- QEM (QEM) has teamed up with technical consultant DNV Australia to conduct a pre-feasibility study (PFS) into generating power from solar and wind farms
- This aligns with the company's goal of positioning its Queensland-based Julia Creek Project as a reliable supplier of green hydrogen
- DNV will develop a wind turbine layout and assess wind farm resources to evaluate how beneficial wind and solar are as renewable energy resources
- The PFS is expected to wrap up by the end of the second quarter and will be followed by more wind resource measurements and solar resource monitoring
- QEM is up 2.63 per cent and shares are trading at 19.5 cents
QEM (QEM) has teamed up with DNV Australia to conduct a pre-feasibility study (PFS) into generating power from solar and wind farms.
This aligns with QEM's strategy of assessing the green hydrogen potential at its flagship Julia Creek vanadium and oil shale project in north Queensland.
This 250-square-kilometre project has a JORC 2012 mineral resource of 2.76 million tonnes at 0.3 per cent vanadium pentoxide and is one of the single largest ASX-listed vanadium resources — representing a significant opportunity.
DNV is a major technical consultancy who operates in over 100 countries. It will use its expertise to also develop a preliminary wind turbine layout and assess wind farm resource mapping and modelling.
The wind portion of the PFS will help the company to evaluate how wind and solar work at the site as potential renewable energy sources for an electrolyser to produce hydrogen.
"Engaging DNV demonstrates that we are swiftly laying the foundation for green hydrogen opportunities at Julia Creek," Managing Director Gavin Loyden said.
Last month, QEM engaged E2C Advisory to investigate the capital and operating costs required to produce green hydrogen by using a solar-powered electrolyser at Julia Creek.
Basically, an electrolyser uses electricity to break water into hydrogen and oxygen through the electrolysis process.
The PFS is expected to be completed by the end of the second quarter and will be followed by more wind resource measurements and solar resource monitoring.
QEM is up 2.63 per cent and shares are trading at 19.5 cents at 10:55 am AEDT.