Hydrogen is becoming increasingly touted as the fuel of the future, particularly for heavy, long-range transportation such as trucks and ships.
Poseidon Marine H2 is keen to leverage on this move, which is part of accelerating global efforts to decarbonise, and is now carrying out an international search for a chief executive officer and technology partner to oversee its ambitions to become a significant player in Australia’s hydrogen-fuelled maritime industry.
The company intends to use green hydrogen solutions to serve a variety of maritime applications and place it on a path towards a carbon-zero model.
Decarbonising the maritime sector by adopting green hydrogen-powered ships and associated technologies could make a significant dent in emissions given that the sector is responsible for 2.5% of all global emissions.
“Executives and technology providers will get a rare opportunity to redefine logistic standards and decarbonise an industry worth over US168.56 billion through the development and commercialisation of state-of-the-art technology,” a Poseidon H2 spokesman said.
“We have the potential to empower companies around the world to utilise renewable hydrogen energy to help them transition to an emissions-free supply chain and forge a climate-resilient future.”
Poseidon H2 is owned and funded by Liberty Energy Capital, which also owns Aviation H2 – its counterpart looking to become Australia’s first hydrogen-fuelled aviation company.
Liberty Energy Capital and its Nominees also have investments in emerging green businesses such as H2X Global, Sweetman Renewables Limited, Port Anthony Renewables Limited, Titan Hydrogen Limited, Infinite Blue Energy and Verdant Earth Technologies.
Big valuations
The potential to decarbonise the marine sector aside, the broader hydrogen market itself is forecasted to be worth up to US$201bn by 2025.
This potential has been seized upon by the Australian Government, which has committed to investing $1.2bn under its National Hydrogen Strategy with $500m in funding already allocated.
More recently, Australia has reached a multi-million dollar deal to export clean hydrogen to Japan.
Poseidon H2 is keen to gain early access to this potentially lucrative sector by building an Australian-first business model that is scalable across international markets. The company says hydrogen could be used across commercial shipping and boating, as well as defence force industries.
Source: This article has originally appeared on Stockhead.
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