Iron Road Ltd (AU:IRD) has released an update.
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Iron Road Ltd has partnered with Amp Energy to develop a large-scale Advanced Fuels project at Cape Hardy Industrial Port Precinct in South Australia, with Iron Road set to receive development payments totaling $22.5 million and royalties on hydrogen production. The deal includes a $2.5 million deposit from Amp for the option to purchase land for $15.5 million, as part of their commitment to renewable energy and green fuel production, which is crucial for the global energy transition and achieving net zero targets. Iron Road’s strategy aligns with their Central Eyre Iron Project, enhancing South Australia’s hydrogen and green iron production capabilities.
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