Natural hydrogen, if viable, would be cheaper than that produced from renewables and have none of the emissions when gas is used to produce it.
Natural hydrogen could play an immediate and vital role in Australia’s energy grid, Gold Hydrogen chairman Alexander Downer said on the eve of the company’s listing.
To proceed to drilling, Gold Hydrogen has raised $20 million during its public offer, issuing 40 million shares at 50 cents each, but it had to overcome some unfamiliarity from investors. Shares begin trading on Friday. Blue hydrogen is the use of gas to power the splitting of water, which is typically much cheaper than using renewables. The fossil fuel industry argues that this type of hydrogen production offers the fastest route to commercialisation, though environmentalists argue it adds to Australian emissions.Blue hydrogen had been in favour with the former Morrison government, but the election of Labor in May has led to a series of new green hydrogen project announcements.
“It is very speculative number, but we are talking about around 1.3 billion kilograms of natural hydrogen,”
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