in late-2024 for growth funding, including the establishment of CO₂ supply chains.
In 2024, a Joint Development Agreement (JDA) was announced to develop new bulk liquid CO₂ tank designs for floating, onshore, and ship-based storage applications, solving an industry bottleneck for CO₂ tank capacity limited to ~7,500 cbm. Targeting major gains in storage volume and reduced storage costs, tank designs at low pressure and temperature maximise storage and efficiency to reduce storage and transport costs.
CO2 offers Provaris growth in License Fees
Aligned with its technology license model for hydrogen, Yinson is funding Provaris’ development of new tank designs to be jointly owned and then licensed to owners of floating storage, shipping, and land-based storage solutions, which will include Yinson.
In March 2025 confirmation of an early milestone was achieved with a Concept Design for a new CO2 Tank design completed, with the next milestone set for June 2025. Development fees have included a USD 200,000 Technology License Fee paid under the JDA, with ongoing fees to be received in 2025.
Management Team
Martin Carolan – Managing Director & CEO
Greg Martin – Chairman
Andrew Pickering – Non-executive Director
David Palmer – Non-executive Director
Per Roed – Chief Technical Officer
Mats Fagerberg – Business Development, Europe
Garry Triglavcanin – Product Development Director
Norman Marshall – Group Commercial Manager
John Stevenson – Group Financial Controller
Jessica Roed – Operations Manager, Norway
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22h
AngloGold Completes Tropicana Renewables Project
AngloGold Ashanti (NYSE:AU,JSE:ANG)said on Monday (March 31) that with the completion of its Tropicana renewables project it has created the largest hybrid power system in Australia’s mining sector.
First introduced by AngloGold in June 2023, the renewables project is a partnership with Pacific Energy (ASX:PEA), which will integrate 61 megawatts of wind and solar generation capacity at the Tropicana development.
Tropicana is located in Western Australia roughly 1,000 kilometres east of Perth and is a joint venture between AngloGold and fellow gold producer Regis Resources (ASX:RRL,OTC Pink:RGRNF).
The former holds a 70 percent interest in the project, while the latter owns the remaining 30 percent.
The renewables project is expected to reduce the Tropicana development’s natural gas consumption by approximately 50 percent and decrease carbon emissions by an average of 65,000 tonnes annually over the next decade. The project was completed on time, as construction began toward the end of 2023 and was expected to finish during Q1 2025.
“This project will enable a significant reduction in emissions while reducing both diesel and natural gas consumption and improving our overall security of energy supply,” said AngloGold CEO Alberto Calderon.
The project’s energy capacity is equivalent to powering between 40,000 and 50,000 average Australian homes annually. AngloGold believes Tropicana enhances its net asset value, underlining its status as a valuable investment.
In the long run, the renewables initiative will play a crucial role in AngloGold’s 2030 decarbonisation goal, which calls for a 30 percent reduction in Scope 1 and 2 greenhouse gas emissions based on its 2021 carbon emissions baseline.
Outlining the project’s environmental impact in a fact sheet, AngloGold compares it to planting 33 million trees annually, removing 23,000 cars from the road each year or eliminating 2.8 million long-haul flights per year.
Additionally, the plant is expected to reduce the Tropicana operation's diesel consumption by 5.6 million litres annually and cut natural gas usage by 1.1 million gigajoules per year.
Pacific Energy was responsible for designing and constructing the expansion. The company also owns and operates the hybrid renewables-natural gas power station under a 10 year power purchase agreement.
Combined, the thermal and renewable power systems will provide a total capacity of 115 megawatts.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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01 April
Carbonxt Group
Investor Insight
In an increasingly eco-conscious global market, Carbonxt makes a compelling investment case, leveraging a growing addressable market driven by regulatory changes and strategic partnerships. This addressable market is anticipated to grow substantially with the introduction of new regulations targeting PFAS and other environmental contaminants.
Overview
Activated carbon, derived from materials like coconut husks and coal, is a critical tool for filtering contaminants from air and water. Its effectiveness comes from a unique oxidation process that creates a vast network of microscopic pores, dramatically increasing surface area. This versatility makes activated carbon essential across industries, including healthcare, agriculture, oil and gas, and food processing.
For large-scale industrial applications, activated carbon is available in powdered, pellet, and granular forms, with prices ranging from US$2,000 to US$6,000 per tonne—presenting a significant market opportunity.
Carbonxt Group (ASX:CG1) is positioned to capitalize on this demand. As an innovative manufacturer of custom activated carbon, Carbonxt has expanded its reach through a partnership with US-based Kentucky Carbon Processing, forming the joint venture NewCarbon. This partnership enhances Carbonxt’s market potential and strengthens its gross margins.
A key driver of Carbonxt’s growth is its new Inez Power Activated Carbon Plant in Kentucky, which focuses on water treatment—a sector set for transformation due to new US regulations targeting PFAS contamination. PFAS, so-called "forever chemicals," persist in water, soil and even human bodies, with links to serious health issues like cancer, thyroid disease and developmental disorders.
The EPA’s Clean Water Act and the Bipartisan Infrastructure Deal allocate $10 billion to combat PFAS pollution, forcing water utilities to upgrade their filtration systems. Carbonxt’s specialized activated carbon solutions are designed to meet this demand. Through NewCarbon, the company is repurposing a waste-to-energy plant into an advanced activated carbon facility, significantly expanding its production capacity.
With 50,000 water utilities across the US accounting for half the granular activated carbon market, Carbonxt is strategically positioned to challenge industry incumbents and reshape the sector.
In addition to the Kentucky facility, Carbonxt has two more production facilities in the US: the Black Birch Powdered Activated Carbon Facility in Georgia and the Arden Hills Pelletization Plant in Minnesota. These facilities have a combined current total capacity of 13,500 tons per annum. The company plans to expand this capacity to 43,500 tonnes per annum by 2027.
Company Highlights
- Carbonxt Group is a manufacturer of patented activated carbon products designed to treat toxic pollutants in both air and water. The company has secured key partnerships and research grants to enhance its product development and market reach.
- Carbonxt currently has an addressable US market for the air phase exceeding US$290 million, with opportunities to expand significantly due to regulatory shifts.
- The partnership with Kentucky Carbon Processing has resulted in the joint venture company, NewCarbon, affording Carbonxt several advantages:
- Increased US-based production capacity to over 20,000 tons per annum, with potential for further expansion.
- Control over input costs, improving base margins.
- Access to high-quality raw materials, ensuring consistent product performance.
- The opening of this new facility allows Carbonxt to enter the water phase market of pollution control, increasing the addressable market to approximately US $1 billion.
- In the near future, much of Carbonxt's growth will be driven by the United States Environmental Protection Agency's increasing regulation of PFAS. There are 50,000 water utility companies in the US, with 4,000 serving over 10,000 customers, collectively representing a significant market.
- The addressable market is expected to increase to well over US$2 billion as these PFAS rulings come into place over the next three years.
- Carbonxt is well-positioned to serve these companies, providing granular activated carbon as well as activated carbon pellets that offer improved filtration with a lower pressure drop as a replacement for granular activated carbon.
- In addition to a highly experienced leadership team, Carbonxt’s strong revenue and earnings growth potential from NewCarbon make the company an attractive investment prospect.
Core Product
High-performance Activated Carbon
Carbonxt designs specialized activated carbon products for its customers, which consist primarily of industrial sector organizations and power utilities. Available in pellet and powder form, the company's oxidizing, non-brominated activated carbons are non-corrosive and designed to remain efficient throughout their entire lifecycle. Although Carbonxt’s origin and listing is in Australia, its products are manufactured and distributed exclusively within the United States.
Carbonxt is currently focused on developing an activated carbon manufacturing facility in Kentucky, the result of a joint partnership with Kentucky Carbon Processing. Once this facility is operational, water utility companies are expected to form a much larger part of its customer base. The facility is also expected to re-invigorate the company's industrial pellet market sales.
Highlights:
- Strong Market Outlook: Industry demand for powdered and pelletized activated carbon remains strong. Prices have trended considerably upwards over the past year and will likely continue to do so for the foreseeable future, particularly if the Trump administration persists with the imposition of wide-spread tariffs.
- Pricing Trends: Carbonxt's primary competitors in the activated carbon market have both announced price increases ranging from 15 to 40 percent. The company's activated carbon products have the potential to offer better filtration at a considerably lower price point.
- Looking Up: Continued improvements in gross margins (1H25 gross margin at 49 percent, up from 44 percent in 1H24) driven by price increases and ongoing cost-reduction initiatives, including at the Black Birch facility.
- Making a Good First Impression: Carbonxt's high-specification sample products have been well-received by end customers. Management is currently in talks with numerous water utilities to purchase capacity from the company's new facility once it comes online.
- Use Cases: Carbonxt currently manufactures activated carbon products for the following:
- Powdered activated carbons for mercury and flue gas component removal. Customers for this use case include coal-fired power plants, cement plants and industrial boilers & incinerators. Carbonxt manufactures a specialized activated carbon for each type of customer.
- Pelletized activated carbon for the removal of VOCs and hydrogen sulphide from gas streams.
- High-quality pelletized activated carbons designed to remove drinking water contaminants as well as taste and odor compounds.
- Contract Agreements: Carbonxt secured a $4.3 million purchase order for activated carbon products from US utility Wisconsin Public Service. The company also secured a four-year contract extension to supply premium PAC products to Reworld, a global leader in sustainable waste solutions. The deal will generate group revenues of approximately $6 million per annum for the duration of the contract.
Production Facilities
Carbonxt operates three U.S.-based production facilities, each specializing in a key segment of the activated carbon market.
Inez Power Activated Carbon Plant (Kentucky) – The newest and most advanced facility, producing 6,000 tons annually (expanding to 10,000 tons). Designed for granular and pelletized activated carbon, this plant boasts a 99 percent PFOA removal rate, positioning Carbonxt for dominance in PFAS removal and the liquid-phase filtration market—which is twice the size of the air-phase market.
Black Birch Powdered Activated Carbon Facility (Georgia) – Produces 6,000 tons annually (expanding to 10,000 tons), specializing in wood-based powdered activated carbon for industrial applications, including MatsPAC, AquaPAC and CEMPAC product lines.
Arden Hills Pelletization Plant (Minnesota) – Focuses on pelletized wood and lignite carbons, primarily for mercury removal and emissions control. Currently producing 7,500 tons, with key products NAQ-ACP and CTC-ACP.
Management Team
David Mazyck – President, NewCarbon and Director of Technology
Dr. David Mazyck is a world-leading expert on activated carbon (AC) and its applications including mercury capture. He has developed AC products for major multinational AC manufacturers and has regularly consulted them on technical issues. Mazyck is the former chairman of the Activated Carbon Standards Committee for the American Waterworks Association and has developed products for NASA.
He received his PhD in environmental engineering from Penn State University, where he also earned a PhD minor in fuel science.
Matthew Driscoll - Chairman
Matthew Driscoll has significant experience across several industries, including online technologies, financial services, fintech, cleantech, property and resources. He has more than 30 years’ experience in capital markets and the financial services industry and is an accomplished company director in roles across listed and private companies.
He has significant experience in international business growth, mergers and acquisitions, equity and debt raisings and building strategic alliances. His current directorships include NED Energy Technologies, NED Blina Minerals, NED Eco Systems, and NED Smoke Alarms Holdings.
Warren Murphy - Managing Director
Warren Murphy has led a large number of acquisitions and financings across the energy, resources and infrastructure sectors. This includes the development of over 2,000 MW of Greenfields power stations and the acquisition of over 3,000 MW of generation assets.
He was co-head of the Australian Infrastructure & Project Finance Group and Head of Energy at Babcock & Brown based in the Sydney office and led the development of Babcock & Brown’s energy sector capability in Australia and New Zealand, including the founding of Infigen Energy and its unlisted predecessor, Global Wind Partner, where he served as a director from inception until June 2009.
Murphy was also a director of the ASX-listed Alinta and Sydney Gas, as well as the unlisted Coogee Resources.
Imtiaz Kathawalla – Independent Director
Imtiaz Kathawalla was a vice-president at NYSE-listed Cabot Corporation, a global specialty chemical company where he had a 27-year career. Kathawalla's most recent position with Cabot Corporation was as general manager of Cabot's purification solutions division. He ran the group's US$300-million global activated carbon business where he oversaw a material increase in EBITDA before managing the sale of the business to a large private equity group.
Nicholas Andrews – Independent Director
Nicholas Andrews has held the role of executive chairman and CEO at Magontec (ASX:MGL), an established business in the global magnesium sector. He is a member of the executive committee and serves on the board of the International Magnesium Association. Prior to his executive career, Andrews held several senior roles in the financial services sector across both investment management and investment banking.
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27 March
CoTec Holdings Corp. Releases New Investor Presentation
CoTec Holdings Corp. (TSXV:CTH)(OTCQB:CTHCF) ("CoTec" or the "Company") is pleased to announce that it has updated its investor presentation to reflect the significant progress the Company has made in the execution of its strategy.
Investors can access the presentation on the Company's website at: https://cotec.ca/_resources/presentations/corporate-presentation.pdf?v=032602
Julian Treger, CoTec CEO commented; "We continue to make significant progress towards our goal of having two cash flow generating assets by H1 2027. If successful, this will be a remarkable achievement compared to conventional mining where cash flow generation often takes more than fifteen years. The Company is trading at a significant discount to its indicative value and closing this value gap is one of our key focus areas. We believe that the successful execution of our strategy will result in a material re-rating of our Company, offering shareholders a superior return on their investment."
About CoTec
CoTec is a publicly traded investment issuer listed on the Toronto Venture Stock Exchange ("TSX- V") and the OTCQB and trades under the symbol CTH and CTHCF respectively. CoTec Holdings Corp. is a forward-thinking resource extraction company committed to revolutionizing the global metals and minerals industry through innovative, environmentally sustainable technologies and strategic asset acquisitions. With a mission to drive the sector toward a low-carbon future, CoTec employs a dual approach: investing in disruptive mineral extraction technologies that enhance efficiency and sustainability while applying these technologies to undervalued mining assets to unlock their full potential. By focusing on recycling, waste mining, and scalable solutions, the Company accelerates the production of critical minerals, shortens development timelines, and reduces environmental impact. CoTec's strategic model delivers low capital requirements, rapid revenue generation, and high barriers to entry, positioning it as a leading mid-tier disruptor in the commodities sector.
For further information, please contact:
Braam Jonker - (604) 992-5600
Forward-Looking Information Cautionary Statement
Statements in this press release regarding the Company and its investments which are not historical facts are "forward-looking statements" which involve risks and uncertainties, including management's expectations with respect to other current and potential future investments and the benefits to the Company which may be implied from such statements. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements, due to known and unknown risks and uncertainties affecting the Company, including but not limited to resource and reserve risks; environmental risks and costs; labor costs and shortages; uncertain supply and price fluctuations in materials; increases in energy costs; labor disputes and work stoppages; leasing costs and the availability of equipment; heavy equipment demand and availability; contractor and subcontractor performance issues; worksite safety issues; project delays and cost overruns; extreme weather conditions; and social and transport disruptions. For further details regarding risks and uncertainties facing the Company please refer to "Risk Factors" in the Company's filing statement dated April 6, 2022, a copy of which may be found under the Company's SEDAR profile at www.sedar.com. The Company assumes no responsibility to update forward-looking statements in this press release except as required by law. Readers should not place undue reliance on the forward-looking statements and information contained in this news release and are encouraged to read the Company's continuous disclosure documents which are available on SEDAR at www.sedarplus.ca.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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17 March
Toyota Shares Hydrogen Roadmap, Highlighting On- and Off-Road Opportunities
Toyota Motor (NYSE:TM) reinforced its commitment to hydrogen at the 2025 Hydrogen and Fuel Cell Seminar, laying out a roadmap for expanding its fuel cell technology across multiple industries.
Toyota executives used the event to highlight the company’s latest advancements in hydrogen-powered solutions, emphasizing their role in heavy-duty transport, power generation and industrial applications.
“We are collaborating with companies that would traditionally have been our competition to develop standards for hydrogen fueling connections and protocols, recognizing that an industry standard was of greater benefit than our own competitive advantage,” said Jay Sackett, chief engineer of advanced mobility, in his opening remarks at the event.
Toyota has long promoted a diversified strategy to cut emissions, integrating hybrid, plug-in hybrid, battery electric and fuel cell electric vehicles (FCEVs). While much attention has been on battery electric vehicles, Toyota remains firm in its belief that hydrogen fuel cells will play a critical role, particularly in sectors where battery solutions face limitations.
Heavy-duty trucking stands out as one of those key areas. Toyota highlighted its Tri-gen system at the Port of Long Beach, a first-of-its-kind facility developed in partnership with FuelCell Energy.
The plant converts renewable biogas into hydrogen, while also generating electricity and water as by-products. Capable of producing 1,200 kilograms of hydrogen daily, the system helps fuel a growing fleet of hydrogen-powered trucks.
“There are as many as 20,000 opportunities every day to clean up the air with hydrogen fuel cell-powered trucks,” Sackett said, referring to the number of diesel-powered heavy-duty truck routes in the Long Beach and Los Angeles port areas.
FCEV trucks offer several advantages over their diesel counterparts, including zero emissions, rapid refueling and the ability to match traditional payload capacities. While battery-electric trucks require lengthy charging times, fuel cell models can refuel in just 15 to 20 minutes, significantly improving uptime for drivers.
The company’s hydrogen ambitions extend beyond the road — Toyota has also been developing fuel cell-based power solutions at its North American Hydrogen Headquarters (H2HQ) in Gardena, California.
At the seminar, General Manager of Fuel Cell Solutions Thibaut de Barros Conti shared examples of hydrogen applications beyond vehicles that Toyota is pursuing. A Toyota fuel cell generator is already in use as a backup power source for a hospital in the Pacific Northwest, offering a clean alternative to diesel generators.
In addition, a mobile hydrogen-powered generator, built into a Toyota Tundra for motorsports and event use, powered the Hot Cocoa Village and Santa’s Workshop at Detroit’s Christmas tree lighting ceremony last year.
On a larger scale, Toyota’s hydrogen fuel cells are being used in a 1 megawatt power-generation system at the National Renewable Energy Lab in Colorado. The company is also incorporating fuel cells into a future microgrid at H2HQ.
Despite its progress, Toyota acknowledged that hydrogen still faces hurdles, particularly in infrastructure development. Fueling station availability is limited, particularly outside California, which is home to most of the US hydrogen network.
“This has not been an easy road,” de Barros Conti said, “but it is the right road.”
De Barros Conti emphasized Toyota’s efforts to close the infrastructure gap, noting that recent US policy shifts supporting hydrogen production could accelerate station deployment. New incentives for hydrogen production and refueling networks aim to expand accessibility, making FCEVs a more viable option nationwide.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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12 March
Northvolt Files for Bankruptcy, Marking Setback for European Battery Industry
Northvolt, once hailed as Europe's battery manufacturing champion, has filed for bankruptcy in Sweden after failing to secure the financial support necessary to continue operations.
The company cited multiple factors for its collapse in a Wednesday (March 12) release, including rising capital costs, geopolitical instability, supply chain disruptions and shifting market demand.
The bankruptcy represents a significant setback for Europe's ambitions to establish a competitive battery sector against industry giants in China and South Korea. Northvolt had positioned itself as a cornerstone of European energy independence, aiming to build a vertically integrated supply chain for electric vehicle (EV) batteries.
As part of the bankruptcy process, a Swedish court-appointed trustee, Mikael Kubu, will oversee the company's affairs, including the sale of its assets and the settlement of its obligations.
The filing includes several key entities under the Northvolt umbrella, including Northvolt AB, Northvolt Ett AB, Northvolt Labs AB, Northvolt Revolt AB and Northvolt Systems AB.
Northvolt Germany and Northvolt North America have not filed for bankruptcy in their respective jurisdictions; their future will be determined by the Swedish trustee in consultation with the company's lenders.
Northvolt expressed disappointment in the bankruptcy outcome and pledged to work closely with authorities, trade unions and partners to ensure employees receive necessary support during the transition.
In an email, Evan Hartley, research manager at Benchmark Mineral Intelligence, described the bankruptcy as a severe blow to European efforts to challenge Asia's dominance in the battery sector.
"Launched with initial hopes for 170 gigawatt hours (GWh) of capacity in Europe, three plants, and full integration of cathode and precursor production, their plans had hit multiple roadblocks in the past few years," he wrote.
“A wider market of LFP demand growth, plummeting cell prices, and the general difficulty in producing cells were the final nails in the coffin for the Northvolt project,” Hartley added.
Northvolt’s legacy and uncertain future
Despite its financial collapse, Northvolt was able to achieve several milestones.
It ramped up production at its Skellefteå plant, where cell output from serial production lines had doubled, and secured a 50 percent improvement in production yield since September. The company also delivered its first 1 million battery cells to a European customer, produced entirely with fossil-free energy.
Tom Johnstone, interim chair of Northvolt’s board of directors, reflected on the company's journey and the broader implications of its failure in Wednesday's press release:
"This is an incredibly difficult day for everyone at Northvolt. We set out to build something groundbreaking — to drive real change in the battery, EV, and wider European industry and accelerate the transition to a green and sustainable future."
Johnstone emphasized that Northvolt’s work has laid a strong foundation for Europe's battery industry, despite the company's inability to survive in its current form.
"For me personally, it remains key for Europe to have a homegrown battery industry, but it is a marathon to build such an industry. It needs patience and long-term commitment from all stakeholders," he said.
The bankruptcy raises questions about Europe’s future battery production capacity. Data from Benchmark Mineral Intelligence indicates that while Northvolt had originally planned to contribute 170 GWh of battery capacity in Europe across multiple plants, broader market conditions had already begun reshaping the sector.
Statista figures show that Europe’s planned capacity for battery production is still expected to grow, rising from 191.4 GWh in 2024 to 1,160.3 GWh by 2030. Northvolt’s exit leaves a gap in this trajectory, with competitors like Contemporary Amperex Technology (SZSE:300750) and LG Energy Solution (KRX:373220) likely to fill the void.
Additionally, the demand shift toward lithium iron phosphate batteries and the general downward trend in battery prices have made large-scale battery production a challenging business.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
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