Global industrial and energy firm buy stake in NSW hydrogen haulage highway project
The investment will see Mytilineos Energy & Metals join forces with Australian Clara Energy, a renewable energy development company centred on decarbonising hard-to-abate industries.
Greek based Mytilineos Energy & Metals has acquired a 15% equity stake in Clara Energy’s Rosedale Green Hydrogen project located near Gundagai, NSW.
Clara Energy's project plan for Rosedale includes an 800 MW solar farm next to a 560 MW hydrogen plant near Gundagai – roughly the midpoint on the Hume Highway - able to produce enough hydrogen to fuel 800 trucks running the Hume each day. At Stage 1, solar capacity will reach 250MW and the hydrogen installation will produce enough hydrogen to be used by 200 trucks.
This investment by Mytilineos will support commencement of Stage 1 of the Rosedale project.
In a statement announcing the purchase of the stake, Mytilineos explains:
"Hydrogen is a technology whose benefits are rapid refueling times compared to gasoline or oil, depending on the ability to cover longer distances with a single fill. At the same time, it is safer than conventional fuels, since it is 14 times lighter than air; a narrow, vertical flame is produced in the event of a point leak in the tank, which does not create a high temperature and does not spread."
To read more about Clara Energy, go to their website here.
