Amp completes commercial agreements for Cape Hardy Advanced Fuels Precinct

ADELAIDE, Australia, May 21, 2024 /PRNewswire/ — Amp Energy (“Amp” or the “Company”) today announced that it has completed all required commercial agreements for the development of the Cape Hardy Advanced Fuels Precinct – one of the world’s leading green hydrogen, green ammonia and advanced fuel projects Australia. The agreements, which were executed with Iron Road Ltd, include the purchase of a 630 hectare parcel in Cape Hardy, as well as a definitive royalty structure and a common user infrastructure agreement. Amp will continue to build on the development progress made since the announcement of the strategic framework agreement with Iron Road Ltd April 2023 to bring advanced fuel production capacity to Cape Hardy.

The Cape Hardy Advanced Fuels Precinct will deliver production at scale with up to 10 GW of planned electrolyser capacity. Development will be structured to initially bring 1 GW online, with incremental phases to reach a total capacity of 10 GW. The project will focus on both the domestic Australian market, in support of the Australian Government’s net zero targets, as well as global export opportunities. To facilitate distribution, Cape Hardy will be equipped with Australia first purpose-built export terminal for advanced fuels.

Amp has been in discussions to develop the Cape Hardy Advanced Fuels precinct, in partnership with Iron Road Ltd and the Government of South Australia, The past two years. During that time, Amp has made significant development progress. The concept, design and pre-Front End Engineering Design (FEED) phase of the project has been studied and assessed by two leading global engineering firms, Arup and Technip Technologies, while Amp is focused on completing pre-FEED studies for the first electrolyser phase of 1 GW. over the next 9 months. FEED scoping and contracting is currently underway ahead of the FEED contract being awarded in late 2024 or early 2025.

Desalinated water will come from Northern Water Supply’s (NWS) recently announced seawater desalination plant, which will be located in Cape Hardy to meet the project’s demand for electrolyzer feedwater, cooling water, process water and firewater. Amp co-finances pre-FID expenditures for the NWS project.

In addition, Amp works closely with the Barngarla Determination Aboriginal Corporation RNTBC (“BDAC”). With the continued support of the BDAC, Amp is confident that the Cape Hardy Advanced Fuels Precinct will have a meaningful economic impact on the region. Amp currently estimates that this will create approximately 4,000 direct and 6,000 indirect jobs for the first gigawatt of electrolysis capacity alone.

“We see growing demand for advanced fuels in both the EU and the US Australia and abroad. This includes green ammonia, liquid hydrogen, methanol and sustainable aviation fuel. The Cape Hardy Advanced Fuels Precinct will enable large-scale production of these fuels that will be critical to the energy transition and achieving net zero targets. We couldn’t be more excited about the potential impact of the project, and we 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 EzekielAmp President and Co-Founder.

Minister of Trade and Investment, Joe Szakacs said “The state government recognizes the strategic importance of the Cape Hardy Advanced Fuels Precinct to attract investment into the state for domestic and export opportunities as there is an increasing flight to quality for hydrogen projects globally.”

About amp

Amp Energy is a global development platform for the energy transition, delivering renewables, battery storage, advanced fuels and green AI data centers at scale, along with proprietary AI-powered network 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 backed by major investments from institutional capital partners, including global private equity firm Carlyle Group, which has invested more than $440 million. The company operates worldwide North Americathe UK, Australia, JapanAnd Spain.

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