Q4 FY23 Investor and Analyst Call Transcript, page-9

Hi @TonyIndo

Listened to the whole 45 mins!

Their planned facility will store enough hydrogen in 3 x 1500m deep caverns, that has enough volume to power all California for a week … described as easily the world’s largest battery … phoenix can expand to 200 x 1500m deep caverns … the caverns are cheaply created over a 2 year period by circulating water flow out from a central borehole to dissolve the salt formation … the naysayers said storage couldn’t be done.

There are already 1600km of pipelines for transporting hydrogen … the naysayers said transport couldn’t be done.

Phoenix with provide the cavern storage on lease and the infrastructure and marketplace to connect producers and users … just as new factories sprang up around natural gas decades ago, Phoenix are confident new factories will spring up around new hydrogen hubs.

I presume FFI will be producers leasing storage space from Phoenix and able to scale up as Phoenix storage capacity increases?

Is this how you read it?

Cheers
Dex