Sponsored

QEM Limited (ASX:QEM) progresses on Green Hydrogen opportunity at flagship Julia Creek Project

Summary

  • QEM’s green hydrogen strategy has been under focus in the recent quarter.
  • QEM has appointed E2C for the assessment and estimation of capital and operating costs for green hydrogen production.
  • Recently QEM announced that DNV Australia would be undertaking a preliminary assessment of the power generation using solar and wind farms as part of QEM’s assessment program for green hydrogen production.

Vanadium and shale oil explorer QEM Limited (ASX:QEM) had recently shared an upbeat market update releasing the activities report for the quarterly period ending on 31 March 2021. During the quarter, the company moved in the right direction at the flagship Julia Creek project in Queensland, specially on the Hydrogen front.

QEM’s Hydrogen Strategy

Mr Gavin Loyden, the Managing Director of QEM, said that the company has been proactively progressing on its green hydrogen strategy and enjoys favorable market conditions, supportive policy environment and optimal location.

Copyright © 2021 Kalkine Media Pty Ltd

The hydrogen produced is considered green if renewable power is utilised for the electrolysis of water, producing no carbon dioxide and could be used for energy, transportation or any other industrial processes.

Must Read: QEM’s Julia Creek Project, one of the World’s largest single oil shale and vanadium deposits, on the road to development

The green hydrogen opportunity is crucial to meet the global decarbonisation targets. QEM’s green hydrogen strategy bodes well with the recent increased interests in the renewable power by private and public players. In fact, the Queensland state government had created a separate ministry for Hydrogen in November 2020 and anticipates hydrogen to play significant part to the local economy and considers it as the next big opportunity for the province.

The recent survey conducted in February 2021 with Queensland Resources Council member firm’s CEOs confirmed that most of the companies seek new technologies like hydrogen to minimise their carbon emissions and further grow their business in a sustainable manner.

Important Read: Strong Market Response to QEM Limited’s (ASX:QEM) Green Hydrogen Strategy

The Julia Creek project is located within the recently designated Eastern Resource Development Corridor, offering substantial opportunities to supply energy to regional projects and also cater to the energy needs of Julia Creek project. Additionally, in the longer term, the green hydrogen could be used to fuel the hydrogen-powered vehicles for transport and mining purposes.

Source: © Audioundwerbung | Megapixl.com

Green Hydrogen Economic Assessment -  On 15 March 2021, QEM had commenced studies for green hydrogen opportunities at the Julia Creek project in Queensland.

QEM appointed E2C Advisory Pty Ltd ("E2C") for the assessment and estimation of capital and operating costs for green hydrogen production. In the past, E2C was involved in the assessment of a processing technology for oil extraction using a hydrocarbon solution.

E2C holds extensive exposure to electrolysers for commercial scale hydrogen production. QEM plans to commence discussions with the Queensland state government on the approval process for accessing water resources for potential development of the operations, once the financial studies are successfully completed by E2C.

Visit our Exclusive Executive Corner - Expert talks with Mr. Gavin Loyden, MD, QEM Ltd.

Green Hydrogen Power Generation – Subsequent to March quarter, QEM announced that DNV Australia would be undertaking a preliminary assessment of the power generation using solar and wind farms as part of QEM’s assessment program for green hydrogen production.

The initial assessment by DNV Australia would include the resource mapping and modelling of the solar farms and the preliminary designing of the solar photovoltaic system.

DNV Australia will also develop a preliminary wind turbine layout and will review the resource mapping and modelling for wind farms. The assessment is anticipated to be completed by the end of Q2, following which the contractor will conduct definitive wind resource measurements and monitor the solar resource in Q3.

Oil Extraction Optimisation testing at Julia Creek

Currently, HRL is conducting multiple tests to optimise the production and extraction of oil and gas during the extraction process. The results of the program will be used for the designing and specifications of the bench scale pilot.

Read Here: Strong Market Response to QEM Limited’s (ASX:QEM) Green Hydrogen Strategy

QEM traded at $0.22 a share at 2:02 PM AEST on 20 April 2021 with a market capitalisation of $21.5 million.

All financial information pertains to Australian Dollar unless stated otherwise.


Disclaimer
The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (Kalkine Media, we or us), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary. Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have used reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.
   
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK