Fortescue invests in German green hydrogen project, PolyNovo achieves record quarter and Ampol partners with Hyundai

Fortescue Metals Group (ASX: FMG) has announced its green division, Fortescue Future Industries (FFI), has entered into a global strategic collaboration with energy infrastructure developer Tree Energy Solutions (TES) to execute a “world-leading” hydrogen project in Germany.

As per the agreement, FFI’s subsidiary Netherlands Fortescue Future Industries will invest €30 million (A$46 million) to become a shareholder in TES.

It will also invest €100 million (A$153 million) into the construction of the TES terminal and acquire a 30% stake as a major shareholder in TES’ subsidiary Deutsche Grüngas und Energieversorgung GmbH, which aims to build the hub in Wilhelmshaven, Germany.

FMG executive chair and founder Andrew Forrest said the collaboration will offer the United Kingdom and Europe more green solutions to replace fossil fuels.

“This investment reinforces this commitment and is a significant step forward in FFI’s journey to becoming one of the world’s largest green energy producers,” he said.

Both parties aim to supply 300,000 tonnes of green hydrogen in its initial stages, with the final locations not yet agreed upon.

FFI and Tree Energy Solutions hope to make the first delivery of green hydrogen into TES’ Wilhelmshaven terminal in 2026.

The companies believe the partnership will contribute towards achieving the united goal of reducing global emissions and offering a lower-cost alternative to fossil fuels.

PolyNovo

Biotech giant PolyNovo’s (ASX: PNV) share price is surging on the back of news it achieved record quarterly sales in the first quarter of FY23.

After expanding its US sales team, the company tallied more than $5 million in monthly sales for the first time, reaching $5.4 million in the month of September.

The company also posted unaudited total sales of $12.5 million for the September quarter, up more than 73% on the same time last year.

PolyNovo chief executive officer Swami Raote said the record figures were a result of the company’s ongoing efforts and aided by its NovoSorb BTM product.

“I am pleased with how our teams are now beginning to translate our burn heritage and supremacy into trauma and other acute surgical soft tissue reconstruction opportunities,” he said.

“PolyNovo has always been focused, responsible and capital efficient in delivering results, and I look forward to accelerating our global impact.”

Gold Road Resources

Gold Road Resources (ASX: GOR) has announced it is maintaining its 19.9% stake in gold-focused company De Grey Mining (ASX: DEG).

The Perth-based company subscribed to De Grey’s $130 million placement, receiving 25,987,000 shares in the company at $1 each to continue its near 20% interest.

De Grey also outlined its plans to launch a $20 million share purchase plan on top of the $130 million placement.

The share purchase plan allows eligible shareholders to subscribe for up to $30,000 worth of shares at the same price as the placement.

De Grey said the capital raised will be used to complete the definitive feasibility study at the Mallina gold project, and to undertake resource definition, discovery and extension drilling.

Gold Road increased its stake in the company back in August, from 14.45% to 19.99%, making its intentions clear that no takeover bid is set to take place although the company has the right to do so at any time.

Sayona Mining

Emerging lithium producer Sayona Mining (ASX: SYA) has launched a pre-feasibility study (PFS) for the Moblan lithium project in Quebec, Canada.

In an effort to maximise economic benefits for local stakeholders, Sayona has called on InnovExplo to conduct the PFS.

The study aims to evaluate the potential completion and restart of the lithium carbonate plant at the North American Lithium (NAL) operation.

Work will commence in the coming days and is expected to be completed by May 2023.

Sayona managing director Brett Lynch said the study will help accelerate the development of a new northern site for the company.

“Since acquiring the Moblan project in October 2021, Sayona has worked to rapidly develop this project with an extensive drilling program, targeting a major expansion of our lithium resource in an area already hosting world‐scale mines,” he said.

“This study should further enhance our confidence in the quality of the Moblan project and its potential for development as a new northern base of production, adding to our NAL operation and the Abitibi hub in the south.”

A definitive feasibility study is expected to follow, with its completion target set for September 2023.Ownership of the Moblan lithium project is made up of Sayona’s 60% stake, to go along with Canadian mineral exploration company SOQUEM’s 40% interest.

Ampol

Ampol (ASX: ALD) has announced it has partnered with Hyundai to offer electric vehicle (EV) drivers greater access to the AmpCharge network, as well as other energy offers to support the transition to zero-emissions vehicles in Australia.

Ampol plans to have 120 AmpCharge EV charge stations installed at various sites across Australia by the end of 2023.

The partnership also aims to boost the transition of fleet vehicles to battery-powered EVs.

As per the agreement, it will explore the development of fuel cell EVs powered by hydrogen.

Ampol chief executive director and managing director Matthew Halliday said developing hydrogen vehicle solutions is a critical step towards decarbonising Australia’s transport sector.

“Given Hyundai’s market-leading work in advancing fuel cell electric vehicle technologies, we are excited to partner together to further explore opportunities for hydrogen across Australia’s economy,” he said.

The partnership with Hyundai is expected to achieve Ampol’s goal of being globally carbon neutral by 2045.