So let me get this straight. WHN is going to use excess power when generating with wind to drive electrolysis to produce hydrogen. They then need to store the hydrogen and use it to generate electricity when the wind is not blowing. It sounds good, but it also sounds high risk. Does WHN have any operating wind turbines? Are they going to use the funds from the IPO to build them?
“WHL hopes that with part of the proceeds from this offer it may gain a consent to build the Lochshore Hydrogen Plant whereupon WHL will need to source further funds to construct the plant.
Woolsthorpe is currently WHL’s only ongoing development project in Australia. Its development costs up to the time of construction have been estimated at $ 10,082,500.”
The time to get a project off the ground is at least 1.5 years from the end of stage 2. How far along are they in their progress? Are they still at their initial evaluation stage? I understand the need to load level wind power, but there are many alternatives already out there, batteries etc.
Good luck with it anyway. I hope it all works out.
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