Share Watch –  Endua 

Shares in Ampol Ltd fell on the same day that news was released that the company had taken a stake in CSIRO-backed hydrogen energy generation and storage startup Endua.

Is it a sign of the times? Ampol has committed to help develop and commercialise Endua’s hydrogen energy technology, initially focusing on providing a clean energy alternative to the off-grid diesel generators market.

Currently, off-grid industries and remote communities generally source power from expensive and environmentally damaging diesel generators. According to the CSIRO, Australia’s off-grid diesel generators use $1.5 billion worth of diesel and create 200,000 tonnes of carbon emissions annually.

Endua hopes its power generation and storage technology will allow those reliant on diesel generators to use hydrogen energy instead. Its device uses electrolysis technology to produce hydrogen and storage in a modular power bank, capable of driving power loads up to 150kW from a single pack.

Sort of like a diesel generator, but without the emissions footprint.

Endua CEO Paul Sernia is among the founders of electric vehicle fast charger producer, Tritium. Tritium is currently eyeing a $2.2 billion Nasdaq listing.

Sales will initially focus on the lucrative $1.5 billion per year off-grid diesel generator market.

Financial indicators

The VIX fear gauge up by 5 points since 13 June by to 20.70 and further out of the safety zone.

The Dow Jones Industrial Average down 1,189.64 points or 3.45% since 13 June to 33,290.08, the STOXX 600 down 32.41 points or 8.12% to 425.05 and the Shanghai Composite index down 65.70 points or 1.83% to 3,525.10.

Gold down on 1,763.90. US 10-year Treasury Bonds down to 1.438 and oil up to 71.50. Cryptos Bitcoin down by 1,798 points or 3.97% to 34,929.

ASX 200 up 52.70 points or 0.69% since 13 June to 7,368.90. The Aussie dollar down to 74.77 US cents.

Eco Market Spot Prices

LGC $32.75

STC $38.85

ESC $32.25

VEEC $64.20

ACCU $19.00

EU ETS €51.34

Sources: RenewEconomy, demandmanager,  Reuters, SMH, Market Watch, Stockhead