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Hexagon Energy Materials Ltd. ( (AU:NH3) ) has shared an update.
NH3 Clean Energy Ltd. is focused on the development of clean energy projects, specifically in the hydrogen sector. The company is currently working on the WAH 2 Project, which aims to enhance its position in the hydrogen market. The latest update reveals that NH3 Clean Energy has not yet secured a long-term gas supply agreement or the necessary funding for the project, which poses significant risks to its advancement. The company needs between A$405M and A$567M to proceed with the project, and failure to secure these resources may result in the project’s downgrade, deferral, or cancellation.
More about Hexagon Energy Materials Ltd.
YTD Price Performance: 100%
Average Trading Volume: 553,487
Technical Sentiment Signal: Buy
Current Market Cap: A$17.5M
See more insights into NH3 stock on TipRanks’ Stock Analysis page.