Adelaide, Australia (ots/PRNewswire) – Amp Energy (“Amp” or the “Company”) announced today that it has completed all necessary commercial agreements for the development of the Cape Hardy Advanced Fuels Precinct – one of Australia’s leading green hydrogen, green ammonia and advanced fuels projects. The agreements concluded with Iron Road Ltd. The deal includes the purchase of a 630-hectare property in Cape Hardy, as well as a final royalty structure and infrastructure sharing agreement. Amp will continue to build on the development progress made since the announcement of the strategic framework agreement with Iron Road Ltd in April 2023 to bring advanced fuel production capabilities to Cape Hardy.
The Cape Hardy Advanced Fuels Precinct will enable large-scale production with a planned electrolyzer capacity of up to 10 GW. The development will be structured in such a way that 1 GW will initially be put into operation and in further steps a total capacity of 10 GW will be achieved. The project will supply both the Australian domestic market, supporting the Australian Government’s net zero targets, as well as provide global export opportunities. To facilitate distribution, Cape Hardy will be equipped with Australia’s first dedicated export terminal for advanced fuels.
Amp has been in discussions over the past two years to develop the Cape Hardy Advanced Fuels Precinct in collaboration with Iron Road Ltd and the South Australian Government. During this time, Amp has made significant development progress. The concept, design and FEED (Pre-Front End Engineering Design) phase of the project have been studied and reviewed by two world-leading engineering firms, Arup and Technip Technologies, and Amp is aiming to complete the FEED studies for the first 1- GW electrolyzer phase in the next nine months. FEED scoping and contracting are currently underway and are expected to be completed in late 2024 or early 2025.
The desalinated water will come from Northern Water Supply’s (NWS) recently announced seawater desalination plant to be constructed in Cape Hardy to meet the project’s needs for electrolyzer feed water, cooling water, process plant water and fire water. Amp co-finances the expenses for the NWS project before the FID.
Amp also works closely with the Barngarla Determination Aboriginal Corporation RNTBC (“BDAC”). With the continued support of BDAC, Amp is confident that the Cape Hardy Advanced Fuels Precinct will have a significant economic impact on the region. Amp estimates that this The first gigawatt of electrolyzer capacity alone will include around 4,000 direct and 6,000 indirect jobs.
“We are seeing growing demand for advanced fuels, both in Australia and overseas. These include green ammonia, liquid hydrogen, methanol and sustainable aviation fuel. The Cape Hardy Advanced Fuels Precinct will enable large-scale production of these fuels, which will be critical to the energy transition and achieving net zero goals. “We are very excited about the potential impact of the project and are grateful for the partnership and continued support of Iron Road Ltd, the South Australian Government and BDAC as we move full steam ahead with the development,” said Paul Ezekiel, president and co-founder of Amp.
Trade and Investment Minister Joe Szakacs said “The state government recognizes the strategic importance of the Cape Hardy Advanced Fuels Precinct in attracting investment to the state for domestic and export opportunities as there is an increasing movement toward high quality hydrogen projects worldwide.”
Information about Amp
Amp Energy is a global energy transition development platform that delivers renewable energy, battery storage, advanced fuels and green AI data centers at scale, enabling AI-powered grid flexibility through its Amp X platform. Since its founding 15 years ago, Amp has developed and built or contracted 14 GW of assets worldwide. Amp is supported by significant investments from institutional capital partners, including global private equity firm Carlyle Group, which has invested over $440 million. The company operates globally in North America, the United Kingdom, Australia, Japan and Spain.
For more information, see amp.energy
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