ECT,HYDROGEN, page-220

Yep it is clear hydrogen will play a major role in future energy supply, and the goal towards net zero carbon by 2050. Hydrogen production to acheive net zero will need to be done with ONLY GREEN hydrogen. Blue or grey hydrogen (such as ECT's proposal) has been scientifically proven to emit more carbon in it's generation, then by simply burning and creating energy from the blue/green fossil fuels used. Hence, blue/green hydrogen would unlikely play a role in acheiving net zero carbon by 2050.

On the green hydrogen energy front, there are behemouth companies with huge balance sheets already developing these projects. For these projects you need large access to cheap green electricity and large swathes of land for the production of the hydrogen. You need access to infrastructure and ports for export the hydrogen. To give you an idea of the scale, some of these businesses have secured land in Australia larger than some small countries!! You need economies of scale to be able to reduce costs to the point where your operation is profitable, a small operation will never survive. CAPEX for these projects is in the $billions, yes $billions. These companies are moving very very fast. ECT is already on the back foot in a major major way on this front.

I'm just not quite sure where ECT fits in the hydrogen space given the above, not to mention its not so great track record of even bringing technology to demonstration. They have not successed with COLDRY/MATMOR - that is 20+ yrs in development without yet acheiving a commercial demonstration plant, what confidence does that give an investor given all the above headwinds it would need to face??? This is the question one should be asking themselves....