MYTILINEOS Energy & Metals is increasingly evolving into an integrated international energy company, offering a wide range of energy solutions at an international level. At the same time, the company remains steadfast to its commitment to sustainable development and to attaining the CO2 emissions reduction target, not only for its own activity, but also for its integrated solutions offered to its customers.
In this context, the company acquired a 15% equity stake in CLARA Energy’s Rosedale Green Hydrogen project in Australia. In particular, MYTILINEOS investment will support commencement of Stage 1 of the Rosedale project to build hydrogen generation facility that will be exclusively powered by solar production and will feed long haul trucks that cross one of the country’s busiest highways, i.e., Sydney – Melbourne Hume Highway corridor. The unit is at the most suitable location to become the main fuel supplier for long haul heavy load trucks, as well as for all vehicles traveling between Sydney and Melbourne taking that route.
It is worth noting that in a world where the transport sector is constantly developing and decorbanization is moving forward with determination, trucks seem to be lagging behind. In particular since 2020, the transport industry has been at the forefront of CO2 emissions as the transport sector produces around 7,3 billion metric tons of CO2 emissions annually. Trucks account for a significant proportion of these global transport emissions.
In the meantime, the European Commission has proposed stricter limits on CO2 emissions from heavy vehicles, so that new trucks reduce emissions by 90% by 2040. The objective is to align the transport sector with the European Union's objective of achieving zero net greenhouse gas emissions by 2050, as well as to reduce demand for imported fossil fuels. However, according to a study published by Bloomberg NEF, in order to achieve net zero emissions by 2050, medium- and heavy zero-emission vehicles should account for around 95% of sales by 2040. Based on this current outlook, however, they will represent only about 35%. The reasons for this delay are due to a number of factors, as there are numerous difficulties such as limited charging stations, autonomy, costs and the lack of encouragement to shift towards the green era itself.
The use of hydrogen is therefore an important solution in automotive applications drawing on new technologies able to bring the cleanest use closer, especially for the main polluter in the transport sector, i.e heavy goods vehicles and trucks. Hydrogen is a technology whose benefits are rapid refueling times compared to gasoline or oil, depending on the ability to cover longer distances with a single fill. At the same time, it is safer than conventional fuels, since it is 14 times lighter than air; a narrow, vertical flame is produced in the event of a point leak in the tank, which does not create a high temperature and does not spread. Hydrogen is one of the simplest chemical elements, which is included in the composition of many chemical compounds, in particular water. Its quantity is almost unlimited on our planet, as opposed to liquid fuels or some raw materials needed to manufacture batteries. For all these reasons, hydrogen tends to become the fuel of the future.
Commenting on this new MYTILINEOS activity, as well as on the collaboration with CLARA Energy, Ioannis Kalafatas, Chief Executive Director of the company's Energy sector, stressed how this is one more investment that promotes net zero activities.
"MYTILINEOS is always seeking to offer pioneering solutions to its customers. In this context, we view electrification holistically, and we invest in zero emissions transport of trucks. After all, as an integrated energy utility we offer services across the entire range of energy activities combining innovation and technology. We are now offering 'green' hydrogen services to large-scale facilities along motorways, so that decarbonization can proceed smoothly in international transport.
MYTILINEOS’ presence in many countries facilitates access to a very large pool of associates that are constantly at the forefront. Products, services, applications, lying at the heart of new technologies and providing new solutions to important issues are not just a new trend for us, but the object of activities in which we invest to offer our associates the best result. We hope that this project in Australia will not be the only one and that we will soon have new projects."
CLARA Energy's final project plan for Rosedale is to develop an 800 MW solar farm next to a 560 MW hydrogen plant near Gundagai – roughly the midpoint on the Hume Highway - able to produce enough hydrogen to fuel 800 trucks running the Hume each day. At Stage 1, solar capacity will reach 250MW and the hydrogen installation will produce enough hydrogen to be used by 200 trucks.
This decision helps to reduce emissions of pollutants even in a sector that has a long way to go towards ‘greening’. In particular, the new hydrogen plant seems to be one of the best solutions, as it addresses the issue of reduced electric charging stations for heavy goods vehicles, while offering the right energy and fuel needed, so that vehicles do not need expensive batteries to run.
It is worth noting that MYTILINEOS continues to successfully respond to the energy crisis challenges and the transition to ‘green’ energy. Through its diversified portfolio, its pioneering choices and future-forward outlook, the company once again stands ahead of energy developments.
