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Further foundations laid in 2023 for 2024 and beyond

Dear Shareholders and Followers,

Season’s Greetings from the ReNu Energy team.  We wish you all the best for a safe, happy and enjoyable festive season, and thank you for your support in 2023.

Doing so offers us an opportunity to recap on our progress in 2023 which has laid the foundation for project delivery in the emerging green hydrogen sector from 2024.  Here are just some of the highlights:

  • Announcement of our Hydrogen HyWay concept with the first roadmap being launched in Tasmania proposing to link Devonport/Burnie, Launceston and Hobart.
  • Appointment of The Hon Peter Gutwein, former Premier of Tasmania as a non-executive Director to the Board of Countrywide Hydrogen
  • Progressing land selection for our green production facilities across Tasmania with binding options to purchase and lease for the selected sites at Brighton (Hobart) and Wesley Vale (Devonport) respectively being negotiated, with Western Junction (Launceston) to follow.
  • Signing of a definitive Platform Agreement with Australian superannuation fund HESTA for potential co-investment in the Group’s green hydrogen projects.
  • Signing a collaboration agreement with the Walkinshaw Group to assess the feasibility of delivering fuel cell vehicles from bankable suppliers in Australia.
  • Financial modelling for the Hydrogen Tasmania projects which will provide valuable knowledge for replicating Hydrogen HyWays on the mainland and beyond.
  • Completing project definition, technology selection and basic design of our Tasmanian projects.
  • Selection of Plug Power and Fabrum as suppliers of electrolysers and hydrogen refuelling station equipment respectively for Tasmania.
  • Collaborating with 7R Logistics on hydrogen supply with the potential for them to be a first-mover road transport operator in Tasmania to transition from diesel to zero emission hydrogen fuel cell trucks (7R is a major haulage contractor to the dairy industry).
  • Commencement of a community consultation program in Tasmania to engage with the communities where the projects are located.
  • Completion of a heavy transport study in Tasmania to profile the total addressable market and working with potential offtakers to understand the potential demand profile – with promising and increasing interest for zero emissions road transport in the state received.
  • The Tasmanian Government showing its support for a domestic focused green hydrogen industry in the state with the establishment of their finance package called the Green Hydrogen Price Reduction Scheme.
  • Signing a Joint Study Agreement with DGA Energy Solutions Australia, a division of the Mitsubishi Corporation, to collaborate on a feasibility study for a two-staged project at Portland in Victoria, with a domestic supply project the first stage and an export-scale project to follow (the relationship with DGA has potential to open the door to collaboration on other projects).
  • Several speaking engagements at national conferences which have provided an opportunity to socialise green hydrogen and Countrywide Hydrogen’s projects.
  • Engagement with the state Governments of South Australia, Victoria, and Queensland where interest lies in endorsing the Hydrogen HyWay concept.

We and our team look forward to building on these achievements in 2024 and wish all our ReNu Energy shareholders and followers a prosperous new year.

Greg Watson

Geoffrey Drucker
Executive Director