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Australian oil and gasoline exploration and improvement firm Elixir Vitality has signed a memorandum of understanding with the Mongolia Inexperienced Finance Company to assist financing for the primary part of a proposed inexperienced hydrogen challenge deliberate for the South Gobi area of the East Asia nation.
Adelaide-headquartered Elixir Vitality has introduced it has achieved progress on a number of fronts for its proposed Gobi H2 inexperienced hydrogen challenge in Mongolia, together with the signing of a memorandum of understanding (MoU) to assist challenge finance.
ASX-listed Elixir, whose technique rests on the view that the Gobi area is one the of greatest places on the earth for producing and exporting inexperienced hydrogen, given its renewable sources and rapid proximity to probably hydrogen markets, mentioned it had executed a memorandum of understanding (MoU) with the Mongolia Inexperienced Finance Company (MGFC) because it seeks to progress its renewable power ambitions.
Below the MoU, the 2 entities will work collectively to determine carbon offset alternatives to scale back exploration and appraisal stage scope 1 and a pair of carbon emissions, develop bigger scale forestry and nature associated offsets, and work with worldwide monetary establishments over the challenge financing of Gobi H2.
Elixir managing director Neil Younger mentioned the corporate is happy to be working with the Mongolian authorities to research the world-class inexperienced hydrogen potential of the nation which is bordered by Russia to the north and China to the south.
Elixir, which operates in Mongolia and the USA, mentioned it might additionally search to work with the Mongolian authorities and different potential stakeholders to carry ahead Australia’s experience within the nascent hydrogen financial system in technical, industrial and authorized areas.
“All of the work we’re doing on our Gobi H2 challenge serves to bolster our authentic beginning idea: the nation is a possible tier-one location for large-scale hydrogen exports,” Younger mentioned.
“Elixir’s first-mover benefits are being progressively locked in and it’s improbable to see the quickly rising curiosity on this future-facing trade from a number of native and worldwide stakeholders.”
Picture: Elixir Vitality
The signing of the MoU follows Elixir’s just lately commissioned unbiased report from power analyst K1 Capital which evaluated the wind and photo voltaic useful resource potential of the South Gobi area for the manufacturing of inexperienced hydrogen.
The report estimates the challenge location has a mixed wind and photo voltaic utilisation of 79%, in comparison with the 60% charge within the Southern Goldfields, and 45% within the Pilbara area in Western Australia. The report mentioned that is underpinned by very excessive wind speeds, together with a chilly local weather which might assist enhanced photo voltaic efficiencies.
Elixir mentioned a location with a capability issue of 79% will produce about 60% extra hydrogen from the identical capital funding than an space with a roughly 50% capability issue.
Younger mentioned the corporate believes Mongolia is “exceptionally” effectively positioned to provide what are predicted to be substantial hydrogen imports.
“The K1 Capital report helps our thesis that the South Gobi area of Mongolia has such potential – not solely given its location instantly proximate to markets, but additionally its excellent renewable sources,” he mentioned.
“The wind and photo voltaic mixture in our challenge space is nearly as good as now we have seen anyplace.”
Whereas Elixir is but to launch particulars concerning the dimension of the proposed challenge, it late final yr acquired the 50 MW Photo voltaic Ilch photo voltaic challenge being developed within the South Gobi desert by Mongolian funding agency Nova Terra and Thailand-based photo voltaic challenge developer Symbior Photo voltaic.
Picture: Elixir Vitality
Elixir mentioned it’s now harvesting detailed knowledge for each wind and photo voltaic within the area utilizing SODAR (Sonic Detection and Ranging) gear supplied by Sydney-based know-how firm Fulcrum3D.
Elixir mentioned it has additionally ordered a solar-focused monitoring unit from Fulcrum3D that can be deployed on the Photo voltaic Lich photo voltaic farm. Will probably be put in to offer knowledge that can help challenge funding capability.
“The acquisition of Photo voltaic Ilch is a cloth step within the implementation of our comparatively just lately introduced hydrogen technique, however is just one of variety of strikes we’re making on this entrance,” Younger mentioned.
Elixir mentioned an idea stage research has additionally been commissioned from Australian engineering agency GPA Engineering for a pilot challenge to provide inexperienced hydrogen to Inside Mongolian metal mills in China.
The corporate mentioned it has additionally initiated a industrial research with worldwide power consulting agency Rystad Vitality into China’s long-term hydrogen demand and provide.
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