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Be the first with the news that moves the market- Strike Energy (STX) aims to launch a low carbon integrated energy and industrial manufacturing centre in the Three Springs Shire of Western Australia
- The company enters a binding agreement to acquire 3500 hectares of freehold farming land, which sits above its South Erregulla gas discoveries and carbon sequestration reservoirs
- The centre will be called the Mid West Low Carbon Manufacturing Precinct, with Strike to assess the potential for other collaborators to help with the precinct’s development
- Strike will pay $13.5 million for the WA land and has agreed to lease the farm back to its current owners on a periodic lease
- Shares in Strike Energy last traded at 30 cents each
Strike Energy (STX) has made moves to launch a low carbon integrated energy and industrial manufacturing centre in the Three Springs Shire of Western Australia.
The company entered a binding agreement to acquire 3500 hectares of freehold farming land, which sits above its South Erregulla gas discoveries and carbon sequestration reservoirs.
The centre will be called the Mid West Low Carbon Manufacturing Precinct, with Strike to source the potential for other collaborators to help with the precinct’s development.
The company’s Project Haber plant will be relocated to the new facility, which is expected to reduce costs, streamline environmental approvals, and integrate on-site renewable energy.
Deputy Premier and Minister for State Development of WA Roger Cook said he strongly endorsed the decision.
“The pursuit of a low-carbon manufacturing precinct has the opportunity to generate substantial regional prosperity through major job creation and import substitution,” he said.
“Through projects like this, Western Australia continues to demonstrate that it will be a global development powerhouse in the transition to a low-carbon and ultimately net-zero economy.”
Strike will pay $13.5 million for the WA land and has agreed to lease the farm back to its current owners on a periodic lease.
The company is currently working with financiers on a mortgage facility to help fund the acquisition.
Shares in Strike Energy last traded at 30 cents each.
