Pre-FEED Results Indicate Doubling of Value for NH3 Clean Energy’s WAH₂ Project
NH3 Clean Energy Limited (ASX:NH3) (‘NH3’ or ‘the Company’) (formerly Hexagon Energy Materials Limited ASX:HXG) is delighted to provide a summary of the Preliminary - Front End Engineering and Design (‘Pre-FEED’) for its flagship WAH₂ Project, together with updated project economics that highlight significant improvements over the Preliminary Feasibility Study (‘PFS’) results.
A detailed summary of the key aspects of the WAH₂ Project Pre-FEED results is attached to this announcement.
HIGHLIGHTS:
Efficiencies increase Phase 1 Production Capacity from 600 kTPA to 650 kTPA.
Ungeared project Phase 1 Base Case NPV8 increased from PFS estimate of A$248 M to A$493 M.
Geared company-level Phase 1 Base Case NPV8 A$603 M.
Geared NPV8 for combined Phase 1 and 2 Base Case of A$1,140 M.
Infrastructure sharing opportunities offer further capex reduction and value enhancement and are the subject of ongoing commercial discussions.
Data room open, multiple potential strategic parties undertaking due diligence.
NH3 continues to advance discussions with strategic partners, off-takers, and financiers as it progresses towards FEED-entry, a Final Investment Decision and project development.
Management will host a webinar on Tuesday, 25 February 2025 to discuss the Pre-FEED results and project progress (registration details below).
NH3’s Chairman Charles Whitfield commented:
“This is a huge step forward in the development and de-risking of the WAH₂ Project. Pre FEED has provided the level of auditable technical and financial detail that potential strategic partners and customers require to be able to make their engagement decisions. The study has identified many opportunities to improve the economics of the project, not least an 8% increase in output for essentially the same plant and inputs. The scale and projected low cost of production has really started to attract the attention of our target market and international players in the industry. We look forward to progressing the project further as we head into FEED and towards FID.”
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