Real Energy’s hydrogen division Pure Hydrogen has signed a binding agreement with Liberty Hydrogen to establish a joint venture company that will develop four large-scale hydrogen projects in Australia. These large-scale hydrogen manufacturing and distribution hubs are planned to be developed on Australia’s East Coat – Project Jupiter (Gladstone) and Project Mars (Mackay) in Queensland, Liberty North (Newcastle) in New South Wales and Liberty South (South East Victoria) in Victoria.
This planned joint venture, Pure Hydrogen International Inc, will be incorporated in the United States of America. Pure Hydrogen will initially have a 60% stake in the joint venture. The company will contribute the two potential projects in Queensland while Liberty Hydrogen will contribute the other two sites located in New South Wales and Victoria.
Real Energy is an Australian east coast focused energy company. In July 2020, Strata-X Energy and Real Energy merged and renamed the merged company Pure Hydrogen. The merger is expected to be completed in February 2021. Meanwhile, Liberty Hydrogen is 100% owned by Liberty Energy Capital Pty. Ltd, an Australian investment company focused on renewable fuel and energy projects.
Hydrogen and fuel cell technology is rapidly gaining traction and the global demand for the same is accelerating as it is a renewable source of energy and can be exported at a large scale. The Australian Renewable Energy Agency (ARENA) forecasts that the Australian hydrogen exports will amount to a total of $1.7 billion by 2030.