Astron plans shift back home to redomicile in Australia
The redomicile move will trigger the formation of a new listed Australian entity, Aus NewCo, to take the reins as Astron's new head company, replacing its current Hong Kong-based parent.
As part of the move, Australian shareholders will be asked to swap their CHESS depositary interests (CDIs) for shares in the new Australian entity on a two-for-one basis, while the Hong Kong investors' holdings will be relisted locally and remain unchanged.
Astron's shares have for years traded on the ASX as CDIs, limiting shareholders' voting rights and complicating their ownership. The new structure will give shareholders direct voting power and ordinary shares, bringing the company in line with its typical Australian-listed peers.
A first hearing with Hong Kong's Court of First Instance has been locked in for next week, with a crucial shareholder vote set for July 30. If approved, Astron's CDIs will cease trading on August 20, and shares in Aus NewCo will begin trading a day later.
The company expects the Australian Taxation Office to issue a class ruling confirming the redomicile qualifies for capital gains rollover relief to ensure the swap won't trigger a tax bill for investors.
Astron says it has always seen itself as an Australian miner and the restructure will cement that identity. The move paves the way for smoother shareholder engagement, stronger governance and closer alignment with its local investor base as it powers ahead with its Donald rare earths and mineral sands project in Victoria.
Notably, the change is expected to simplify Astron's compliance burdens. Currently, even basic transactions such as buying land in Australia require Foreign Investment Review Board approval – a hurdle the company says will be swept away when it is becomes a legal Australian entity.
The move is also tipped to make the company more attractive to retail and institutional investors and help attract and retain local talent.
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ABC News
8 minutes ago
- ABC News
Government working toward helping banned Meta users raise complaints
Anfas Azad spent six years and more than $80,000 in digital ads building an Instagram page for his online jewellery business, which he operated from Brisbane. In July, he was banned from all Meta-owned platforms for allegedly breaching its community standards. Over 6,000 of his followers were gone in an instant. Without a retail store or other means of interacting with potential customers, Mr Azad essentially lost his livelihood. "A jewellery business is all about trust, and to see years of work just crumble for no clear reason or fault of your own is devastating." Instagram said Mr Azad breached Meta's standards on child exploitation, abuse and nudity, but it did not say which post or actions breached the platform's rules. "It's a very serious issue and I haven't done anything as such," he said. "I still don't know what exactly happened … It's embarrassing and it's insulting." Mr Azad is one of dozens of Australian users to have contacted the ABC to say they were falsely accused of breaching Meta's standards — including its child abuse rules. Many say their businesses were up-ended and their personal lives were deeply affected, but there is no functional way of appealing the account bans because users are directed to automated processing systems. The Australian government has responded by saying it has taken steps to address the way major digital providers operating in Australia handle internal disputes. The ABC understands that the Australian government wrote to the Digital Industry Group Inc (DIGI) and major digital platform providers operating in Australia in February 2024. It requested a voluntary internal dispute resolution (IDR) code to help users raise issues and get better outcomes, including with regard to the loss of their online accounts. An IDR code is a set of guidelines — voluntarily agreed to by industry members — for handling complaints. "The Australian Government is working with the Digital Industry Group Inc (DIGI) and major digital platform providers operating in Australia on a voluntary internal dispute resolution code to help users raise issues and get better outcomes, including loss of accounts," a government spokesperson said. It is understood that Australia's digital industry association is in the process of finalising this code, and the government will monitor the outcomes of this process. In the meantime, banned users like Mr Azad feel helpless. "What can I do? There's nobody to speak to, there's nobody to contact," he said. "This could happen to absolutely anyone, and there is no protection. Meta seems to be above the law. "I don't think it should be allowed for business pages to just be taken down like that." Users across the globe have also raised this issue, with nearly 37,000 people signing a petition blaming Meta's "broken AI enforcement systems" of wrongfully banning accounts. They say the only way to speak to a human is to pay for Meta Verified, and even then, many say the support team is unhelpful. Desperate to speak to a customer representative, Mr Azad said he contacted Meta's marketing department, but they stone-walled him. "They simply said, 'There's nothing we can do, this is not our department, we are only in charge of advertising,'" he said. "And when I asked who do I contact to explain my situation, they said, 'Sorry, there is nothing we can do, we are only in advertising,' and they don't redirect you to anyone. "The irony is, even though they are human beings, they speak to you in a loop like robots." Meta acknowledged in July that a "technical problem" had caused the wrongful suspensions of some Facebook groups, but it denied its platforms were more widely affected. A spokesperson did not answer previous ABC questions about why it wrongly accused another Australian user of violating its policies. Within hours of the ABC contacting the company about the case, Meta reinstated the banned account. The ABC has contacted Meta again about Mr Azad's case. The tech giant has not commented on claims that Meta's AI is to blame for unfairly banning people. Instagram states AI is central to its "content review process," and Meta has outlined how technology and humans enforce its policies. In July, Meta said it was taking "aggressive action" on accounts breaking its rules. It reported the removal of about 635,000 Instagram and Facebook accounts for sexualised images or comments related to children under 13. Meta's wide-ranging policy on child sexual exploitation has changed three times since December 2024. Mr Azad's Instagram account was disabled on July 18, which coincides with one of the dates the company made amendments to its policy. Meta has not said what impact, if any, these changes had on the cases the ABC has raised with it.
The Advertiser
10 minutes ago
- The Advertiser
Tough Australian-designed version of luxurious Nissan Patrol cousin revealed
One of two Infiniti QX80 concept vehicles revealed in the US over the weekend was designed and engineered by the Australian automotive engineering company that also helped create the hardcore Warrior versions of the Nissan Navara ute and Patrol large SUV. Look closely at the two detail images here and you'll spot Premcar decals on the QX80 Terrain Spec show car, which was revealed in California on Friday at The Quail motorsport exhibition during Monterey Car Week. Infiniti didn't mention the Melbourne-based engineering firm in its press release, but confirmed Premcar's involvement in the project via email. CarExpert can save you thousands on a new car. Click here to get a great deal. "Infiniti worked with Premcar to create the QX80 Terrain Spec concept, which features an elevated ride height, off-road wheels with all-terrain tyres, fender flares and a side-exit exhaust," said an Infiniti USA spokesperson. "It's also equipped with a rooftop tent, limb risers, a rooftop-mounted lightbar and durable protective covers over the lower front and rear fascias." And when contacted by CarExpert, Premcar CEO Bernie Quinn said: "The Premcar team is proud to have worked with Infiniti USA to create the QX80 Terrain Spec concept." Officially, both the Terrain Spec and Track Spec concepts are designed to "explore the wide-ranging capabilities" of the third-generation (Z63-series) QX80, which won't be sold in Australia following the axing of Nissan's Infiniti luxury brand locally in 2020. However, the latest Z63 QX80 is closely related to the new Y63 Patrol that will be released Down Under in 2027, and will form the basis of another Premcar-developed Warrior off-road flagship, which should offer much of the capability previewed by the QX Terrain Spec concept also engineered by Premcar. "I think that vehicle is ideally suited to the Warrior treatment and I can't wait to get my hands on one," said Mr Quinn in a recent interview with CarExpert. In the same interview, Mr Quinn highlighted international expansion as a key area of growth for Premcar, which is now producing Patrol Warrior vehicles in and for the South African market, and the development of the Infiniti QX80 Terrain Spec is the latest example of this. "I think the biggest opportunity that has taken my time of late is the expansion of the Warrior brand and the expansion of Premcar into other markets outside Australia," he said. "I'm expecting big growth in the Australian part of our business, but also the same growth, if not bigger, on some international projects. "It's a thrill to take our Aussie-owned and Aussie-based company out into the wide world. This is where my job gets really exciting." The QX80 is currently available in five grades in North America – Pure, Luxe, Sensory, Autograph and Sport – but the Terrain Spec and Track Spec concepts could preview future variants that bring enhanced off-road and on-road performance respectively. Finished in a satin dark basalt vinyl wrap, the QX80 Terrain Spec features raised suspension, all-terrain wheels and tyres and a side-exit exhaust as per the Patrol Warrior, plus a pop-up rooftop tent and lightbar, protective body cladding including beefier fender flares, and more protective covers over the lower front and rear fascias. These additions are said to better compliment new off-road technologies fitted to the latest QX80 including Invisible Hood View, which uses advanced image processing to project an image of what's directly underneath the vehicle onto the in-car displays, and 3D Around View Monitor with Moving Object Detection, which presents a third-person, rotating view of QX80's surroundings. Meantime, the QX80 Track Spec is finished in a matte metallic black-blue vinyl wrap and packs a reworked twin-turbo 3.5-litre petrol V6 that produces 50 per cent more power and torque – now over 485kW and 1015Nm respectively. Infiniti says the former figure is the highest horsepower output in the brand's history. The upgrades come courtesy of new turbocharger and exhaust systems including upgraded compressors, a higher-capacity intercooler, new fuel-injectors, ram-air intake and a less restrictive quad-outlet exhaust, but no internal engine modifications. Above and below: Infiniti QX80 Track Spec concept The Track Spec's more powerful V6 is joined by larger Brembo brakes, larger 24-inch wheels and more aggressive bodywork including a unique front splitter, rear diffuser, rocker panels, fender vents, front air intakes and the grille from the new QX80 Sport variant. "High performance and off-road capability are emotional entry points into how today's drivers experience luxury," said Infiniti Americas vice president Tiago Castro. "QX80 Track Spec and Terrain Spec reflect two distinct client mindsets – those who crave thrilling on-road performance and those who seek confident capability far beyond the pavement. "These concepts embody Infiniti's new, fast-to-market mindset – one that allows us to explore what resonates most with clients while accelerating our push into the premium SUV space." The pair of QX80 concepts were revealed in Monterey alongside the introduction of the Infiniti QX65 Monograph concept, which the Japanese premium brand said "provides a tantalizing preview of the next new vehicle in Infiniti's product renaissance". Content originally sourced from: One of two Infiniti QX80 concept vehicles revealed in the US over the weekend was designed and engineered by the Australian automotive engineering company that also helped create the hardcore Warrior versions of the Nissan Navara ute and Patrol large SUV. Look closely at the two detail images here and you'll spot Premcar decals on the QX80 Terrain Spec show car, which was revealed in California on Friday at The Quail motorsport exhibition during Monterey Car Week. Infiniti didn't mention the Melbourne-based engineering firm in its press release, but confirmed Premcar's involvement in the project via email. CarExpert can save you thousands on a new car. Click here to get a great deal. "Infiniti worked with Premcar to create the QX80 Terrain Spec concept, which features an elevated ride height, off-road wheels with all-terrain tyres, fender flares and a side-exit exhaust," said an Infiniti USA spokesperson. "It's also equipped with a rooftop tent, limb risers, a rooftop-mounted lightbar and durable protective covers over the lower front and rear fascias." And when contacted by CarExpert, Premcar CEO Bernie Quinn said: "The Premcar team is proud to have worked with Infiniti USA to create the QX80 Terrain Spec concept." Officially, both the Terrain Spec and Track Spec concepts are designed to "explore the wide-ranging capabilities" of the third-generation (Z63-series) QX80, which won't be sold in Australia following the axing of Nissan's Infiniti luxury brand locally in 2020. However, the latest Z63 QX80 is closely related to the new Y63 Patrol that will be released Down Under in 2027, and will form the basis of another Premcar-developed Warrior off-road flagship, which should offer much of the capability previewed by the QX Terrain Spec concept also engineered by Premcar. "I think that vehicle is ideally suited to the Warrior treatment and I can't wait to get my hands on one," said Mr Quinn in a recent interview with CarExpert. In the same interview, Mr Quinn highlighted international expansion as a key area of growth for Premcar, which is now producing Patrol Warrior vehicles in and for the South African market, and the development of the Infiniti QX80 Terrain Spec is the latest example of this. "I think the biggest opportunity that has taken my time of late is the expansion of the Warrior brand and the expansion of Premcar into other markets outside Australia," he said. "I'm expecting big growth in the Australian part of our business, but also the same growth, if not bigger, on some international projects. "It's a thrill to take our Aussie-owned and Aussie-based company out into the wide world. This is where my job gets really exciting." The QX80 is currently available in five grades in North America – Pure, Luxe, Sensory, Autograph and Sport – but the Terrain Spec and Track Spec concepts could preview future variants that bring enhanced off-road and on-road performance respectively. Finished in a satin dark basalt vinyl wrap, the QX80 Terrain Spec features raised suspension, all-terrain wheels and tyres and a side-exit exhaust as per the Patrol Warrior, plus a pop-up rooftop tent and lightbar, protective body cladding including beefier fender flares, and more protective covers over the lower front and rear fascias. These additions are said to better compliment new off-road technologies fitted to the latest QX80 including Invisible Hood View, which uses advanced image processing to project an image of what's directly underneath the vehicle onto the in-car displays, and 3D Around View Monitor with Moving Object Detection, which presents a third-person, rotating view of QX80's surroundings. Meantime, the QX80 Track Spec is finished in a matte metallic black-blue vinyl wrap and packs a reworked twin-turbo 3.5-litre petrol V6 that produces 50 per cent more power and torque – now over 485kW and 1015Nm respectively. Infiniti says the former figure is the highest horsepower output in the brand's history. The upgrades come courtesy of new turbocharger and exhaust systems including upgraded compressors, a higher-capacity intercooler, new fuel-injectors, ram-air intake and a less restrictive quad-outlet exhaust, but no internal engine modifications. Above and below: Infiniti QX80 Track Spec concept The Track Spec's more powerful V6 is joined by larger Brembo brakes, larger 24-inch wheels and more aggressive bodywork including a unique front splitter, rear diffuser, rocker panels, fender vents, front air intakes and the grille from the new QX80 Sport variant. "High performance and off-road capability are emotional entry points into how today's drivers experience luxury," said Infiniti Americas vice president Tiago Castro. "QX80 Track Spec and Terrain Spec reflect two distinct client mindsets – those who crave thrilling on-road performance and those who seek confident capability far beyond the pavement. "These concepts embody Infiniti's new, fast-to-market mindset – one that allows us to explore what resonates most with clients while accelerating our push into the premium SUV space." The pair of QX80 concepts were revealed in Monterey alongside the introduction of the Infiniti QX65 Monograph concept, which the Japanese premium brand said "provides a tantalizing preview of the next new vehicle in Infiniti's product renaissance". Content originally sourced from: One of two Infiniti QX80 concept vehicles revealed in the US over the weekend was designed and engineered by the Australian automotive engineering company that also helped create the hardcore Warrior versions of the Nissan Navara ute and Patrol large SUV. Look closely at the two detail images here and you'll spot Premcar decals on the QX80 Terrain Spec show car, which was revealed in California on Friday at The Quail motorsport exhibition during Monterey Car Week. Infiniti didn't mention the Melbourne-based engineering firm in its press release, but confirmed Premcar's involvement in the project via email. CarExpert can save you thousands on a new car. Click here to get a great deal. "Infiniti worked with Premcar to create the QX80 Terrain Spec concept, which features an elevated ride height, off-road wheels with all-terrain tyres, fender flares and a side-exit exhaust," said an Infiniti USA spokesperson. "It's also equipped with a rooftop tent, limb risers, a rooftop-mounted lightbar and durable protective covers over the lower front and rear fascias." And when contacted by CarExpert, Premcar CEO Bernie Quinn said: "The Premcar team is proud to have worked with Infiniti USA to create the QX80 Terrain Spec concept." Officially, both the Terrain Spec and Track Spec concepts are designed to "explore the wide-ranging capabilities" of the third-generation (Z63-series) QX80, which won't be sold in Australia following the axing of Nissan's Infiniti luxury brand locally in 2020. However, the latest Z63 QX80 is closely related to the new Y63 Patrol that will be released Down Under in 2027, and will form the basis of another Premcar-developed Warrior off-road flagship, which should offer much of the capability previewed by the QX Terrain Spec concept also engineered by Premcar. "I think that vehicle is ideally suited to the Warrior treatment and I can't wait to get my hands on one," said Mr Quinn in a recent interview with CarExpert. In the same interview, Mr Quinn highlighted international expansion as a key area of growth for Premcar, which is now producing Patrol Warrior vehicles in and for the South African market, and the development of the Infiniti QX80 Terrain Spec is the latest example of this. "I think the biggest opportunity that has taken my time of late is the expansion of the Warrior brand and the expansion of Premcar into other markets outside Australia," he said. "I'm expecting big growth in the Australian part of our business, but also the same growth, if not bigger, on some international projects. "It's a thrill to take our Aussie-owned and Aussie-based company out into the wide world. This is where my job gets really exciting." The QX80 is currently available in five grades in North America – Pure, Luxe, Sensory, Autograph and Sport – but the Terrain Spec and Track Spec concepts could preview future variants that bring enhanced off-road and on-road performance respectively. Finished in a satin dark basalt vinyl wrap, the QX80 Terrain Spec features raised suspension, all-terrain wheels and tyres and a side-exit exhaust as per the Patrol Warrior, plus a pop-up rooftop tent and lightbar, protective body cladding including beefier fender flares, and more protective covers over the lower front and rear fascias. These additions are said to better compliment new off-road technologies fitted to the latest QX80 including Invisible Hood View, which uses advanced image processing to project an image of what's directly underneath the vehicle onto the in-car displays, and 3D Around View Monitor with Moving Object Detection, which presents a third-person, rotating view of QX80's surroundings. Meantime, the QX80 Track Spec is finished in a matte metallic black-blue vinyl wrap and packs a reworked twin-turbo 3.5-litre petrol V6 that produces 50 per cent more power and torque – now over 485kW and 1015Nm respectively. Infiniti says the former figure is the highest horsepower output in the brand's history. The upgrades come courtesy of new turbocharger and exhaust systems including upgraded compressors, a higher-capacity intercooler, new fuel-injectors, ram-air intake and a less restrictive quad-outlet exhaust, but no internal engine modifications. Above and below: Infiniti QX80 Track Spec concept The Track Spec's more powerful V6 is joined by larger Brembo brakes, larger 24-inch wheels and more aggressive bodywork including a unique front splitter, rear diffuser, rocker panels, fender vents, front air intakes and the grille from the new QX80 Sport variant. "High performance and off-road capability are emotional entry points into how today's drivers experience luxury," said Infiniti Americas vice president Tiago Castro. "QX80 Track Spec and Terrain Spec reflect two distinct client mindsets – those who crave thrilling on-road performance and those who seek confident capability far beyond the pavement. "These concepts embody Infiniti's new, fast-to-market mindset – one that allows us to explore what resonates most with clients while accelerating our push into the premium SUV space." The pair of QX80 concepts were revealed in Monterey alongside the introduction of the Infiniti QX65 Monograph concept, which the Japanese premium brand said "provides a tantalizing preview of the next new vehicle in Infiniti's product renaissance". Content originally sourced from: One of two Infiniti QX80 concept vehicles revealed in the US over the weekend was designed and engineered by the Australian automotive engineering company that also helped create the hardcore Warrior versions of the Nissan Navara ute and Patrol large SUV. Look closely at the two detail images here and you'll spot Premcar decals on the QX80 Terrain Spec show car, which was revealed in California on Friday at The Quail motorsport exhibition during Monterey Car Week. Infiniti didn't mention the Melbourne-based engineering firm in its press release, but confirmed Premcar's involvement in the project via email. CarExpert can save you thousands on a new car. Click here to get a great deal. "Infiniti worked with Premcar to create the QX80 Terrain Spec concept, which features an elevated ride height, off-road wheels with all-terrain tyres, fender flares and a side-exit exhaust," said an Infiniti USA spokesperson. "It's also equipped with a rooftop tent, limb risers, a rooftop-mounted lightbar and durable protective covers over the lower front and rear fascias." And when contacted by CarExpert, Premcar CEO Bernie Quinn said: "The Premcar team is proud to have worked with Infiniti USA to create the QX80 Terrain Spec concept." Officially, both the Terrain Spec and Track Spec concepts are designed to "explore the wide-ranging capabilities" of the third-generation (Z63-series) QX80, which won't be sold in Australia following the axing of Nissan's Infiniti luxury brand locally in 2020. However, the latest Z63 QX80 is closely related to the new Y63 Patrol that will be released Down Under in 2027, and will form the basis of another Premcar-developed Warrior off-road flagship, which should offer much of the capability previewed by the QX Terrain Spec concept also engineered by Premcar. "I think that vehicle is ideally suited to the Warrior treatment and I can't wait to get my hands on one," said Mr Quinn in a recent interview with CarExpert. In the same interview, Mr Quinn highlighted international expansion as a key area of growth for Premcar, which is now producing Patrol Warrior vehicles in and for the South African market, and the development of the Infiniti QX80 Terrain Spec is the latest example of this. "I think the biggest opportunity that has taken my time of late is the expansion of the Warrior brand and the expansion of Premcar into other markets outside Australia," he said. "I'm expecting big growth in the Australian part of our business, but also the same growth, if not bigger, on some international projects. "It's a thrill to take our Aussie-owned and Aussie-based company out into the wide world. This is where my job gets really exciting." The QX80 is currently available in five grades in North America – Pure, Luxe, Sensory, Autograph and Sport – but the Terrain Spec and Track Spec concepts could preview future variants that bring enhanced off-road and on-road performance respectively. Finished in a satin dark basalt vinyl wrap, the QX80 Terrain Spec features raised suspension, all-terrain wheels and tyres and a side-exit exhaust as per the Patrol Warrior, plus a pop-up rooftop tent and lightbar, protective body cladding including beefier fender flares, and more protective covers over the lower front and rear fascias. These additions are said to better compliment new off-road technologies fitted to the latest QX80 including Invisible Hood View, which uses advanced image processing to project an image of what's directly underneath the vehicle onto the in-car displays, and 3D Around View Monitor with Moving Object Detection, which presents a third-person, rotating view of QX80's surroundings. Meantime, the QX80 Track Spec is finished in a matte metallic black-blue vinyl wrap and packs a reworked twin-turbo 3.5-litre petrol V6 that produces 50 per cent more power and torque – now over 485kW and 1015Nm respectively. Infiniti says the former figure is the highest horsepower output in the brand's history. The upgrades come courtesy of new turbocharger and exhaust systems including upgraded compressors, a higher-capacity intercooler, new fuel-injectors, ram-air intake and a less restrictive quad-outlet exhaust, but no internal engine modifications. Above and below: Infiniti QX80 Track Spec concept The Track Spec's more powerful V6 is joined by larger Brembo brakes, larger 24-inch wheels and more aggressive bodywork including a unique front splitter, rear diffuser, rocker panels, fender vents, front air intakes and the grille from the new QX80 Sport variant. "High performance and off-road capability are emotional entry points into how today's drivers experience luxury," said Infiniti Americas vice president Tiago Castro. "QX80 Track Spec and Terrain Spec reflect two distinct client mindsets – those who crave thrilling on-road performance and those who seek confident capability far beyond the pavement. "These concepts embody Infiniti's new, fast-to-market mindset – one that allows us to explore what resonates most with clients while accelerating our push into the premium SUV space." The pair of QX80 concepts were revealed in Monterey alongside the introduction of the Infiniti QX65 Monograph concept, which the Japanese premium brand said "provides a tantalizing preview of the next new vehicle in Infiniti's product renaissance". Content originally sourced from:
Herald Sun
37 minutes ago
- Herald Sun
WA tech breakthrough could save struggling green hydrogen industry
Australia's green-hydrogen ambitions, plagued by 'prohibitive' costs and a lack of demand, might have found their saviour in an innovative local technology. As Andrew Forrest's Fortescue grapples with its fading green-hydrogen boom, Perth-based Carbon280 is promising a revolutionary approach to store and transport hydrogen safely and cheaply at ambient temperatures, potentially unlocking billions of dollars' worth of stalled projects and positioning Australia as a global leader in the green-energy transition. It has received backing from Woodside Energy and developed a groundbreaking suspended metal hydride it says could finally make green hydrogen economically viable for large-scale industrial uses, from green steel to aviation fuels, outpacing current solutions. Carbon280 has raised $16.6m, including a $11.1m seed investment led by Woodside and supported by Hive Energy, a UK renewable company, and a family office from Singapore It has also received $5.5m in research and development rebates from the federal government as it opens a pilot plant at Kwinana in Western Australia. Founder and chief executive Mark Rheinlander, a geologist by training, said the aim was to show its Hydrilyte product was not only safer and more efficient but economically viable on a global scale. 'Everyone rushed like bubbles out of the gate to get these huge megaprojects going and the technology to do them economically just wasn't there yet,' Mr Rheinlander said. But, he said that because Hydrilyte was a suspended metal hydride it put the product in a 'category of its own' and could save the burgeoning hydrogen industry billions of dollars in transport costs alone. 'We can store and transport Hydrilyte using existing transport infrastructure like tanks, trucks and ships,' Mr Rheinlander said. 'It is safe and non-toxic, apart from, so it's inherently safe. So unlike ammonia or methanol, which you have to make safe, there's a cost to that. So there's the cost of all the equipment to make it safe. 'We're storing hydrogen in IBC totes – those cubic-metre storage containers that you just see everywhere. So you compare that to a compressed hydrogen tank, actually a better example would be a tube trailer, which costs somewhere between $800,000 and $1m for a 500-bar tube trailer. 'We can put twice as much hydrogen into a half-height 40-foot container which costs a few thousand dollars.' It's the potential to unlock natural hydrogen, which Mr Rheinlander said could be produced at $US1kg, making it cost-competitive with fossil fuels. Hydrilyte technology uses a liquid suspension of magnesium powder in mineral oil to store and release hydrogen. Hydrogen is bubbled through the suspension, reacting with the magnesium to form magnesium hydride, which is a stable solid. To release the hydrogen, heat is applied, breaking down the magnesium hydride and releasing the gas. 'When all these natural hydrogen projects come to fruition, they're going to have a mixed-gas stream that contains hydrogen and often helium. If you can't separate the two, then you're either going to lose the very high-value byproduct or you're going to have purity problems which may impact on the use of the hydrogen downstream,' Mr Rheinlander said. 'We are uniquely positioned to help those hydrogen producers capture the hydrogen and then deliver it to where it needs to go. 'We're dealing with magnesium … that's the core, I guess, active component of our technology. It's globally available in rocks and seawater. We've got a cheap core product. And then because the handling is really cheap and because we're talking about pumping, trucking, shipping something which is very similar to a heavyweight crude in terms of the viscosity that you're dealing with, that enables us to reuse existing infrastructure which brings the cost down.' Green hydrogen remains elusive. Fortescue has ditched plans to spend almost $900m on a hydrogen project in Arizona and confirmed that what was once touted as a $1bn investment in a hydrogen facility in Gladstone, Queensland, would no longer go ahead. The Gladstone plant had received about $60m in federal and Queensland government support. Dr Forrest said he would return that money 'where required under the grant agreement'. While the hydrogen industry has suffered a number of setbacks in the past year, the Albanese government this year announced up to $814m in support for the Murchison green-hydrogen project in Western Australia and a $432m investment in Orica's Hunter Valley hydrogen hub. Energy Minister Chris Bowen indicated the government had not given up on hydrogen. And Mr Rheinlander is confident hydrogen will enter the mainstream. 'The first thing why these projects fail to reach FID (final investment decision) is the high cost of electrolytic hydrogen,' Mr Rheinlander said. 'I'm saying electrolytic rather than green because although they are used synonymously. Electrolysis is not the only way to produce green hydrogen. 'There are other processes that are at lower maturity levels but are coming through and which may be three or four times as efficient at converting solar energy into hydrogen. One's photothermal catalysis and there's an Australian company Spark Energy doing work with that. 'Then there's also natural hydrogen. And so natural hydrogen is looking at you know prices of around $US1 a kilogram. So if that comes through then essentially you've got really low-cost hydrogen and then that price is going to be competitive with fossil fuels just on a megajoules basis.' Originally published as Twiggy's hydrogen headaches? This obscure Aussie start-up offers a cure after raising $16.6m
