GreenHy2 Ltd
(ASX:H2G) Share Price and News
Key Statistics
Introduction to GreenHy2 (ASX:H2G)
GreenHy2 (ASX:H2G) is a provider of Solid-State Hydrogen Storage (SSHS) batteries. The technology leverages metal hydrides for hydrogen storage, storing the hydrogen molecules directly in a ferrous titanium lattice.
It is the only provider of this kind of technology resolving the issue of energy storage in a way that is environmentally-friendly (by not relying on fossil-fuel-backed diesel generators) and safe.
The eight key benefits are: Environmental sustainability, exceptional density, ability to operate at an extremely low pressure, an extended lifespan and reliability, the ability to store power indefinitely, reduced safety concerns, versatility and uniqueness.
GreenHy2’s History
The company was incepted in 2011 by Charlie Bontempo. It was formerly known as Tempo Australia, only changing its name in 2022. The technology owned by the company was developed in Germany with GKN. H2G and GKN have the exclusive right to integrate, assembly and supply the equipment in Australia and New Zealand, as well as the right to act on a non-exclusive basis throughout Southeast Asia on a project-by-project basis subject to GKN’s approval.
Future Outlook of GreenHy2
GreenHy2 is at an early stage but has a handful of key partnerships with industry players. In particular, it has run a 12-month trial with Essential Energy to use its hydrogen-powered batteries to power a heritage accommodation cottage on the NSW North Coast.
Is GreenHy2 Ltd (ASX:H2G) a Good Stock to Buy?
Investing in GreenHy2 presents a futuristic opportunity, albeit with risks typical of an early-stage company in an early-stage sector like Hydrogen. Overall, there’s too much risk for most investors (particularly retail investors) to consider it.
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Frequently Asked Questions
What is GreenHy2’s main business focus?GreenHy2 specializes in developing Solid State Hydrogen Storage Batteries integrated with 100% renewable energy generation.
How does GreenHy2’s Solid State Hydrogen Storage technology differ from traditional methods?GreenHy2’s technology stores hydrogen using metal hydrides. It offers higher safety, efficiency, and density compared to traditional compressed or liquid hydrogen storage methods or even other energy storage methods like diesel generators.
What significant achievements has GreenHy2 recently accomplished?GreenHy2 successfully completed a Stand-Alone Power Supply trial using its technology with Essential Energy to power Cuttlers’ Cottage in NSW.
What are the future plans for GreenHy2 in terms of market expansion?GreenHy2 is targeting first sales by H1 of 2024 and actively expanding its business across various sectors, including utilities, telecoms, and remote communities.
Is GreenHy2 currently a profitable company?No, GreenHy2 is not yet profitable. It is generating small revenues through engineering services and pilot projects.