Verdant Earth Technologies is pursuing a strategic green hydrogen alliance with the Port of Darwin, Australia’s “northern gateway” for Australasian trade.
Verdant Earth Technologies has signed a term sheet with Darwin Port Operations in order to establish itself as one of Australia’s largest green hydrogen producers and exporters.
The two will look into various options for transforming Darwin Port into a major green hydrogen hub.
Verdant intends to construct a “world-class” hydrogen production facility that will use renewable energy sources such as wind and solar to generate green power and green hydrogen for the domestic market as well as export to Asia.
Green hydrogen is produced using renewable energy, which results in no CO2 emissions when compared to other types of hydrogen production.
However, over 99 percent of hydrogen produced today is produced using fossil fuels, and governments all over the world are working hard to change this as they face increasing pressure to meet their net zero emissions targets.
The Australian government recently identified Darwin as the ideal location for a future clean hydrogen hub, which will receive over $275 million in government funding to make it a reality.
Darwin is one of four regional centres that the Morrison government wants to share funding for as part of a $539.2 million Federal Budget initiative to build new clean hydrogen, carbon capture, use, and storage (CCS/CCUS) projects.
The proposed Australia-ASEAN Power Link (AAPL) is also being built in Darwin, the Northern Territory’s capital city. The AAPL will capture and store solar energy for continuous transmission to Darwin and Singapore via a high voltage direct current (HVDC) transmission system.