Oracle Power PLC (AIM:ORCP) highlighted its progress in the third quarter and announced that chief executive Naheed Memon will hold a Q&A session with shareholders.
Oracle has two gold projects in Western Australia and is also active in the power industry in Pakistan as the company has sought to create scale and diversification during the past year. It recently signed a co-operation agreement with PowerChina International Group Ltd to jointly develop a green hydrogen production facility in Pakistan.
READ: Oracle Power signs green hydrogen joint venture deal with PowerChina Group
“I cannot overestimate the impact that green hydrogen could have in terms of the energy transition to support a carbon neutral future, and to be a frontrunner in Pakistan is both an enormous opportunity, and huge honour,” said Memon.
"Green hydrogen, meaning hydrogen generated from renewable sources, is being developed as a competitive fuel source in multiple sectors, including steel and fertiliser production, cars, power generation, long-range shipping and aviation,” she said.
“It is planned to be deployed in multiple countries including India and many states in the Middle East, and we believe that Pakistan has the right combination of land, labour and abundant renewable resources (solar and wind) to support a large-scale green hydrogen generation facility, pivoting the country towards a green hydrogen economy and to becoming one of the main green hydrogen suppliers in the future.
"Looking now to the company's activities in Western Australia, our Jundee East and Northern Zone projects continue to yield some highly positive results, reinforcing our belief that Oracle has not one, but two assets with 'company-maker' potential in this world-class mining jurisdiction,” she added.
Details of the Q&A session will be made available on the company's website by 22 October.