PRL appointment to help decarbonise the global economy.
Province Resources (ASX:PRL) is strengthening its board, with the appointment of the highly experienced Kylah Morrison.
Ms Morrison has over 14 years’ experience and in that time has developed a passion for diversity, inclusion, indigenous affairs, corporate governance and sustainability – all attributes that will help PRL in its mission to decarbonise the global economy.
Natural Resources company, PRL is focused on completing the acquisition of the HyEnergy ZERO CARBON HYDROGEN TM Project. in Western Australia's Gascoyne Region.
PRL is proposing to produce approximately 60,000 tonnes of green “Zero Carbon Hydrogen” or up to approximately 300,000 tonnes of green ammonia using renewable energy.
This is important in that green hydrogen is necessary to climate neutrality and features in all eight of the European Commission’s net zero emissions scenarios for 2050.
Ms Morrison will assist PRL’s management with local community engagement including building relationships with indigenous organisations in the area.
Living and working for nine years in Karratha, Ms Morrison has a deep understanding of risks and challenges experienced by corporates, government, local businesses and indigenous organisations operating in remote and regional Australia, particularly in North Western Australia.
While Ms Morrison has worked in private companies in the oil and gas industry, indigenous organisations, not-for-profits, and start-ups, from 2016 to 2019 she championed regional economic development as the President, then CEO of the Karratha & Districts Chamber of Commerce & Industry, and Founding Chairperson of the Pilbara Universities Centre.
This experience will be invaluable to PRL moving forward.
Managing Director David Frances commented, “I’m pleased to welcome Kylah to the board of Province, her demonstrated ability in leadership and local community engagement and passion to contribute to the Company’s mission of helping to decarbonise the global economy will be a strong addition to the existing skills and passion of the board.”
In other Board changes, Thomas Langley will step down as Non-Executive Director on 30 April 2021 to become PRL’s Chief Operating Officer.
Growing need for hydrogen solutions
PRL is strengthening its Board just as analysts and industry experts have estimated the green hydrogen market could generate revenues of least $US12 trillion by 2050.
WA is looking to be a key player in the growth of this market. Its strategy is to support the renewable hydrogen industry with a 10% mix of renewable hydrogen in the Dampier Bunbury Natural gas Pipeline (DBNGP) by 2030.
The state is putting $10M into the Western Australian Renewable Hydrogen Strategy, with the Federal Government also in support of hydrogen initiatives, pledging $300M to the Australian Government Advancing Hydrogen Fund.
Further to this, the Australian Renewable Energy Agency (ARENA) will put in $70M.
One of the biggest advocates for hydrogen, Andrew ‘Twiggy’ Forrest has just put applications in for Fortescue Metals Group to take up land right next to PRL via Fortescue’s subsidiary FMG Resources Pty Ltd.
Forrest has said, “Green hydrogen gives Australia an opportunity to slash our emissions — and if we get this right, the impact could be nothing short of nation-building.”
The move to hydrogen is a global effort: Saudi Arabia is building a $5BN plant to make green fuel for export, which will be powered by solar and wind. It is expected to be one of the world’s biggest green hydrogen makers.
In South Korea, five major conglomerates including Hyundai Group, have made a US$38.2 billion hydrogen fuel investment into the country’s future as it looks to establish an H2 economy by 2030.
How is PRL tracking
PRL has a busy year ahead of it.
In the next 12-18 months, the company plans to execute a heritage agreement with the Yinggarda Aboriginal Corporation (YAC) to govern the conduct of site resource monitoring investigations.
PRL will also undertake numerous key stakeholder discussions, including, Carnarvon Shire and Community, WA government, Federal government and Indigenous representatives (YAC).
Ms Morrison’s appointment will come in handy in the execution of all of these goals.
Also on the cards is the assembly of a highly capable project team including local and international experts, the start of feasibility studies for both renewable power generation and green hydrogen production and the execution of a binding MoU with an IPP (Independent Power Provider) to develop the renewable power required for the H2 plant.
The company also intends to initiate discussions with potential offtakers and AGAIG – Australian Gas and Infrastructure Group (owners of the DBNGP).
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