Elixir’s hydrogen strategy rests on the view that the Gobi region of Mongolia is one the of best locations in the world for exporting green hydrogen, given its renewable resources and immediate proximity to likely hydrogen markets.

The company recently signed an MOU with the Mongolia Green Finance Corporation (MGFC), under which the parties will cooperate on multiple fronts, including working with International Financial Institutions (IFIs) over the project financing of Elixir’s
proposed green hydrogen pilot production plant. A number of IFIs are present in Ulaanbaatar
and Elixir has developed relationships with them.

In addition, both parties will work together to: 

•  Develop larger scale forestry/nature related offsets in Mongolia. These are increasingly
  sought by international oil and gas companies to offset emissions in the production stage of operations.
• Identify Mongolian carbon offset opportunities at the household level. Elixir’s aim is to
  reduce its current exploration/appraisal stage scope 1 and 2 carbon emissions by such means.

"All the work we are doing on our Gobi H2 project serves to reinforce our original starting concept: the country is a potential tier one location for large scale hydrogen exports," said Elixir’s Managing Director, Neil Young. "Elixir’s first mover advantages are being progressively locked in and it is fantastic to see the rapidly growing interest in this future facing industry from multiple local and international stakeholders."