(PRNewswire)--Amp Energy announced a 3-mos extension to the Strategic Framework Agreement with Iron Road Ltd, as Lead Developer for the Cape Hardy green H₂ project. The extension is expected to provide adequate additional time to finalize and execute Transaction Documents associated with the next phase of the project.

The Cape Hardy green H₂ project comprises a two stage development: Stage I comprising 5 GW of electrolyzer capacity, delivering more than 5 MMtpy of green ammonia, with the initial phase comprising 1 GW of capacity. The project's second Stage will see doubling of this capacity to 10 GW. Over the previous nine months Amp and Iron Road have also discussed expanding the intent of the Cape Hardy green H₂ project to include an industrial manufacturing precinct centered on the green H₂ and minerals value chain. Contingent on this will be satisfactory commercial arrangements and assembling a consortium of development partners. Amp together with Iron Road have completed preliminary Master Planning of the Cape Hardy precinct incorporating electrolyzer supply, water desalination, ammonia plant and ancillaries.

During the strategic framework agreement period the Cape Hardy green H₂ project has been studied and reviewed by two leading global engineering firms as the project enters the pre–front-end engineering design (pre-FEED) stage. Amp is continuing advanced discussions with numerous Eyre Peninsula landowners, third party energy developers and transmission network specialists, to secure and transmit renewable energy supply to drive lowest cost of ammonia for domestic and export off-take. Ongoing discussion with export and domestic offtake partners, financiers and local councils on the Eyre Peninsula confirms strong interest and unanimous support for the project. Indicative economic analysis at the Pre-Feasibility stage (class 5 engineering) supports an unsubsidized levelized cost of H₂ of approximately $3/kg-H₂. This equates to a mid $600/ton levelized cost of green ammonia. This costing is consistent with the stage of the project and is subject to ongoing design and economic optimization, that will reflect the evolving commercial and market landscape.

With continued support from the Barngarla Determination Aboriginal Corporation RNTBC (BDAC), Amp is confident the Cape Hardy green H₂ project will provide significant local economic growth and employment opportunities including 1,500 construction, engineering and services jobs and over 300 full time jobs.

"We have seen a flight to quality from global strategic partners who are looking to partner with projects of scale. We believe the Cape Hardy green H₂ project is strategically well positioned as one of Australia's flagship H₂ projects," said Paul Ezekiel Amp President and founder.

Minister for Energy and Mining Tom Koutsantonis said, "The strong progress achieved by the Cape Hardy green H₂ project reflects the momentum of South Australia's emerging H₂ industry. In addition to creating thousands of jobs for South Australians, projects like this facility at Cape Hardy contribute to our government's net zero goals and strengthen the state's economy. Renewable H₂ has an important role to play as the world transitions to a decarbonized future and South Australia is ideally positioned to capitalize on this opportunity."