BPH Energy (ASX: BPH) has reported solid progress by investee companies Advent Energy, Cortical Dynamics, and Clean Hydrogen Technologies for the three months to end December.
Advent subsidiary Asset Energy holds 85% equity in the PEP11 joint venture off the New South Wales coast with Bounty Oil and Gas (ASX: BUY).
Early last year, offshore authority NOPTA (National Offshore Petroleum Titles Administrator) refused the joint venture’s 2020 application to progress activities in the licence area, with Bounty subsquently lodging an order in 2021 to overturn the decision.
In February, Asset Energy applied to the Federal Court for an originating application to review NOPTA’s decision and a two-day hearing previously set for September was adjourned to next month.
BARM 2.0 Advances
Cortical Dynamics – in which BPH holds a 16.4 per cent direct interest – is nearing technical completion of its next-generation brain anaesthesia response monitor (BARM) 2.0 brain and pain monitoring system.
The technology combines electroencephalogram data with AI to assist clinicians in assessing patient consciousness and pain levels, giving hospitals a smarter, more scalable way to achieve better patient outcomes during and after surgery.
BARM 2.0 clinical trials will take place in the US and the Netherlands once technical completion has been achieved, with submissions to global regulatory authorities to follow that.
Cortical is also continuing the development of AI-driven deep learning software app Cordyan to capture, store, and analyse BARM 2.0 data, providing enhanced, real-time insights into patient brain activity during anaesthesia.
Future Commercial Rollout
During the period, Cortical was invited to present BARM 2.0 at Renaissance Venture Capital’s UnDemo Day in Michigan, introducing the technology to prospective investors and strategic partners to support a future commercial rollout in the US market.
The company also met with Henry Ford Innovations to discuss developments in anaesthesia and gather feedback on BARM 2.0.
Michigan is one of the fastest-growing innovation hubs in the US, presenting an ideal environment for Cortical to strengthen its partnerships and expand its presence in North America.
The company’s growing recognition within Australian and international MedTech sectors continues to support its strategic objective to commercialise BARM 2.0 and its AI-based predictive healthcare technologies.
US and Indian Hydrogen Plans
Clean Hydrogen Technologies (CHT) – in which BPH holds a 16.1 per cent direct interest – continued with its design of facilities in the US and India for the Stage 1 production of 820 tonnes of turquoise hydrogen and 2,462 tonnes of carbon nanotubes carbon composite for sale to industrial markets.
CHT will focus its Indian plans on the industrial users in the state of Maharashtra, where it intends to establish its local production site, and has identified several site options in Louisiana for its US operation.
As part of finalising its production requirements, CHT is close to completing a review of its engineering designs to bring them into line with regulatory specifications in each country.
The company is looking to source a minimum $3.56 million in funding to build the facilities.
