Metgasco to acquire Patriot Hydrogen

Sydney-listed gas producer Metgasco has signed a binding term sheet for a phased investment to acquire Patriot Hydrogen, a developer of modular waste to hydrogen production projects, it said on August 16.

Patriot has a framework agreement, including Australian market exclusivity undertakings, with a regional technology partner to develop hydrogen production projects in Australia.

“With the completion of the recent Cooper Basin sub-surface programme and gas production at Vali due to start in the fourth quarter of this year, the acquisition of Patriot should enable us to offset these emissions while also delivering a compelling standalone commercial opportunity,” said Metgasco managing director, Ken Aitken.

Patriot’s maiden unit for deployment to Western Australia's Kimberley Clean Energy is already manufactured and due to be commissioned on site in the fourth quarter of 2022. Patriot holds a memorandum of understanding with Kimberley for up to a further 75 units, Metgasco said.