There is a billion dollar industry that could help stimulate the Australian economy and yes it begins with an A, and no it’s not AI.
And unlike AI, there’s little dispute over its contribution to the environment.
It will be a major contributor to cleaning up the shipping industry by helping to decarbonise their fuel. And it is being sought in Asia to help decarbonise power generation.
Ammonia.
Low emissions ammonia that is.
Ammonia is the foundation of the fertiliser industry. It also forms a key ingredient in explosives for our mining sector. But low emissions ammonia, or clean ammonia, could be a key contributor to the Australian economy.
Australia has the resources, export infrastructure, trading relationships and maritime activity to become a significant clean-ammonia producer.
“It is not often that Australia has such an opportunity to lead on the global stage. To not take that opportunity would be such a waste, in terms of diversifying Australia’s economy, strengthening it and reducing emissions,” says Stephen Hall, CEO of NH3 Clean Energy.
The WAH2 Project in Maitland, near Karratha in Western Australia received an independent report valuing it’s potential contribution to the Australian economy in the billions.
The ACIL Allen report determined the NH3 Clean Energy project alone had the capacity to:
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Boost Australia’s Gross Domestic Product by A$7.3 billion over the life of the project, at an average of A$253 million per year;
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Increase Australia’s real income by A$6.2 billion over the life of the project, at an average of over A$212 million per year;
Hall says, “Ammonia is the thing you might not have heard of, but something you cannot afford to ignore.”
With the economic upside indicated by the ACIL Allen, it would appear to be an industry that the Australian government cannot afford to ignore either.
About us:
NH3 Clean Energy Limited (ASX: NH3) is an Australian company focused on Future Energy project development and Future Energy materials exploration and project development. NH3 is developing a business to deliver decarbonized hydrogen (low-emission ammonia) into export and domestic markets at scale, via its WAH2 Project. The Company plans to use renewable energy to the greatest extent practicable. NH3 100% owns the McIntosh Nickel-Copper-PGE project and the Halls Creek Gold and Base Metals project in Western Australia. The Company has an earn-in arrangement on its McIntosh graphite property. To learn more please visit: www.nh3ce.com
Contact details:
Jane Morgan Management | Investor and Media Relations, Wilamina Russo, [email protected]
NH3 Clean Energy | CEO Stephen Hall, [email protected]
