Frontier Restructures Team to Accelerate Development in 2024

Frontier Energy Limited (ASX: FHE; OTCQB: FRHYF) (Frontier or the Company) is pleased to announce the restructure of its board and senior management team. This follows a strategic review of the Company pursuant to the successful acquisition of Waroona Energy, and in preparation for a Final Investment Decision (FID) on the 120MWdc (Stage One) solar development in 2024.

Frontier’s Bristol Springs Renewable Energy Project (Project) is one of Australia’s largest renewable energy development projects, with approvals in place for 355MW solar power generation. Frontier is fully committed to making the Project one of WA’s largest renewable energy hubs, with multiple value adding initiatives being considered through various studies to be finalised during 2024, including green hydrogen production, hydrogen consumption in a peaking power plant, and utility scale battery storage. The Project holds significant renewable energy expansion potential, with grid connections capable of exporting >1GW.

HIGHLIGHTS

• Frontier continues to drive its strategy of proactively pursuing multiple initiatives to add value to its solar development, including green hydrogen, a peaking power plant and battery opportunities¹
  • Frontier controls two grid connections capable of exporting >1GW renewable energy to the grid, and freehold landholding of 868ha ideal for solar, hydrogen and other renewable energy opportunities
  • Solar development approvals in place for 355MW, ranking the Project as one of Australia’s largest solar farms once developed
• Frontier restructures its senior management team with a specific focus on project execution ahead of planned FID for its 120MWdc solar farm in 1H2024
  • Appointment of Adam Kiley as Chief Executive Officer (CEO) and Warren King as Chief Operating Officer (COO). Sam Lee Mohan steps down as Managing Director
  • Mr Kiley was previously the CEO of Waroona Energy and has 20 years’ experience in equity capital markets and debt financing sectors
  • Mr King is an engineer with 25 years of experience, specialising in project management of engineering, design, procurement and construction
• The Company remains fully funded until FID for Stage One with a cash balance of $12.3m²

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.