- MOU signed to explore opportunities in green hydrogen and related infrastructure at Wagner Corporation’s Wellcamp Business Park and Pinkenba Wharf locations
- Wagner Corporation is an Australian property and infrastructure developer, investor, and asset manager
Lion Energy Limited (“Lion” or “Company”; ASX: LIO) is pleased to announce the execution of a Memorandum of Understanding between Wagner Corporation Pty Ltd (“Wagner Corporation”) and Lion to explore opportunities in the development of green hydrogen facilities and related infrastructure at Wagner Corporation’s Wellcamp Business Park and Pinkenba Wharf locations.
Wagner Corporation is an Australian property and infrastructure development, investment and asset management company and is the proprietor of the Toowoomba Wellcamp Airport and adjacent Wellcamp Business Park in Queensland, some 130kms west of Brisbane, Australia.
The parties wish to explore opportunities for the potential collaboration in the development of green hydrogen production facilities and infrastructure at Wagner Corporation’s Wellcamp Business Park, and/or the Pinkenba Wharf in Brisbane.
Mr Tom Soulsby, Lion’s Executive Chairman, said “we welcome the opportunity to explore green hydrogen opportunities with Wagner Corporation at the Wellcamp Business Park, and/or the Pinkenba Wharf in Brisbane. We re-emphasize the criticality of focusing our efforts at the intersection of renewable electricity and water resources, hydrogen markets and technology. We see relationships with groups with access to ports, airports, electricity grids, logistics hubs, highways, gas pipelines and new rail projects as key success factors.”
The signing of the MOU forms part of “Stage 2” of Lion’s Hydrogen Strategy as announced on 7 May 2021. The Company cautions that there can be no certainty that a suitable hydrogen opportunity will be identified. Further, there can be no certainty that any conditions precedent to progressing such an opportunity (including, without limitation, compliance with ASX Listing Rules 11.1.2 and/or 11.1.3 to the extent applicable) will be satisfied.
The MOU is non-binding insofar as it does not oblige either party to proceed with any potential opportunity. The MOU is for an initial term of two years but may be terminated by either party on one month’s written notice.