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Tlou Energy reveals plans to develop hydrogen strategy
StockMarketWire.com
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Tlou Energy, which delivers power in Botswana and southern Africa, is developing a hydrogen strategy to complement its gas-to-power project.
In a statement, the company said the hydrogen economy is 'rapidly developing and could open multiple additional business opportunities such as solid carbon products, oxygen, ammonia for energy storage, fuel cell electric vehicles (FCEV), agricultural and medical applications'.
Tlou said it is well-positioned to produce hydrogen from different methods because the company has large and proven resources to develop these products. It has methane for carbon and hydrogen, readily available water for hydrogen and oxygen, and virtually unlimited CBM / solar power to drive the process.
It comes as the company is in ongoing discussions with a number of parties in relation to a $10 million project finance package for the initial phase of the Lesedi gas-to-power project which includes construction of transmission lines and sub-stations.
The primary focus for the company is to progress the Lesedi gas-to-power project. Development of hydrogen is planned to run in tandem and with time could develop into a lucrative opportunity for the company given the availability of Tlou's gas and solar power.
At 9:32am: (LON:TLOU) Tlou Energy Limited share price was 0p at 4.36p
Story provided by StockMarketWire.com
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