Lion Energy Limited signed an MOU with Censtar Group to explore opportunities in testing and operating Censtar equipment for hydrogen filling stations in Australia.

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.

"We welcome the opportunity to cooperate with Censtar and we will start by assisting Censtar obtain relevant regulatory approvals for their hydrogen refueling and related equipment in Australia. Lion believes that the demand for such equipment will be significant and believes that developing relationships to secure preferential supply to support Lion’s Green Hydrogen strategy makes a lot of sense," Tom Soulsby, Lion’s Executive Chairman said."