Port Anthony Renewables signs agreement with Babcock & Wilcox

Babcock & Wilcox is a US$640 million NYSE listed company bringing more than 150 years’ experience in delivering and developing renewable energy technologies. It employs over 2500 staff internationally.

The AUD$30 000 000 agreement will see the company’s BrightLoopTM hydrogen technology – which is part of its ClimateBrightTM suite of decarbonisation technologies – join the development of the Port Anthony Green Hydrogen Hub. With fast modular scalability, the joint venture (JV)’s initial hydrogen output will be targeted at 3 tpd. The PAR-BrightloopTM JV will utilise a proprietary regenerable oxide particle to generate hydrogen from waste timber and other woody feedstock, however it also has the flexibility to accept a variety of fuels. It also can be used to isolate CO₂ for carbon capture processes.

Port Anthony Renewables Ltd. is an Australian company operated by the Anthony family, which has owned and operated the port for over 20 years. The company benefits from its strategic location and experienced management allowing it to take advantage of the burgeoning Australian hydrogen sector which is estimated to be worth US$56 billion by 2050.

Strategically and geographically situated to take advantage of this emerging energy market, it will maintain its own production of hydrogen and oxygen, and will generate revenues from its JVs with other hydrogen producers such as Infinite Blue Energy. It is poised to handle in excess of US$632 million worth of cargo, and produce over 6 million kg of hydrogen, over the next five years.

Major economies around the world are rapidly shifting to renewable energy sources as they strive to meet their zero emissions targets. The growing demand for hydrogen in particular is evident with global oil majors such as BP and Woodside announcing their hydrogen aspirations.

The Australian Renewable Energy Agency estimates global demand for hydrogen exported from Australia could be over 3 million tpy by 2040, which could be worth up to US$10 billion annually to the economy by that time. This makes it a major focus for Australia, with the CSIRO releasing a National Hydrogen Roadmap and the Australian government putting in place its National Hydrogen Strategy.

Read the article online at: https://www.globalhydrogenreview.com/product-news/19102021/port-anthony-renewables-signs-agreement-with-babcock-wilcox/