Mytilineos SA, a global industrial and energy company, has acquired a 15% stake in CLARA Energy’s Rosedale Green Hydrogen project in Australia.
This investment will support the construction of a hydrogen generating facility powered solely by solar energy, which will fuel long-haul trucks along the Sydney-Melbourne Hume Highway corridor. Hydrogen is a promising solution for reducing emissions in the transport sector, especially for heavy vehicles and trucks.
Trucks have been a significant contributor to global CO2 emissions in recent years, with the transport sector producing approximately 7.3 billion tonnes of CO2 emissions annually. To counter this, the European Commission has proposed tougher limits on CO2 emissions from heavy-duty vehicles, with the aim of reducing emissions by 90% by 2040. However, a recent study suggests that zero-emission vehicles will only account for around 35% of sales by 2040, well below the 95% needed to achieve net-zero emissions by 2050.
Hydrogen is a renewable resource, as it is included in the composition of many chemical compounds, especially water. It has the advantage of fast refueling times and a longer range than petrol or oil. Additionally, it is a safer fuel source as it is 14 times lighter than air and produces a narrow, upright flame if it leaks. Therefore, Mytilineos Energy & Metals’ investment in the Rosedale project represents a significant step towards a sustainable future, as hydrogen has the potential to become the fuel of the future.
The Rosedale Green Hydrogen project will comprise an 800MW solar farm alongside a 560MW hydrogen plant near Gundagai, located at the midpoint of the Hume Highway. The plant will produce enough hydrogen to power up to 800 trucks per day, with solar capacity reaching 250 MW in the initial phase, providing enough hydrogen for 200 trucks.
Ioannis Kalafatas, CEO of the company’s Energy sector, believes that this investment promotes net-zero activities and offers cutting-edge solutions to customers. Mytilineos is an integrated energy company offering services across the full range of energy businesses that combine innovation and technology. With its presence in many countries, Mytilineos hopes to facilitate access to a large pool of collaborators constantly on the front line.
The hydrogen system offers a solution to the limited electric charging stations for heavy vehicles, providing the necessary energy and fuel without the need for expensive batteries. This decision is a significant step in reducing emissions in the transport sector, which still has a long way to go to become more environmentally friendly.
In conclusion, Mytilineos Energy & Metals’ investment in the Rosedale Green Hydrogen project is a significant development in the field of sustainable energy. Hydrogen fuel has the potential to become the fuel of the future and offers a viable solution for reducing CO2 emissions in the transport sector. The Rosedale project will enable the fueling of up to 800 trucks per day, and this investment is a significant step towards achieving net-zero emissions by 2050.