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
FMG Price at posting:
$21.68 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)