Lion signs MoU with Censtar for hydrogen refuelling
Lion Energy Limited, an ASX-listed oil and gas company with conventional PSC’s in Indonesia, has signed a Memorandum of Understanding (MoU) with the Censtar Group to explore opportunities in testing and operating Censtar equipment for hydrogen filling stations in Australia.
Established in 1997, Censtar specializes in providing complete equipment solutions and management systems to gas stations. Censtar has held the top position in its industry in the Chinese market for the last 24 consecutive years, with an average market share of approximately 40%. The group is looking to expand its sale of dispensers, including hydrogen dispensers and ancillary hydrogen equipment in Australia.
The MOU is non-binding insofar as it does not oblige either party to proceed with any potential opportunity. The MOU is for an initial term of one year.
“We welcome the opportunity to cooperate with Censtar and we will start by assisting Censtar obtain relevant regulatory approvals for their hydrogen refuelling and related equipment in Australia. Lion believes that the demand for such equipment will be significant and believes that developing relationships to secure preferential supply to support Lion’s Green Hydrogen strategy makes a lot of sense,” said Tom Soulsby, Lion’s executive chairman.
The signing of the MOU forms part of “Stage 2” of Lion’s Hydrogen Strategy which was announced on May 7, 2021. The company cautioned that there can be no certainty that a suitable hydrogen opportunity will be identified. Further, there can be no certainty that any conditions precedent to progressing such an opportunity will be satisfied.
