Lion Energy Ltd. signed an MOU with Wagner Corporation to explore opportunities in the development of green hydrogen facilities and related infrastructure at Wagner Corporation’s Wellcamp Business Park and Pinkenba Wharf locations. 

The parties wish to explore opportunities for the potential collaboration in the development of green hydrogen production facilities and infrastructure at Wagner Corporation’s Wellcamp Business Park, and/or the Pinkenba Wharf in Brisbane.

 The signing of the MOU forms part of "Stage 2" of Lion's Hydrogen Strategy as announced on 7 May 2021. The Company cautions that there can be no certainty that a suitable hydrogen opportunity will be identified. Further, there can be no certainty that any conditions precedent to progressing such an opportunity (including, without limitation, compliance with ASX Listing Rules 11.1.2 and/or 11.1.3 to the extent applicable) will be satisfied.

The MOU is non-binding insofar as it does not oblige either party to proceed with any potential opportunity. The MOU is for an initial term of two years but may be terminated by either party on one month's written notice.