Perth, August 2, 2022 AEST (ABN Newswire) – BPH Energy Limited (ASX: BPH) is pleased to inform the market that following its general meeting on June 21, 2022 in which shareholders voted unanimously to approve an investment in hydrogen technology company, Clean Hydrogen Technologies Corporation (Clean Hydrogen Technologies) that BPH and its entity Advent Energy Ltd (Advent) have now opted to acquire a 10% stake in Clean Hydrogen Technologies for US$1,000,000, as stated in its notice to shareholders at ASX released May 24, 2022. (8% BPH and 2% Advent).
BPH and Advent have an additional right of first refusal to invest in Clean Hydrogen Technologies up to a maximum of an additional $1 million for an additional 10%, no later than December 31, 2022.
Advent affirmed its stance on Net Zero and clean energy technologies by issuing a statement saying: – “Advent Energy is a strong supporter of plans for Net Zero by 2050 and sees the company playing a direct role in achieving of this objective, particularly in New South Wales. .
It aims to do this in two ways: first, by finding the gas closest to Australia’s largest energy market; gas that can be used to provide a reliable back-up solution for increased use of renewable energy in New South Wales. Second, through its projects exploring opportunities offshore New South Wales for carbon capture and storage (CCS), a key clean energy technology.”
“Investment in clean hydrogen technologies complements this strategy. Hydrogen technologies can make our economies cleaner, safer and more resilient. Providing zero-emissions energy will be key to meeting global climate goals. There is a huge opportunity for hydrogen energy technology to leverage existing gas infrastructure.There is a looming energy crisis in Australia with the need to cleanly switch to renewables.
Hydrogen will play an important role in ensuring that we complement this shift with better sources now and in the future. BPH Energy is proud to announce its investment in Clean Hydrogen Technologies.
Growth of global hydrogen markets
The transition from hydrocarbons to hydrogen, an emission-free product, now presents real savings and global growth.
The global hydrogen market is expected to grow from less than US$100 billion in 2021 to over US$200 billion by 2030 and over US$500 billion by 2050 to meet the demands of Net Zero Emissions by 2050 (International Energy Agency Global Hydrogen Review Report 2021).
Clean Hydrogen Technologies places the American market at the center of its development plans. The US government announced $9.5 billion in funding for the hydrogen industry, as part of the bipartisan $1.2 trillion infrastructure bill, the Infrastructure Investment and Jobs Act signed by President Joe Biden.
A report by Statista projects that hydrogen demand in the United States is expected to reach 73 million metric tons by 2050, primarily due to its use as a transportation fuel.
Clean hydrogen technologies
Clean Hydrogen Technologies is a company registered in Delaware in the United States with technology to produce clean hydrogen.
They are currently building a system for commercial use, using their own unique catalysts and bespoke engineering processes, to generate clean hydrogen and conductive carbon used to make batteries. The production of the two precious products comes from the treatment of natural gas without CO2 emissions and does not require the use of large volumes of water.
Their capabilities will help their customers accelerate their path to CO2 neutrality, using an abundant natural resource, natural gas, with full existing infrastructure and supply chains in place. Their system has a modular system design for supplying large-scale solutions to meet upstream natural gas processing or small-scale downstream needs to support hydrogen hubs for transportation.
As part of their continued innovation and development, they have filed 2 full US patents and plan to continue filing more patents in the coming months.
These patents reflect their ability to produce clean hydrogen and conductive carbon black without CO2 emissions.
About BPH Energy Limited
BPH Energy Limited (ASX: BPH) is an Australian Stock Exchange listed company that develops biomedical research and technology within Australian universities and hospital institutes.
The company provides seed funding, project management and go-to-market strategies for direct collaboration, spin-off or licensing.
BPH funds commercial strategies for proof of concept, research and product development, while the institutional partner provides the infrastructure and basic scientific expertise.
BPH is currently partnered with several academic institutions including the Harry Perkins Institute for Medical Research and Swinburne University of Technology (SUT).
BPH Energy Limited