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Patriot Hydrogen enters major deal with Singapore fuel tech company to develop P2H units

Emerging renewables company Patriot Hydrogen has signed a joint venture with Singaporean renewable fuel technology company CAC-H₂.

Under the deal CAC-H₂ will become the lead technology provider, supporting Patriot Hydrogen’s projects to develop, build and commission Waste to Energy Plants – Patriot to Hydrogen (P2H) units.

CAC-H₂ will be the exclusive technical and mechanical advisor and supplier for the modular, portable P2H units, which are designed to produce syngas, hydrogen, green energy, and biochar throughout Australia.

The units are based on proprietary technology provided by CAC-H₂, including components such as the in-feed system, discharge system for the produced biochar, recovery, and cleaning of produced syngas suitable for immediate input to fueled generator equipment.

Capital Raise to Fund Working Capital

Patriot and CAC-H₂ have engaged Liberty Energy Capital to work as advisors to raise money for working capital in pre-IPO funding.

Liberty is coordinating to raise funds through its advisors along with developing a strategy to list Patriot on a suitable securities exchange either in Australia, Canada, or the United States.

CAC-H₂ CEO Glen Davies said the partnership with Patriot was significant for the company as it positions itself to be a global leader in the renewable energy revolution.

“As global leaders undertake climate talks in Glasgow, there’s a growing urgency to cut down reliance on polluting fossil fuels to limit the worst effects of global warming,” he said.

“For that effort to be successful, clean energy will have to grow rapidly to make up the difference.

“Renewables are the cornerstone of decarbonisation strategies, and hydrogen and green energy will become major assets in the fight against climate change.”

CAC-H₂ director Arman Massoumi said the company was excited to be part of the energy decarbonisation initiative with Patriot.

“Green hydrogen and renewable energy from waste play a key role in realising energy transition,” he said.

Growing hydrogen assets with Sweetman Renewables

Patriot also has plans to develop further hydrogen assets with emerging renewables player Sweetman Renewables.

Sweetman also entered a joint venture with CAC-H₂ to establish Australia’s first wood-fed hydrogen production plant, and the country’s largest green bio-hydrogen production eco-hub.

The hydrogen production centre of excellence to be called Hunter Valley One will be built on a 30-acre site adjacent to Sweetman’s Millfield timber mill.

Patriot is positioning to capitalise on renewable bioenergy to service growing demand into the future with key partnerships. The company aims to use state-of-the-art technology to lead companies in their transition to a sustainable energy strategy while cutting costs by making renewable hydrogen a mobile, efficient, and accessible power source.

As major economies around the world rapidly shift to renewable energy sources as they strive to meet their zero emissions targets, Patriot forecasts a growing need for its P2H units well into the future.

Source: This article has originally appeared on Stockhead

 

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