Australian Govnt appears to disagree with some of your reasons ECT will not receive a Hydrogen Hub grant. Please note: Further grants have also been applied for.
I've posted reasons many times before. Some include:
1 - They do not have the capacity to match funding. The Hydrogen Hub Implementation Grant can only be applied for on a joint-basis (Your application must be a joint application with at least one project partner) Meaning ECT have applied for the grant with the support of funding between the minimum of $30 million and maximum of $70 million. This is clearly stated in the application and would not have been accepted if we were not in this position.
Glenn Fozard publicly stated ECT have applied for the "Implementation Grant" and on 1st April 2022 he publicly advised "the ESG has taken ECT up to the ASX Top 100 level (for environmental reporting) because we are talking to companies at that level and the reality is, in talking to some of these large multi-billion dollar companies ... they are asking us what solutions we have for (various levels of emissions) ... You are starting to see this talk in the day-to-day deal negotiations."
2 - Their project is a long way from being ready to commence. The maximum project period is 3.5 years.
3 - They havent even completed a feasibility study. Is it possible for projects to still be in the pre-feasibility or feasibility stage? Yes
4 - They dont have any regulatory/development approvals. Eligible activities may include establishing demonstration sites or projects
Their technology isnt proven. Eligible activities may include Developing clean hydrogen production technology Running trials or pilots
The grants are for green hydrogen hubs. No grants will be coal related. What is meant by clean hydrogen? Clean hydrogen is hydrogen produced using renewable energy or using fossil fuels with substantial carbon capture and storage (CCS).
Large grants will go to large established entities, with proven technologies eg.Fortesque, Origin, WA Govt etc. Who is this for? Hydrogen industry-led consortia with investment ready clean hydrogen projects.
I believe our backer will come from one of our HILT CRC partners.
(20min delay)