Aussie CleanTech company Parkway Corporate (ASX: PWN) and Australian clean energy development firm Energy Estate have entered into a strategic partnership to advance sustainability initiatives in regional Queensland.
The partnership seeks to leverage the strengths of both organisations to address several vital opportunities. Key focus areas include renewable energy, green chemicals, and waste disposal, with a multi-billion-dollar potential. Parkway’s Master Plan, unveiled in June 2023, will be pivotal in driving sustainable industry-wide solutions, particularly addressing waste brine and salt challenges in Central Queensland.
Parkway’s Group Managing Director & CEO, Bahay Ozcakmak, commented, “Given the scale of these opportunities, each of waste disposal, renewable energy and green chemicals, represent multi-billion dollar opportunities, it is important we continue to partner with industry and other key stakeholders, to support the timely realisation of these significant opportunities. In this regard, we have been impressed with the progress Energy Estate have been making in bringing industry, investors, government and other stakeholders together, and look forward to working closely with Energy Estate, as we advance our own project interests, particularly in relation to our Master Plan.”
Parkway develops and implements industrial-scale water treatment solutions. The collaboration between Parkway and Energy Estate is set to achieve a few goals. For one, the duo is investigating ways for Energy Estate to contribute to providing reliable renewable energy sources in Queensland. Secondly, the partnership will explore avenues for commercialising industrial green chemicals. Finally, central to their mission, the partnership seeks to provide innovative, technology-based solutions for the substantial waste brine and salt challenges facing Central Queensland as part of the Company’s Master Plan.
On June 22, 2023, Parkway unveiled its Master Plan to address the long-term waste brine and salt challenges in Central Queensland. This plan is set to enhance local supply chains, particularly for critical minerals.
Queensland is a prominent energy producer, with energy exports steadily increasing, notably driven by the coal seam gas (CSG) to liquefied natural gas (LNG) industry. Investments exceeding $80 billion have resulted in a significant LNG export industry in Central Queensland.
Despite Queensland’s abundant renewable energy resources, its CO2 intensity of electricity generation remains high and ranks among the highest in the OECD. The region produces billions of litres of waste brine annually, containing around 6 million tonnes of waste salts, due to the CSG industry’s operations.
In addition to the QBS Master Plan, Parkway and Energy Estate have identified various other opportunities within Queensland. Energy Estate boasts a substantial pipeline of clean energy projects, encompassing wind, solar, green hydrogen, green ammonia, and biorefining developments.
Energy Estate leads several clean energy projects in Queensland, including the North Queensland Clean Energy Hub (HyNQ), a project aimed at integrating renewable energy with liquid hydrogen and global-scale green ammonia production. Additionally, Energy Estate has formed a joint venture with Central Queensland Power (CQP).
Energy Estate’s Co-Founder & CPO, Simon Currie, added, “We look forward to working with Parkway to explore how adoption of Parkway’s proprietary technologies for processing waste brines can help unlock the hydrogen economy in Queensland and other markets in Australia and globally.”
Parkway’s innovative Master Plan and Energy Estate’s clean energy projects collectively represent a major step in creating a more sustainable and environmentally responsible future for Queensland.
Alinda is a Business Reporter for The Sentiment
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