BPH Energy (ASX: BPH) expanding wings in energy and medtech space

Highlights

• ASX-listed BPH Energy focuses on energy and commercialising Australian biomedical technologies.
• BPH has marked its presence in hydrogen production with its investment in Clean Hydrogen technologies.
• Drilling the Seablue-1 gas exploration well in PEP11 is offers NSW as well as Australia the much-needed solution to scale up domestic gas supply.
• BPH Energy has received strong support with a capital raise of AU$1.9 million.

ASX-listed BPH Energy Limited (ASX: BPH) is a diversified company with investments in the biotechnology, clean energy and resources space.

It is one of the well-known names in the industry that has centred its focus on commercialising Australian biomedical technologies designed from collaborative research by top-notch medical organisations, educational institutes, and hospitals across the country. BPH has an investment in Cortical Dynamics, a neurotechnology company.

BPH Energy invests in energy solutions with a focus on reduction of carbon emissions. The company has forayed into hydrogen production.

BPH venturing into hydrogen production
Last year in August, BPH and its investee Advent Energy Ltd announced the acquisition of a 10% interest in hydrogen technology company Clean Hydrogen Technologies Corporation for US$1 million under a Loan Conversion Agreement.

Data source: company update

Furthermore, Clean Hydrogen is developing its “Commercial System” to cater to the growing demand for Clean Hydrogen products in commercial space. The Commercial System is an end-to-end system capable of generating hydrogen from hydrocarbons at commercial scale, using thermocatalytic reactor process and catalysts.

BPH’s interest in offshore permit PEP 11

Petroleum Exploration Licence 11 (PEP11) is a gas-rich basin situated 25 km off Newcastle in New South Wales (NSW). BPH Energy holds a 35.8% interest in Advent Energy Ltd, and Advent has an interest of 85% in PEP11.

According to the parties involved in the project, drilling the Seablue-1 gas exploration well in PEP11 will offer NSW as well as Australia the much-needed solution to scale up domestic gas supply. It can also accelerate Australia’s move towards Net Zero goals by becoming a site for Carbon Capture and Storage (CCS).

Image source: company update

 BPH's investment in Cortical Dynamics

Data source: company update

Cortical recently hit a major milestone in the development process by winning FDA 510(k) approval in the United States for the Brain Anaesthesia Response Monitor or BARM™ system version 1.

The neurotechnology company Cortical is working on an enhanced version of BARM™ with its partner AIT (the Austrian Institute of Technology) based in Vienna which will include upgrades to the software, hardware, and firmware.

Successful capital raising of AU$1.9 million
In one of the recent announcements, BPH Energy had revealed that it has received funding of AU$1.9 million.

Data source: company update

The funds raised via the placement will be used to develop its hydrocarbon projects - AU$0.2 million for Clean Hydrogen Technology, AU$1.5 million for exploration and development of oil and gas investments, AU$0.1 million for Cortical Dynamics and AU$0.1 million for working capital.

 ASX-listed shares of BPH traded at AU$0.019 (market cap over AU$18 million) at the time of writing on 29 September 2023.