CLARA Energy welcomes the announcement made by the NSW, Victorian and QLD governments on the Hydrogen Highway strategy.
CEO Nick Cleary said "This announcement is a great kick-start to the domestic green hydrogen industry. By building refueling stations and providing grants to long haul trucks, the governments are underwriting two of the key ingredients in making green hydrogen a success. It is leadership, like the Hydrogen Highways strategy, that will enable a smooth transition from diesel to green hydrogen over the coming decades!
CLARA Energy is building one of the world's largest green hydrogen production facilities in Tarcutta in NSW. Tarcutta is the geographical central point between Sydney and Melbourne. CLARA Energy's project is a first mover of green hydrogen at scale in Australia and, given it is located adjacent to the Hume Highway and watches 4,000 heavy haulage trucks pass its gate each day, squarely aligns with the governments' Hydrogen Highways strategy.
Green hydrogen is essential to decarbonise the heavy haulage transport sector. CLARA Energy's project will produce approximately 25,000kg of green hydrogen per day in stage one with two subsequent stages to be added in the future. Given the renewable source of energy, the process enables true 'green hydrogen' to be produced and sold to the transport sector.
Using proven technology including solar PV and electrolysers, CLARA Energy will turn water into its core elements Hydrogen and Oxygen. Detailed planning and environmental studies are underway with an anticipated construction start date mid 2024 with operations planned to commence in mid 2025
CLARA Energy has appointed Acardis as technical advisers, PwC as commercial advisers and DLA Piper as legal counsel.
CLARA Energy also boasts former Australian trade minister Andrew Robb as Chairman of the company; "First mover status will secure CLARA Energy's position in the market delivering growth for the company and significant returns for our investors." Mr Robb commented.
In a final comment Mr Cleary noted "only a few years ago the issue was cost disparity between diesel and green hydrogen. With the cost curve reduction seen across both solar PV and electrolysers over the past few years and with the significant increase in cost of oil, and therefore diesel, this cost competitiveness of diesel has been completely eroded. This is why we are seeing significant inquiry from fleet operators looking to manage an orderly transition to cleaner green hydrogen rolling stock in an effort of appeasing shareholders, governments and society at large. To have the chance to make it financially advantageous is even better"
