Join our daily newsletter At The Bell to receive exclusive market insights
- In its pursuit of producing turquoise hydrogen, Pure Hydrogen (PH2) has signed a binding term sheet with French tech company Pleneseys
- The companies will jointly commercialise Plenesys’ HyPlasma process, a form of methane pyrolysis, or turquoise hydrogen, which can be used to make clean energy products
- Importantly, the HyPlasma process uses five times less electricity than a green hydrogen electrolysis process and doesn’t produce any carbon oxide or carbon dioxide emissions
- Under the deal, Pure Hydrogen will have exclusive rights to commercialise the HyPlasma process in Australia, key South East Asian countries and southern Africa for 10 years
- PH2 shares are up 9.09 per cent to trade at 42 cents
Pure Hydrogen (PH2) has signed a binding term sheet with France-based tech company Pleneseys to commercialise the Plenesys HyPlasma process.
The companies’ collaboration will start with a demonstration pilot plant in Brisbane which is expected to be commissioned within the next 12 months.
The HyPlasma process is a form of methane pyrolysis, which is the thermal decomposition of methane molecules in an oxygen-free reaction chamber. The key component is Plenesys’ unique, patented A/C Plasma torch system which allows continuous, automated operation.
Importantly, the process consumes five times less electricity than an equivalent capacity green hydrogen electrolysis process, doesn’t consume any water, and produces no carbon oxide or carbon dioxide emissions.
This agreement aligns with Pure Hydrogen’s goal of producing turquoise hydrogen which is made via the methane pyrolysis process.
Pure Hydrogen has reportedly been investigating methane pyrolysis for the last two years and plans to use the Plenesys’ HyPlasma process to manufacture clean energy products like hydrogen and value-add carbon products, including graphene, from natural gas and biomethane.
“Turquoise hydrogen is a cleaner use of natural gas (methane), and graphene has many emerging applications in electronics and high-strength, lightweight materials, which is particularly important in the production of batteries, electronic equipment, fabrication and building materials,” PH2 Managing Director Scott Brown said.
Under the term sheet, Pure Hydrogen will have exclusive rights to commercialise the HyPlasma process in Australia, as well as in key South East Asian countries and southern Africa for an initial 10 years. There is an option to extend the agreement and add new regions.
PH2 shares were up 9.09 per cent to trade at 42 cents at 1:00 pm AEDT.
