Frontier Energy

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

Executive Chair Grant Davey commented: “As we advance towards a development decision in 1H2024, which includes the delivery of final development studies, both equity and debt financing, procurement and project execution, the Board decided it was the right time to realign and strengthen the senior management team to focus on project financing and development execution.

We are delighted to welcome Adam and Warren to their respective positions. Adam as the former CEO of Waroona Energy has been intimately involved in all development efforts, and his experience in capital markets will position Frontier well for FID and project financing. Warren is leading Frontier’s development studies for solar, hydrogen, peaking power plant and battery developments. Importantly, Adam and Warren bring the skills and expertise required to drive Frontier’s project development to become WA’s leading renewable energy project.

I thank Sam for his work over the past 15 months and wish him the best in his future endeavours.”

Incoming CEO Adam Kiley commented: “As CEO of Waroona Energy and having been involved with Frontier when it re-listed in 2022, I’m tremendously excited about the fantastic and unique opportunity the Company has to become a major, independent, renewable energy producer in WA.

Energy prices continue to rise in WA due to increasing demand, while there is limited new generation capacity entering the market due to grid constraints. I believe the opportunity at Bristol Springs is one of Australia’s best undeveloped renewable energy projects, and it has a tremendous head start given the vast infrastructure already in place. This should not only result in strong financial returns, which will be highlighted in a number of upcoming studies but will also contribute to providing security for WA’s energy requirements through this energy transition.”


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.

FHE:AU
Frontier Energy

Frontier Energy Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

The Conversation (0)
Frontier Energy (ASX:FHE)

Frontier Energy


Keep reading...Show less
Frontier Energy

Procurement and EPC Contract Nearing Conclusion as Peak Energy Prices Hit Record Highs

Frontier Energy Limited (ASX: FHE; OTCQB: FRHYF) (Frontier or the Company) is pleased to provide an update regarding the procurement of key long lead items as well as advancing towards selecting an engineering, procurement and construction (EPC) contractor as part of the Company’s Waroona Renewable Energy Project (Project), located 120km south-west of Perth in Western Australia.

Keep reading...Show less
Adam Rozencwajg, electric vehicle.

Adam Rozencwajg: Will EVs Succeed? Efficiency, Emissions and a Potential Catalyst

Electric vehicles (EVs) have been widely hailed as a key part of the green energy transition, but are they helping as much as we think they are? Adam Rozencwajg, managing partner at Goehring & Rozencwajg, weighed in.

In a conversation with the Investing News Network, he spoke about the energy efficiency and carbon emissions of EVs, explaining how they stack up against traditional internal combustion engine (ICE) vehicles.

On the energy efficiency side, Rozencwajg said EVs are typically viewed as having 90 percent efficiency — in other words, once electrons are in the battery of a car, 90 percent of that energy is translated into the wheels to move the car.

Keep reading...Show less
Evening view of a factor with C02 emissions from chimneys at sunset.

Chevron, ExxonMobil and BP Flagged as Major Global CO2 Emitters

A new report produced by InfluenceMap sheds light on the environmental impact of the world's largest oil, gas, coal and cement producers, quantifying their contributions to global fossil fuel emissions.

It focuses on 122 industrial producers, tracing their cumulative historical emissions from 1854 through 2022.

The document shows that since the Industrial Revolution, over 70 percent of carbon dioxide (CO2) emissions from the fossil fuel and cement sectors can be attributed to 78 of those companies.

Keep reading...Show less
Emergent Waste Solutions CEO Kevin Hull.

Emergent Waste Solutions CEO Says Making Waste Management Profitable Key to Sustainability

Emergent Waste Solutions is resolved to make the solutions to the global waste disposal challenge economically sustainable and profitable, according to the company's CEO, Kevin Hull.

“We determined that if we're going to make an impact in this world, we've got to make being profitable, economically sustainable, a part of the equation as well,” he said. "And that's where we're unique in the whole field of environmental technologies."

Emergent’s ATS Technology uses thermal decomposition, or thermolysis, technology to break waste down at the molecular level using high temperatures with an absence of oxygen, combustion and fire. The process results in biochar, bio gas and bio oil, which are kept separate by the technology and all have value. For example, the biochar can then be used to create carbon-based products such as activated carbon, carbon black, grow mediums and bio coal, with multiple revenue streams and environmental benefits.

Keep reading...Show less
NEO Battery Materials (TSXV:NBM)

NEO Battery Materials


Keep reading...Show less
Engineers installing solar panels.

Australian Government to Invest AU$1 Billion in "Pit-to-Panel" Strategy

Australia has announced a AU$1 billion investment in the Solar Sunshot program, which is aimed at bolstering the country's solar panel manufacturing sector and realizing its potential as a renewable energy powerhouse.

The Solar Sunshot program is seeking to revamp Australia's solar panel manufacturing industry by facilitating a transition from extracting and exporting materials to full-scale solar panel production, a strategy it has dubbed “pit to panel.”

With abundant reserves of metals and minerals like aluminium, phosphate, silica-bearing quartz and copper, Australia is looking to establish a robust domestic supply chain for solar panels.

Keep reading...Show less
Frontier Energy

Frontier Energy Investor Kit

  • Corporate info
  • Insights
  • Growth strategies
  • Upcoming projects

GET YOUR FREE INVESTOR KIT

Latest Press Releases

Related News

×