- Hexagon Energy Materials (HXG) makes progress on its pre-feasibility study (PFS) for its proposed Pedirka clean hydrogen project in the Northern Territory
- According to the company, its plans to maximise its use of renewable energy by focusing on blue ammonia as a hydrogen carrier
- Hexagon has identified a preferred location for a hydrogen hub at Middle Arm in the vicinity of Darwin’s port
- The company says its next step is completion of financial modelling and commercial analysis work.
- At market close, December 13 shares traded at 7.5 cents
Hexagon Energy Materials (HXG) has made progress on its pre-feasibility study (PFS) for its proposed Pedirka clean hydrogen project in the Northern Territory.
The company says its focus will initially be blue ammonia, as a hydrogen carrier, produced through fossil fuel feedstock and carbon capture and storage.
Longer-term, Hexagon plans to transition to green hydrogen in liquid form. The company says when hydrogen production technologies and liquid hydrogen handling and transportation technologies deliver further cost reductions, then fully renewable-based hydrogen may become a more commercially viable product.
Additionally, the company has applied for funding through the Federal Government’s “Clean Hydrogen Industrial Hub” grant program. It says it aims to fund a feasibility study for a hydrogen hub for Middle Arm at the port of Darwin.
Hexagon says its next step is the completion of financial modelling and commercial analysis work.
The company expects further announcements will be made as soon as possible, including in relation to the targeted December 31, 2021 PFS completion date.
Shares last traded at 7.5 cents at market close December 13.