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Province Resources (ASX:PRL) - Managing Director, David Frances
Managing Director, David Frances
Source: Business News
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  • Province Resources (PRL) enters a non-binding memorandum of understanding to support a feasibility study
  • Province, along with its HyEnergy Project partner Total Eren, entered the MOU with Global Energy Ventures to evaluate the technical feasibility and cost of green hydrogen exports to assess its commercial value
  • The purpose of the study is to provide project partners with confidence to warrant compressed hydrogen as the preferred export method in the next phase of project engineering
  • Province Resources last traded at 14.5 cents on August 6

Province Resources (PRL) has entered a non-binding memorandum of understanding (MOU) to support a feasibility study.  

Province, along with its HyEnergy Project partner Total Eren, entered the MOU with energy transition company Global Energy Ventures to support a technical and commercial feasibility study on exporting green hydrogen to the Asia-Pacific region.

The HyEnergy Project is being developed in the Gascoyne region of WA. The purpose of the study is to provide HyEnergy project partners with the confidence to warrant the selection of compressed hydrogen as the preferred export method in the next phase of project engineering.

Under the MOU Global Energy Ventures will undertake the study to evaluate the feasibility of exporting green hydrogen from the HyEnergy Project. This includes the transmission from the production facility to an offshore ship loading buoy and then into markets which use compressed hydrogen.  

Global Energy will bear the brunt of costs for the study, while the collaboration remains on a non-exclusive basis.

“We are keen to understand the benefits of compressed hydrogen in relation to other means of transporting our potential green hydrogen product to market,” Province’s CEO David Frances said.

“GEV are leaders in this technology and will bring that experience to the study.”

Province Resources last traded at 14.5 cents on August 6.

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