Of the total global carbon emissions, 19% are as a result of transportation. In earlier issues we discussed the need for global carbon emissions (from all sources) to decrease from 36 gigatonnes per year to 25 gigatonnes if we were to have any hope of limiting global warming to 2 degrees celsius. That means a 30% decrease in global carbon emissions is needed right now.
The transportation sector is where significant carbon reduction will be necessary. That is why it is so exciting to hear the announcement this morning that Australian green hydrogen specialist Infinite Blue Energy (IBE) has entered into an agreement with NewVolt Infrastructure (NewVolt) to supply green hydrogen for road transport.
An excerpt from IBE’s media release states:
“This will be executed through a planned network of 17 electric vehicle (EV) fast-charging infrastructure and green hydrogen fuelling stations at key locations on major road transport routes.
The partnership is expected to shine a spotlight on the huge potential for Australia to rapidly transition the heavy transport sector to electric and hydrogen fuel cell trucks by harnessing Australia’s enviable renewable energy resources. The NewVolt network will span the major transport corridors between Brisbane, Sydney, Melbourne and Adelaide, delivering on-route fast-charging and Green Hydrogen refuelling stations, powered by renewable energy.
The first refuelling stations are planned for the Wodonga and Newcastle areas, leveraging existing and new infrastructure. These will host Australia’s first electric and hydrogen truck vehicles operating in and around the port area catering to a range of haulage applications.
Further sites will be developed soon after, under the agreement, with infrastructure deployed to allow freight movements from Adelaide through to Melbourne, Sydney and Brisbane with battery electric and hydrogen fuel cell vehicles. Future expansions are planned for Western Australia, spanning Perth to Port Headland and Perth to Adelaide, ensuring total coverage from East to West.
NewVolt and IBE are also looking to collaborate with several automotive manufacturers, transport end users and fleet operators to accelerate the deployment of electric and fuel cell vehicles across the network. Green hydrogen is produced using renewable energy from wind and solar, with no carbon debt. The only emissions from hydrogen powered fuel cell vehicles are heat and water vapour.”
IBE chief executive officer Stephen Gauld stated:
“Green hydrogen is the most innovative solution for decarbonising heavy transport given Australia?s vast geography, and we are delighted to be partnering with NewVolt in establishing fuelling facilities around Australia. The lack of sufficient quantities of green hydrogen has been a major barrier for businesses to transition away from diesel, and IBE is seen as the key to breaking this barrier.”
Word is that IBE will be listing soon. We will keep you posted.
Share watch – Lynas Corporation Ltd (ASX:LYC, OTC:LYSDY)
Lynas announced yesterday that Phase I work on a U.S. based Heavy Rare Earth separation facility has proceeded to the contract phase and Lynas and the U.S. Department of Defense (DoD) have signed a contract for this work.
As noted in their ASX announcement on 22 April 2020, Phase I funding provided by the DoD will allow Lynas and our U.S. partner Blue Line to complete a detailed market and strategy study plus detailed planning and design work for the construction of a Heavy Rare Earth separation facility. In line with DoD Phase I milestones, it is expected this work will be completed in the 2021 financial year.
The development of a Heavy Rare Earths separation facility is a key initiative of the company’s Lynas 2025 growth plan, as announced on 21 May 2019. Lynas’ new Heavy Rare Earth facility is an attractive and strategic proposition, providing an expanded product suite as well as the only source of separated Heavy Rare Earths outside China.
Lynas will utilise its inhouse intellectual property and proven track record in Rare Earths separation to design and operate the Heavy Rare Earths separation facility, which will process Heavy Rare Earths material sourced from the Lynas mine in Mt Weld, Western Australia.
Lynas CEO & Managing Director, Amanda Lacaze, commented:
“We are very pleased to have signed a contract with the DoD for this Phase I work. Heavy Rare Earths are essential for the high-performance magnets used in electric motors, and Lynas has the feedstock, intellectual property, and track record to deliver a Heavy Rare Earths facility in a timely and low risk manner. We look forward to working with the DoD to progress this project.”
The graph shows the company’s performance over the last year.
The VIX fear gauge up by 0.92 of a point since last Tuesday EST to 24.84.
The Dow Jones Industrial Average down since last Tuesday EST by 96.10 points or 0.36% to 26,584.77, the STOXX 600 down 11.62 points or 3.06% to 368.04 and the Shanghai Composite index down 92.93 points or 2.80% to 3,227.91.
Gold up to 1,929.60. US 10-year Treasury Bonds on 0.621 and oil on 41.64. Cryptos Bitcoin up 630.86 points since last Tuesday or 6.76% to 10,964.00.
ASX 200 down 136.00 points or 2.21% since last Tuesday to 6,020.50. The Aussie dollar on 71.32US cents.
Eco Market Spot Prices
Sources: RenewEconomy, demandmanager, Reuters, SMH, Market Watch, Forbes