Patriot Hydrogen announced the execution of a binding term sheet with Metgasco for a phased investment to acquire the Patriot Hydrogen business, which will accelerate the delivery of its waste-to-H₂ units.

Metgasco has agreed to a staged acquisition of Patriot Hydrogen, a renewable H₂ and energy developer with near-term production, with certain technical and commercial milestones.

Patriot has a framework agreement with a regional technology partner to develop H₂ production projects in Australia, with proven market demand.

First commercial plant commissioning, for Kimberley Clean Energy (KCE), is expected in Q4 CY22, as part of a comprehensive MoU to deliver up to 75 units to KCE in support of remote power needs in Northern Australia.

The acquisition forms part of Metgasco’s diversification strategy, delivering a sustainable, commercially attractive and carbon net zero opportunity while potentially offsetting emissions associated with the company’s core natural gas production assets.