An Australian-first hydrogen fuel station will be built in Brisbane as part of a major deal between Lion Energy, Mitsubishi and Samsung.
The project consists of a green hydrogen production and dispensing infrastructure at Port of Brisbane, producing more than 300 tonnes of hydrogen per year.
It will be used to power heavy vehicles, along with Brisbane’s bus network.
Today, Lion signed a $3.7m financial backing contract with Mitsubishi and Samsung to build the hub.
Lion has already obtained government approvals for the project and signed a 10+10yrs lease with Port of Brisbane Pty Ltd.
The company is also planning to build similar stations in Sydney and Melbourne.
Tom Soulsby, executive chairman of Lion Energy, said: “We are delighted to partner with DGA and Samsung, who bring to the project a wealth of experience in their respective fields,” he added.
“Their interest reflects a confidence not only in the significant potential for green hydrogen in Australia but also in Lion’s capabilities.
“For Lion, the transaction results in the Project being funded and will allow us to allocate existing and future capital for new projects.”
Soulsby went on to say that as the project has developed, hydrogen offtake interest has followed.
“We are now quite confident that our initial markets for our green hydrogen production will be the displacement of grey hydrogen to green hydrogen for industrial customers, fuel cell gensets (which displace oversized and inefficient diesel gensets at construction, mining and event sites) and heavy mobility players such as bus operators and truck fleet managers.
“We expect to update the market on offtake agreements in Q3 2024.”
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