Lion and Samsung partner for Brisbane hydrogen hub

Lion Energy and Samsung will jointly develop a green hydrogen hub at Port of Brisbane that will initially produce and dispense more than 420kg of green hydrogen per day.

Lion and Samsung subsidiary DGA Energy Solutions Australia have signed an agreement that will see Samsung C&T pay A$3.7 million to Lion for pre-construction costs.

In return, DGA and Samsung C&T will each become entitled to 25 percent interest in project developer Lion H2 Energy Pty Ltd which is geared towards heavy mobility fleets and fuel cell gensets.

Subsequently DGA and Samsung will procure debt financing of $6.3 million, satisfying the capital requirement to complete the project.

Lion’s Executive Chairman Tom Soulsby said: “As the project has matured into this joint development agreement amongst quality global players, 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.”

Samsung C&T is an international corporation with four business groups and is a major player globally in Engineering & Construction.

Lion has already entered procurement agreements with key equipment providers which has enabled the company to secure the supply of two electrolysers and a refuelling package.

Two hydrogen tube trailers have been secured and are currently being leased to third parties at commercial rates until required for the project.

Further reading:
Lion Energy wins approval for Brisbane green hydrogen project

Picture: Lion Energy