https://smart-energy.energytechrevi...=facebook&hss_channel=fbp-102256154974734So Providence Asset Group (PAG) are one of ECT's consortium partners. I had a look through the ECT "
supporters" & checked out
LAVO. Very impressive.
"
GHD is providing product development support for the world’s first household hydrogen energy storage system, known as LAVO TM, being developed by investment firm Providence Asset Group and the Hydrogen Energy Research Centre at the University of NSW."
PAG are the cornerstone investors for LAVO and one of the PAG founders is also the LAVO ceo. LAVO recently won an award for top 10 best tech innovations for the Asia-Paciific (see link top of post).
PAG/LAVO are presently building 300MW (Australia's largest power station LoyYang A/B is about 3200MW) of solar for about $500m.LAVO hydrogen storage is the central attraction of the project. They already have an offtake withe Japanese monster Marubeni.
"
Japanese industrial giant Marubeni Corp has signed a landmark deal with Australian investor Providence Asset Group for the development of 30 community-based solar farms which will combine battery and hydrogen storage.
The agreement will see Marubeni subsidiary SmartestEnergy buy the output from the 30 solar farms owned by PAG, which will have a combine generation of around 500GWh a year, broadly equivalent to a 300MW solar installation.
The solar farms will incorporate what the two parties describe as a “world first” dual technology that integrates lithium-ion batteries and green hydrogen energy production and storage units, and they also have an eye on the potential of green hydrogen exports to Japan."https://reneweconomy-com-au.cdn.amp...olar-farms-with-battery-and-hydrogen-storage/That news was July 2021 with 30 farms. It's now 40. In my reading I notice things are moving VERY quickly with PAG/ LAVO.
https://www.commbank.com.au/articles/newsroom/2021/10/CBA-backs-solar-farms.html21 Oct 2021
"
Neil Fraser, Executive Director, Natural Resources and Energy, at CBA, added: “We’re excited about the work Providence Asset Group is undertaking in the development of renewable energy technology, in particular the piloting of the LAVO HEOS hydrogen battery technology across its portfolio. This is a pioneering Australian technology which has the potential to be an important part of the future energy mix required to meet the needs of a net-zero economy.”If you read the above CBA website article - it appears as PAG is almost an arm of CBA. Remember Henry Sun, PAG founder has very deep CBA links/history. Notice the CBA director using ECT's newest favourite two words - "
net zero". ECT are certainly in the right place place/time.
So what does all the above mean for ECT?
PAG LAVO are 100% into green energy. They would never consider an investment anywhere near "coal". In Glenns Friday talk he explained how lignite is
not really coal. It's been termed coal because it presently performs a function of coal - being burnt for electricity. Buts it's really just naturally compressed peat - an accumulation of partially decayed vegetation or organic matter.
If ECT could not have got this crucial point across to PAG - they would not be involved. Simple. So ECT have
successfully differentiated themselves from "coal". This was always going to be a major obstacle in attracting $. Excellent.
So why do PAG/LAVO want ECT? They know 100% green hydrogen from wind/ solar is a long innovative slog &
expensive/low volume.
Enter net zero ECT, potentially able to liberate
inexpensive/high volume hydrogen/agricultural char from LV lignite - a source of energy greater than the North West Shelf. PAG/LAVO have the hydrogen storage solutions. Win win win. Why not potentially make a fortune with ECT while refining their 100% green hydrogen storage solution LAVO. Remember this quote from PAG/Marubeni above.... "
they also have an eye on the potential of green hydrogen exports to Japan". Hydrogen storage is on the industry's lips - ECT/PAG/LAVO partnership makes sense.
And then there is the other ECT consortium partner Energy Australia. Plenty to like about ECT going forward. All imo
tick tock...
(20min delay)