The Caason group continues to back innovative technologies that are destined to propel Australia’s green energy ambitions.
The Caason group has divested its interests in HRCM (Hydrogen Ready Carbon Mining), and backed Paladin Hydrogen, in a two-step plan to make a significant impact on the rapidly evolving global hydrogen economy.
It is anticipated that in due course, hydrogen will surpass traditional renewables such as solar and wind to become the major source of energy to combat the effects of global climate change. The legally binding Paris Climate Change Agreement, signed by Australia and 195 other countries targets the reduction of Green House Gas (GHG) emissions from 2005 by 26-28% by the year 2030 and a more ambitious target of net zero emissions by 2050. With the Australian economy deeply reliant on the coal industry, the largest emitter of GHG, the Australian Government is desperately seeking a solution to ensure the coal industry is provided an alternate use for its product.
The revolutionary advancements of the patented Paladin Hydrogen production technology by means of its C2H2 process, allows coal to be used to produce hydrogen without the need for it to be fired or burnt in anyway. This provides Australia a competitive advantage to become the world’s largest producer of green hydrogen.
The Caason Group has been influential in setting up the initial coal feedstock for the project which places Paladin in a unique position of owning the end to end supply chain, by the facilitation of the recent sale of HRCM Pty Ltd (Hydrogen Ready Carbon Mining). Group CEO and Managing Director; Mr. Craig Astill confidently backed Caason’s commitment to green technologies by saying that ”we are excited at the immense potential and opportunity this investment brings to the Australian economy and I’m happy to say that our decision to invest all interests we had in HRCM directly into Paladin was motivated by our underlying ethos of leaving behind a better world for our children and generations to come”.
The self sufficiency of the supply chain facilitated by Caason’s facilitation of the HRCM sale, allows Paladin to efficiently establish the first zero emissions hydrogen project in Bell Bay, Tasmania. As the final step in their two step plan, success in this project will allow Paladin to expand its Hydrogen plants to other coal producers in Australia as well as in other global markets.