Clean Hydrogen, Onshore Energy sign hydrocarbon process pact
SUMMARY
Sydney-listed BPH Energy on June 24 announced that its investee companies, Clean Hydrogen Technologies Corp. and Onshore Energy, have entered into a...
By Shardul SharmaPOSTED IN:
Sydney-listed BPH Energy on June 24 announced that its investee companies, Clean Hydrogen Technologies Corp. and Onshore Energy, have entered into a hydrocarbon process agreement. BPH holds an 8% direct interest in Clean Hydrogen and a 36.1% direct interest in Onshore, a subsidiary of Advent Energy.
Onshore holds rights to gas fields, including the Weaber gas field in the onshore Bonaparte basin in the Northern Territory, Australia. Under the agreement, Clean Hydrogen will process hydrocarbons from Onshore's rights and produce hydrogen and carbon black products.
Clean Hydrogen specialises in processing hydrocarbons from natural gas to produce hydrogen and carbon black and carbon nanotube products. The core process used by Clean Hydrogen has no CO2 emissions.
Clean Hydrogen is developing its "commercial system," which aims to achieve scale and commercial objectives for the sale of clean hydrogen products, BPH said. The commercial system involves consuming and processing hydrocarbons using Clean Hydrogen's own thermocatalytic reactor process and catalysts to produce hydrogen at a commercial scale.
The material terms of the agreement state that Onshore will review the commercial system once it is ready, subject to certain conditions. Clean Hydrogen will keep Onshore informed of the progress and completion timing of the commercial system, planned to be completed in 2023 in India. Clean Hydrogen will share design details and capabilities to assist Onshore in understanding how the systems will integrate with Onshore's supply of hydrocarbons.
Both parties will work together to develop a plan, including timelines and production needs for Clean Hydrogen Products from Onshore's hydrocarbons. Once Onshore has a clear date for hydrocarbon production, both parties will finalise the planning for producing Clean Hydrogen Products. Clean Hydrogen will be responsible for conducting due diligence related to local regulatory requirements for operating the systems to produce the clean hydrogen products.
