They are also expected to push for execution of the agreement by June 30 and aim for FEED commencement by August 1, subject to an agreement execution.
The consortium comprises Korea Southern Power Co, Korea East-West Power, Samsung C&T and hydrogen producer Approtium.
Pilot has a fascinating project next to where the Mid West clean energy project is planned to be built. The company recently bought the Cliff Head oil well from former major partner Triangle Energy.
The company plans to repurpose the depleted oil well into a carbon storage facility capable of storing liquified carbon emissions from WA’s industrial emitters. Pilot will create a carbon storage business charging third-party emitters, adding to its arsenal with the clean energy ammonia project.
Pilot has plans to become Australia’s first blue ammonia producer and says it can overcome the major issue with developing an ammonia plant - dealing with its emissions.
Ammonia is typically created by splitting natural gas into hydrogen and then carbon dioxide.
Carbon dioxide creates a pollution dilemma for firms looking to enter the lucrative ammonia industry.
Pilot says it has the answer right on its doorstep with its own carbon storage facility, which could capture 99 per cent of the carbon dioxide emitted from the plant.
Pilot is also planning to supply blue and eventually green hydrogen to Western Australia’s energy grid, positioning itself as a major supplier as the State looks to cut emissions and help develop sources of cleaner energy. The WA government already has a liking for hydrogen having appointed the State’s first hydrogen minister in 2021.
The company is intent on targeting the sizeable South Korean market for hydrogen-ammonia and with the country’s largest energy players keen to get on board, Pilot could find itself steering a profitable play.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
