The company’s core focus remains on its renewable energy projects and it is conducting geological modelling and resource assessment as it strives for final investment decision (FID) approval for the first of its three intriguing projects.
Its 100 per cent-owned Geothermal to Hydrogen project, about 100km west of the town of Windorah in south-west Queensland and comprising an area of 589 square kilometres, is currently Whitebark’s main aim. It has local infrastructure and energy end-users nearby, in addition to the opportunity to support local green hydrogen production, and it falls within the Northern Australia Industry Fund (NAIF) region that is available for funding.
The company is aiming to develop Australia’s first geothermal energy-to-hydrogen project at its Queensland ground and is pushing towards a FID in the first half of next year. Management says the project represents a significant milestone within Australia and will validate its use of the “earth’s heat energy” being used to produce hydrogen.
Whitebark believes geothermal energy deserves greater recognition from both the Australian Government and industry as a reliable source of baseload power – in line with the global perception of its dependability. Similar projects internationally are being successfully commissioned as the global push for reliable renewables motors along.
And Whitebark”s decision to reduce exposure to its hydrocarbon project and fully focus its energy on renewables may just help power its geothermal plans forward.
Is your ASX-listed company doing something interesting? Contact: mattbirney@bullsnbears.com.au
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