Speech by the Chairman of BPH Energy Limited (ASX: BPH) to the shareholders
Advent is a strong supporter of plans for Net Zero by 2050 and sees the company playing a direct role in achieving this goal, particularly for
ACCC’s latest gas report found that a lack of gas supply
The NSW Government’s ‘Statement on the Future of Gas’ issued in 2021 recognizes that as part of the energy transition, gas from a mix of sources will play a role in supporting the access to affordable energy and business growth within NSW and notes that the east coast gas market could face a supply shortage as early as 2023.
The PEP11 gas project off Newcastle, if successful, could play a key role in bridging this supply gap.
Spikes in gas prices and shortages in the eastern Australian gas market occur when demand is high during the Australian winter. This period coincides with summer demand in the northern hemisphere which is also increasing due to the increased electricity needs associated with summer heat waves. The reverse applies during the Nordic winter.
Global economies are now facing an energy supply crisis as current efforts are underway to shift to a low carbon future with rapidly rising energy costs and supply shortages affecting households and economies around the world.
International energy prices increasingly fix the domestic prices of the east coast, increasing the volatility of domestic gas prices. This has pushed some manufacturers exposed to spot prices to the brink of collapse.
The importance of these factors was illustrated when the governments of New South Wales and Australia signed a 2020 MoU to jointly fund
Preventing power outages is becoming increasingly difficult as weather-dependent renewables replace coal-fired generation. This forces AEMO to intervene more often (250 times in 2019-20 against 20 three years earlier) and commands other sources, generally gas-fired, to come online. The 2020 report classified security of electricity supply as a “critical” status. (“Urgent power fix because the grid tilts AFR 050121”).
Carbon Capture, Use and Storage (CCUS) technology is one of the priority technologies in
achieve climate targets by 2050. The PEP11 project is the closest potential carbon storage area to the main Australian carbon sources which are in the order of 30% of Australia’s total CO2 production. Location is a key factor in carbon removal with greater synergies when industrial point sources are both close to each other and a viable storage site.
Advent has submitted a request to the National Offshore Petroleum Titles Administrator (NOPTA) to allow drilling of Seablue-1 approximately 16 miles at the Newcastle SSE off NSW. The PEP11 joint venture proposes to drill Seablue in 2022 subject to NOPTA and other regulatory approvals, and funding. The current license expiry date is
Advent also announced the appointment of Professor
Considerable progress has been made in the technical and business development of the Brain Anesthesia Response Monitor (BARM (TM)) and Cortical, including pilot sales, staffing, regulatory approvals, industry recognition, clinical trials, potential strategic partnerships, and engagement with key global thought leaders as outlined below.
Cortical 2020/2021 milestones included Mr.
At the end of 2020, BARM (TM) obtained regulatory approval from the KFDA, allowing Cortical to launch pilot sales of BARM (TM) in
Cortical has also taken an important step in its journey to market in the
In 2020, Cortical announced a licensing and cooperation agreement with
In regards to
The company provides early stage financing, project management and marketing strategies for direct collaboration, spin-off or licensing.
BPH funds business strategies for proof of concept, research and product development, while the institutional partner provides the infrastructure and basic scientific expertise.
BPH is currently a partner of several academic institutions, including
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