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The FreightTech Boom and Disruption in Transportation - A Key Trend for 2020 and Beyond
NEO Battery Materials: Disrupting the EV Market with Innovative Silicon Anode Material
NEO Battery Materials Ltd. (TSXV:NBM; OTCQB: NBMFF) is positioning itself as a low-cost, high-performance silicon anode material supplier for EV lithium-ion batteries. The company’s patented technology, called NBMSiDE®, offers cost-effective, longer-running and ultra-fast-charging batteries compared to existing state-of-the-art graphite anode materials. NBM is aiming to achieve the 1,000-mile battery for EVs using its silicon anode materials.
NBM claims NBMSiDE® could manage and resolve the volume expansion problem by coating the silicon particles with mechanically durable nanomaterials such as elastic polymers and carbon nanotubes. There are currently eight patents issued and pending for this technology across various jurisdictions.
NBMSiDE® is paving the way for cost-effective, longer-running and ultra-fast-charging batteries, which can drive down the EV costs and ultimately increase EV adoption. The company aims to achieve the 1,000-mile battery for EVs using its silicon anode materials.
Company Highlights
- NEO Battery Materials is a Canada-based battery materials technology company focused on developing silicon anode materials for lithium-ion batteries in electric vehicles (EV), electronics and energy storage systems.
- The company’s patented technology, called NBMSiDE®, offers cost-effective, longer-running and ultra-fast-charging batteries compared to existing state-of-the-art graphite anode materials. NBM is aiming to achieve the 1,000-mile battery for EVs using its silicon anode materials.
- NBM is positioning itself as a low-cost, high-performance silicon anode material supplier for EV lithium-ion batteries. NBM’s ability to manufacture silicon anode materials economically and efficiently is a vital point of differentiation from existing competitors.
- NEO Battery Materials has signed more than 60 NDAs with global-tier companies, including battery cell manufacturers, EV automakers, electronics manufacturers and high-profile battery supply chain companies. With these parties, NBM is conducting more than 20 active material evaluations to strike milestone joint development, collaboration and offtake agreements .
- The company is planning to construct commercial plants both in Canada and South Korea to manufacture NBMSiDE®. Further, NBM is aiming to build additional plants in the U.S. and Europe to establish itself as a global top 10 silicon anode supplier in the EV battery industry.
This Neo Battery Materials profile is part of a paid investor education campaign .*
Is Now a Good Time to Invest in Cleantech?
As climate change becomes increasingly pressing, many investors are considering cleantech's potential.
The term " cleantech " refers to any technology that aims to reduce environmental impact while delivering equal or better results than traditional technologies. This can involve shifting away from fossil fuels to sustainable energy sources like wind or solar power, reducing waste, treating wastewater and many other innovations .
Cleantech alternatives are now being used in a variety of sectors, including agriculture, manufacturing, transportation, waste management and energy production. Cleantech also involves monitoring carbon levels.
Given its many applications, there are numerous opportunities in cleantech for interested investors. Here the Investing News Network (INN) explores what cleantech is, including its history and whether now is a good time to invest in cleantech stocks. We also discuss how to invest in cleantech and cleantech trends to watch in the future.
What is the history of cleantech?
The term "cleantech" was popularized by key industry groups, notably the Cleantech Group, a research and consulting firm formed in 2002, and Clean Edge, a cleantech stock research firm that has worked closely with the Nasdaq.
Cleantech investing became popular in the early 2000s and experienced a boom in venture capitalism between 2005 and 2008 amid events like the release of Al Gore’s sobering documentary “An Inconvenient Truth” in 2006, and John Doer’s 2007 TED Talk “Salvation (and profit) in Greentech.” During his TED Talk , Doerr urged his audience of investors to put their money into clean energy for both future generations and potential profits in the cleantech industry.
Concurrently, the Intergovernmental Panel on Climate Change (IPCC) released a report that confirmed climate change was happening and would lead to catastrophic events like rising temperatures and unpredictable weather patterns if countermeasures weren’t taken. Government involvement through treaties like the Kyoto Protocol and the Obama administration’s ambitious Clean Power Plan also played a key role in the cleantech boom of the early 2000s.
Cleantech succeeded the dot-com boom, but the market started to crash circa 2010. Several factors contributed, including the financial crisis of 2008, increased competition against cleantech due to falling oil prices and new extraction techniques like fracking — not to mention the huge expense intrinsic to developing alternative energy sources. Investments in cleantech further waned as the 2010s bull market inspired venture capitalists to diversify.
However, advocacy for a greener planet carried on, and leading climate officials maintained that the state of the environment was a growing global concern. Experts have advised limiting the global temperature increase to 1.5 degrees Celsius, and to meet that threshold, mankind will have to reach net-zero carbon emissions by 2050, as per the IPCC .
Urgency inspired a new wave of investment that began shortly after the 2015 signing of the Paris Agreement , a global treaty in which 196 countries pledged to reduce their carbon and greenhouse gas emissions and report on their progress every five years. During this time, companies emerged to recycle waste into usable products like furniture and shoes, while wind and solar stocks performed well. This new era of investing has been dubbed cleantech 2.0.
Is now a good time to invest in cleantech stocks?
According to the UN Environment Programme's Climate Change 2023: Synthesis Report , human activity over the last 200 years has caused a temperature increase of 1.1 degrees Celsius compared to pre-industrial levels. The effects of climate change have become more apparent during this rise. Adverse weather patterns are now common, causing disasters like droughts, wildfires and floods, and hurricanes are increasing in intensity and size.
The UN’s Global Annual to Decadal Climate Update for 2023 to 2027 states that it’s very unlikely that we will stay within the safe range of 1.5 degrees Celsius, and as the deviation increases, negative effects will become more pronounced. This means that in today's world, it's crucial to continue investing in clean energy and carbon emission control technologies.
Against that backdrop, Fortune Business Insights is projecting that the cleantech market will grow at a compound annual growth rate of 20.8 percent between 2023 and 2030, rising from US$16.5 billion to US$61.92 billion.
But what makes cleantech 2.0 more promising than the previous decade's attempts at clean technology? There are quite a few reasons for investors to be optimistic about the current cleantech landscape.
Resources have become much cheaper and the technology has improved vastly since cleantech was still in its nascent stage. During the 2000s cleantech bubble, overvaluation was a major issue as well. However, with a decade of data to learn from , this time investors can enter the market with more realistic return expectations.
How to invest in cleantech?
There are plenty of ways to invest in cleantech . Buying shares of one of the many companies working toward cleantech solutions is an obvious choice because there are plenty to pick from across various industries.
The renewable energy, biofuel and water treatment industries are excellent starting points for investors looking for publicly traded cleantech stocks. The UN's Principles for Responsible Investment publication is a news source that offers guidelines for finding environmentally responsible companies to invest in, as well as other investment tools. Investors may also want to check out INN's list of top-performing Canadian cleantech stocks .
Exchange-traded funds (ETFs) are another interesting avenue because they offer exposure to multiple stocks in the cleantech sector at once. The First Trust Nasdaq Clean Edge Green Energy Index Fund (NASDAQ: QCLN ) is one of the biggest cleantech ETFs available, and there are more options in INN’s round-up of the five biggest clean energy ETFs .
What is the outlook for cleantech?
Cleantech solutions and alternatives have expanded into the construction, agriculture, manufacturing, pollution-monitoring and carbon footprint management sectors, among many other diverse areas. Moving forward, it's likely that other industries will continue to evolve and look for cleantech options to combat the climate crisis.
As far as consumer products go, electric vehicles (EVs) have been popular among investors for quite a few years, and 2023's third quarter brought record EV sales in the US — while Tesla (NASDAQ: TSLA ) remains a go-to stock, its market share has shrunk as its competitors gain popularity. Additionally, electric vertical takeoff and landing aircraft, known as EVTOLs , are an exciting new prospect that seems promising for investors .
Ironically, innovation in the tech industry has exacerbated environmental concerns such as energy use and carbon emissions, mineral extraction and waste. As new technology like EVs and generative artificial intelligence become more central to daily life, new technologies will need to be developed that mitigate their negative impacts.
The bottom line
Cleantech is a promising investment avenue for those who are passionate about contributing to a sustainable and greener future. After its early bubble, the industry has evolved significantly, and has become a more mature market with realistic return expectations. Investing in the sector could both yield profitable returns and create a positive impact.
Don’t forget to follow us @INN_Technology for real-time news updates!
Securities Disclosure: I, Meagen Seatter, hold no direct investment interest in any company mentioned in this article.
NEO Battery Materials
Overview
NEO Battery Materials Ltd. (TSXV: NBM ; OTCQB: NBMFF) is a Canada-based battery technology company focused on developing silicon anode material for lithium-ion batteries used in electric vehicles (EV), electronics and energy storage systems.The company’s patented silicon anode technology, called NBMSiDE®, utilizes an energy-efficient, one-step nano coating process to i) enable ultra-fast charging, ii) increase EV driving range by greater than 20 percent, and iii) manufacture more than 70 percent cheaper compared to competitors. NBMSiDE® coats strong, durable nanomaterials on the surface of the silicon particles to effectively resolve silicon’s volume expansion problem, enabling reliability and high performance in EV lithium-ion batteries.
Why Silicon and Global Market Growth
EV batteries are composed of four major parts – cathode, anode, separator and electrolyte. Highly discussed battery metals like lithium, cobalt, nickel and manganese are synthesized to form the cathode material. On the anode side, graphite has long been the go-to material since the commercialization of lithium-ion batteries, but major issues, especially with respect to low capacity and slow charging, are impeding the growth of EV adoption globally.
Silicon is recognized as the solely available material to resolve graphite’s deficiencies, offering the allure of high capacity and faster charging times. Given the urgency to integrate silicon as a critical component in EV batteries, the global silicon anode market is expected to grow rapidly from around US$0.4 billion in 2022 to US$28.7 billion in 2032, representing a compound annual growth rate of 54 percent. However, for all its advantages, silicon has its own set of challenges.
During the charge and discharge cycle, silicon tends to expand more than 300 percent in volume, and stabilizing the material has been a significant challenge to the industry. Conventional approaches to mitigate the volume expansion problem of silicon anodes are expensive and unscalable due to energy-intensive processes and high-cost input feedstocks. Most of the companies using silicon anode rely on costly manufacturing processes to circumvent the issue, resulting in a price point that is approximately eight times (US$80 per kilogram) more expensive than graphite anode (US$10 per kg).
Company Highlights
- NEO Battery Materials is a Canada-based battery materials technology company focused on developing silicon anode materials for lithium-ion batteries in electric vehicles (EV), electronics and energy storage systems.
- The company’s patented technology, called NBMSiDE®, offers cost-effective, longer-running and ultra-fast-charging batteries compared to existing state-of-the-art graphite anode materials. NBM is aiming to achieve the 1,000-mile battery for EVs using its silicon anode materials.
- NBM is positioning itself as a low-cost, high-performance silicon anode material supplier for EV lithium-ion batteries. NBM’s ability to manufacture silicon anode materials economically and efficiently is a vital point of differentiation from existing competitors.
- NEO Battery Materials has signed more than 60 NDAs with global-tier companies, including battery cell manufacturers, EV automakers, electronics manufacturers and high-profile battery supply chain companies. With these parties, NBM is conducting more than 20 active material evaluations to strike milestone joint development, collaboration and offtake agreements .
- The company is planning to construct commercial plants both in Canada and South Korea to manufacture NBMSiDE®. Further, NBM is aiming to build additional plants in the U.S. and Europe to establish itself as a global top 10 silicon anode supplier in the EV battery industry.
Key Technology: NBMSiDE®
NBM claims its patented silicon anode technology, called NBMSiDE®, could manage and resolve the volume expansion problem by coating the silicon particles with mechanically durable nanomaterials such as elastic polymers and carbon nanotubes. There are currently eight patents issued and pending for this technology across various jurisdictions.
NBM’s proprietary one-step process enables substantially lower production costs than other silicon anode materials. NBM simultaneously mixes and nanocoats the silicon precursor, additives and nano coating materials to manufacture the final product. Unlike competitors that manufacture in multi-steps at high temperatures of >1,500 degrees Celsius and/or in vacuum systems, NBMSiDE® is produced at room temperature and pressure, realizing significant energy savings and reducing carbon emissions. NBM’s ability to economically manufacture silicon anode materials is a vital point of differentiation from existing companies.
NEO Battery Materials’ innovative NBMSiDE® places the company in an ideal position to leverage this exponential market growth, led by a management team with a proven track record in the global battery industry.NBMSiDE® is paving the way for cost-effective, longer-running and ultra-fast-charging batteries, which can drive down the EV costs and ultimately increase EV adoption. The company aims to achieve the 1,000-mile battery for EVs using its silicon anode materials.
NBM has further optimized its one-step process to achieve consistent, uniform nano coating capabilities – a key factor for high performance and quality control. Uniform nano coating layers reinforced silicon’s structural durability, demonstrating over a 70 percent increase in battery cycle life improvement. NBMSiDE® also retains more than 70 percent higher initial battery capacity (measured in mAh/g) compared to competitors and has realized 5-minute ultra-fast charging in tests.
Successful development and key benefits of NBMSiDE® has caught the interest of downstream users. Having signed more than 60 non-disclosure agreements, which include global battery cell manufacturers and EV automakers, NBM is prioritizing to ink multiple milestone agreements such as joint developments, collaborations and offtakes. To date, the company is conducting more than 20 active material evaluations with global NDA parties to attain such value-creating milestones.Due to technological breakthroughs, downstream customers’ demand for NBMSiDE® has experienced an uptick. To alleviate bottlenecks and order backlogs, NBM is relocating to an expansion facility with larger manufacturing and testing equipment. The company plans to hire additional research engineers to increase the overall R&D productivity for commercialization.
Commercialization will be achieved through constructing mass production plants in Canada and South Korea. With an initial capacity of 240 tons per year, the final plant capacity is estimated to reach 5,000 tons per year. Subsequently, NBM aims to extend its global presence by establishing additional commercial plants in the U.S. and Europe through joint ventures.
With the initial capacity, NBM anticipates an initial revenue of US$12 million representing a supply capacity for 80,000 to 160,000 EVs. At full capacity, revenue generation could increase to US$250 million. NBM plans to build at least three commercial plants by 2030, giving it a capacity of 15,000 tons per year to position itself as a global top 10 silicon anode supplier.
Management Team
Spencer Huh – Director, President and CEO
Spencer Huh has more than 25 years of financial and operational experience in Canada and Korea, with expertise in financial operations, strategy, performance management, and business planning. In the early part of his career, he worked as an investment advisor with large companies such as Hanwha Securities, TD Canada Trust, and BMO Nesbitt Burns. Since 2012, Huh has worked with numerous private and publicly listed companies in Korea and Canada, including mining, medical device, and high-tech companies. He has played an integral role in the establishment, acquisition, and financing for these companies.
S. R. Hwang – Director, Chief Operating Officer and SVP
S. R. Hwang has over 30 years of experience working for Samsung SDI (sixth largest global battery manufacturer), serving as the executive director, chief of purchasing and advisor until 2018. His responsibilities included managing the supply chain, procurement planning and advanced business development. During his time with Samsung SDI, Hwang accumulated a vast network and information pipeline within the lithium-ion battery industry. He has a deep understanding of business development and trade capabilities, as well as specialized knowledge in raw materials, such as cobalt, nickel, and aluminum.
Dr. S. G. Kim – Chief Technology Officer
Dr. S. G. Kim served as the executive vice-president and head of R&D of Hanwha Solutions’ Advanced Materials Division, a multibillion-dollar South Korean conglomerate. Kim led Hanwha Solutions to nearly double new product sales and expand the core technology portfolio by leading several value-added projects for global automotive, aerospace and electronics companies. Prior to joining Hanwha Solutions, Kim held tenure as the global R&D leader at Momentive Performance Materials, the second-largest global manufacturer of silicon-based products. Kim received his Ph.D. in chemical engineering and applied chemistry from the University of Toronto, Canada. He has published high-impact journals in the field of polymers and nanocomposites, and retains 15 patents related to polymers, coatings and silicon-based materials.
Dr. J. H. Woo – Chief Science Officer
Dr. J. H. Woo has worked as a scientific research engineer at General Motors Global R&D Centre, researching nanostructured silicon anode materials with artificial solid electrolyte interphase (SEI), lithium-ion battery performance optimization, and electrode material synthesis. His research expertise focuses on the synthesis of silicon anode materials for high-energy batteries in long-range EVs and on interfacial engineering for sulfide-based all-solid-state batteries (ASSB). Receiving his Ph.D. in mechanical engineering at the University of Colorado Boulder, Woo has published influential literature in international journals, such as in Advanced Materials, that advanced the field of silicon anodes and ASSBs. His high-impact research has led to a major battery materials NASDAQ-listed company licensing Woo’s patent related to ASSBs.
Dr. D. M. Whang – Lead Scientific Advisor
Dr. D. M. Whang’s research expertise lies in the field of fabrication and manufacturing of low-dimensional nanomaterials, especially graphene, semiconductor nanowires, and porous nanostructures for applications in EV lithium-ion batteries, fuel cells and various energy storage applications. Whang owns more than 50 patents of which two-thirds are co-owned with Samsung Electronics, and he has also co-authored more than 177 peer-reviewed publications with over 13,850 citations. Whang is a professor at the School of Advanced Materials Science & Engineering and Advanced Institute of Nanotechnology at Sungkyunkwan University (SKKU). He received his Ph.D. in chemistry from Pohang University of Science and Technology (POSTECH) in 1997, and prior to joining SKKU, he was a senior research fellow at Harvard University.
This article was written in collaboration with Couloir Capital Ltd.
Turning Australia's Looming Energy Crisis into Opportunity
Australia faces a looming energy crisis driven by a combination of unfavourable conditions and challenges in the energy market . The situation, however, provides an opportunity for the country to diversify its energy sources, increasing its renewable and green energy generation capacity and reducing fossil fuel reliance in the process.
This market has created an ideal playing ground for Australian renewable and green energy producers, for whom the opportunities and incentives have never been greater.
A market in crisis
Australia's energy market has been something of a bugbear for residents and regulators alike since the 2000s. After a promising period of policy reform in the 1990s, the country's energy market lost considerable momentum, and Australia soon struggled to consistently deliver reliable, affordable electricity. The issue was exacerbated when, after making little progress in addressing its policy issues, Australia found itself facing the prospect of a clean energy transition .
The late 2010s saw very little improvement for the state of Australian energy generation. Though it was clearer than ever that the country needed to address its long-running energy policy issues and update its outdated energy model, there was very little consensus on how . State governments took an approach that was, at best, uncoordinated, with each introducing its own set of energy policies .
"The nature of the energy sector has changed from a centralised, top-down, slowly changing system dominated by big businesses, governments and large investments to a chaotic, diverse, decentralised and rapidly changing jungle," Alan Peers, a senior industry fellow at RMIT University, wrote in 2017 . "Energy markets are failing to deliver on their objective of low prices, reliability and protection of the long-term interests of consumers … There is increasing potential to switch from gas to electricity and renewable fuels."
At the time, Peers urged that 2017 needed to be the year that Australia addressed its long-running energy issues. Unfortunately, it appears that did not happen. Instead, by June 2022, Australia's top power producers were struggling to turn a profit , even in the face of soaring energy prices.
The Australian Energy Market Operator warns in an August 2023 report that Australia’s power grid may come under significant strain as hotter and drier summer conditions intensify. The report stresses the need for “imminent and urgent investment” in energy, particularly in Eastern Australia to beef up the electricity grid.
In Western Australia, which is the world’s most isolated grid network, the issues are potentially worse in the long term. In 2023, the Australian Energy Market Operator announced that the South West Interconnected System (SWIS), Western Australia's main electricity network, will face a major supply/demand deficit within the next decade . This announcement was a shock to many. After all, just 12 months earlier, the operator reported a positive outlook for SWIS.
Unfortunately, that report was based on a relatively flat projected increase in demand, and that was rendered thoroughly obsolete by both emerging and ongoing trends; it has since been updated to a maximum projected increase of 220 percent.
First among the driving trends is the massive spike in oil and gas prices that occurred with Russia's invasion of Ukraine — it was an increase of a magnitude not seen in decades. Unfortunately, in Australia this price hike coincided with outages at multiple domestic coal-fired plants.
In its 2022/2023 national budget, the Australian government committed to AU$25 billion in clean energy spending, supporting its goal of net-zero emissions by 2050. Fossil fuels contributed 68 percent of total electricity generation in 2022, including coal (47 percent), gas (19 percent) and oil (2 percent). Renewables contributed 32 percent of total electricity generation.
In light of these trends, Western Australia is planning a major expansion of its power grid. Australia's federal government has also instituted multiple programs to encourage growth and investment in its renewable energy market, including the AU$2 billion Hydrogen Headstart Program . Though these measures represent a step in the right direction, for some, they aren't enough.
In September 2023, a coalition of organisations and activist groups called for the country to invest at least AU$100 billion into the renewable energy market — something they maintain would bring Australia more in line with the European Union and the US.
Embracing renewable power
The large-scale supply chain disruptions that occurred between 2020 and 2022 represented a considerable windfall for the oil and gas market. Since then, however, prices have begun to stabilise — and in the process continued their steady decline. This is unsurprising.
As noted by Energy Post, the oil and gas business model is fatally flawed . Production costs will inevitably continue to increase as commercially viable deposits become progressively harder to find. Driving the point home, the publication notes that all oil and gas supermajors experienced declining revenues and slimmer margins in the second quarter of 2023.
Renewable energy, meanwhile, will continue to thrive.
These global-scale trends are very much reflected in Australia's energy market, according to Mordor Intelligence . Estimated at 46.06 gigawatts in 2023, Australian renewable energy is projected to reach 79.77 gigawatts by 2028. Solar power generation is expected to dominate this market due to an increase in distributed solar power installations.
These installations will prove particularly valuable in the Australian interior, where they will present a compelling alternative to long-distance transmission grids and gas/diesel-powered microgrids. Rooftop solar power is also a vital part of Queensland's renewable energy targets.
Market growth in solar power will be further accelerated by the Australian government's plans to establish funding and policies targeted at the rapid growth of solar energy . Notably, several organisations have already made considerable inroads here.
Fortescue Metals Group (ASX: FMG ,OTCQX:FSUMF), for instance, has announced plans to build a 5.4 gigawatt solar, wind and battery energy storage project in the Pilbara region. Australian energy and telecommunications provider AGL , which operates Australia’s largest private electricity generation portfolio within the national electricity market, has been beefing up its renewable energy portfolio in line with plans to phase out its coal-power generation by 2035.
Frontier Energy (ASX:FHE,OTCQB:FRHYF) is another company with promising prospects. A near-term, fully integrated renewable energy and hydrogen producer, Frontier plans to leverage its flagship Bristol Springs project — with shovel-ready solar generation of 355 megawatts and the potential to scale to over 1 gigawatt — to make inroads into green hydrogen. The company already meets all criteria for the Australian government's Hydrogen Headstart Guidelines.
Other major players in Australia's renewable energy market include Bright Energy Investments, which owns and operates multiple solar and wind farms throughout SWIS, and Infigen Energy (ASX: IFN ), whose wind farms have a total power generation capacity of 557 megawatts.
Investor takeaway
Australia's energy market faces a looming and inevitable crisis of supply and demand. For investors, however, this crisis is an opportunity. Multiple companies have already stepped forward to help the country diversify its power generation and embrace renewable, sustainable energy — making now an ideal time to consider adding them to your portfolio.
This INNSpired article is sponsored by
Frontier Energy (ASX:FHE,OTCQB:FRHYF)
. This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by
Frontier Energy
in order to help investors learn more about the company.
Frontier Energy
is a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Frontier Energy and seek advice from a qualified investment advisor.
Central Perth Location for WA’s First Public Green Hydrogen Refuelling Station
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 .
WA’s Electricity Grid Constraints Highlight Strategic Advantage of the Bristol Spring Project
Frontier Energy Limited (ASX: FHE; OTCQB: FRHYF) (Frontier or the Company) engaged independent specialist energy and resources consultancy ResourcesWA, to undertake an assessment (the Report) of Western Australia’s major electricity network, the South West Interconnected System (SWIS).
The Report focused on evaluating potential capacity for large scale connections at existing substations and terminals across the 330kV and 220kV transmission network, from now until 2032.
This Report was commissioned by the Company to gain a better understanding of new large- scale developments on the SWIS, similar to the potential of the Bristol Spring Renewable Energy Project (the Project) in the short to medium term.
The development of multiple, large scale energy projects on the SWIS would affect wholesale electricity prices (if supply outstripped demand) and therefore potential returns on Frontier’s Stage One Project development that is planned to commence in 2024.
The Report however concluded that “there are no other opportunities that exist on the SWIS for the development of a connected generator of the scale of the Bristol Spring Renewable Energy Project in the short or medium term” . The reasons for this include:
- The North Region is limited due to the existing thermal constraints on the 330kV and 132kV transmission networks in this region (see map below for region locations);
- The East Region does not present any opportunities for large scale network connected generation in the near term due to limitations of the 220kV transmission. Limitations on transfer capacity from Merredin west limit new generation in the middle area of the East Region, with new wind developments at Kondinin absorbing transmission capacity between Merredin and Collie;
-
The South Region Terminals present immediate and near term opportunities
for large scale network connection.
However, within the 330kV network both Oakley and Kemerton are dependent upon existing industrial loads, with Kemerton already at its upper limits due to industrial loads within the Kemerton industrial area.
The Collie region, including the Muja and Bluewaters substations, have substation connection and transfer capacity within the 330kV network, and will present opportunities following the closure of the coal-fired power stations (planned for 2029). However, the region is surrounded by State forests, limiting land availability, with the majority of cleared land currently mined for coal and requiring rehabilitation post 2030; and - Until 2030, only Landwehr Terminal (where the Project is located) can readily accommodate new large scale renewable connections of 250MW or greater . It is expected that a number of Behind the Meter connections will be developed by industry whilst smaller scale renewable and large scale battery storage are expected to be developed in conjunction with existing generators at selected substations and terminals.
Figure 1: SWIS 330kV – 220kV network and Regions
The Report supports the Australian Energy Market Operator annual Wholesale Electricity Market Electricity Statement of Opportunities (ESOO Report), which stated “the urgency of advancing generation, storage, demand side management and transmission projects to bolster reliability and support a rapid and orderly energy transition. Its findings emphasise the need for additional capacity procurement and expedited progress of capacity projects in the SWIS.” The ESOO Report also highlighted demand is forecast to increase significantly over the next decade to at least 78% (Expected Case), with an Upside Case increasing by more than 220%.
A copy of the ESOO "Report is attached to this announcement.
Frontier Managing Director, Sam Lee Mohan, commented : “While we always believed the Bristol Springs Renewable Energy Project was the best undeveloped renewable energy project in WA, we did not appreciate that it is the only project of its size that can access the SWIS network in the short to medium term. This again highlights what a unique opportunity the Company has with the Project, as well as the growing importance of the Project to the State, at a time when energy prices are continuing to rise and energy security is becoming more important than ever.
The next few months are shaping up as the most significant in the Company’s history with multiple major events on the horizon. First, we expect to complete the acquisition of Waroona Energy Inc. in December 2023. This transaction will then be followed by a DFS for Waroona’s Stage One Solar development (120MW) as well as the Peaking Plant Study expected to be released in 1Q24.”
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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