Australia’s Iron Corridor is one of the busiest shipping routes on earth—and one of the hardest to decarbonise. We sit down with NH3 Clean Energy chair Charles Whitfield to map a practical path forward: large-scale clean ammonia produced in the Pilbara, bunkered at Dampier, and burned by a new generation of ammonia-ready ships. Instead of chasing hype, we dig into the concrete pieces now falling into place: a 650,000 tpa phase one (scaling to 1.3 million), a 2029 first production target, and a landmark MOU with Mitsui O.S.K. Lines and Oceania Marine Energy to build a reliable bunkering ecosystem.
We unpack the demand flywheel driven by Japanese and Korean energy policies and the looming economics of the IMO’s carbon pricing from 2028. Charles explains why an end-to-end value chain matters—production at Maitland, near-port storage for fast turnarounds, refuelling tankers operated by Oceania, and MOL’s leadership on the Pilbara–Asia route—to make switching easy for iron ore exporters. A scarce 7.5-hectare site at the Port of Dampier emerges as a quiet game-changer, enabling storage buffers, efficient loading, and scalable capacity for both export cargoes and marine fuel, reducing bottlenecks and downtime.
We also talk investor milestones on the road to a 2026 final investment decision: approvals, detailed engineering, construction and operations agreements, and financing pathways. Whether via traditional project finance and an EPC partner or a build–own–operate collaboration, the team’s strategy is to de-risk delivery while aligning with Western Australia’s push to become a global renewable energy powerhouse. If you’re tracking clean shipping, hydrogen and ammonia markets, or ASX-listed energy transition plays, this conversation lays out the how, not just the why.
Enjoyed the chat? Follow the show, share this episode with a colleague in shipping or resources, and leave a short review to help more people find thoughtful conversations on clean energy and decarbonised trade.
Episode Transcript
Welcome back to ASX Briefs.
And today we have an excitingconversation lined up with NH3
Clean Energy Limited, a companyat the forefront of Australia's
clean energy transition.
And we're joined by CharlesWhitfield, the chairman of NH3
Clean Energy, a future-focusedcompany developing large-scale
clean ammonia production forexport and the decarbonisation
(00:26):
of global shipping.
Charles, it's great to have youwith me today and welcome to
the ASX Briefs podcast.
Charles Whitfield (00:31):
Thanks very much, Andrew.
Andrew Musgrave (00:32):
Now, Charles, for investors that may be
unfamiliar with NH3 CleanEnergy, can you just provide a
brief overview of the company?
Charles Whitfield (00:39):
Of course.
So NH3 is an ASX-listedcompany, and we are developing
the WAH2 Clean Ammonia Projectnear the port of Dampier in the
Pilbara.
We're focused on the growth ofdemand of clean energy, and that
demand is coming from two mainsources.
One is Japanese and Koreangovernments have mandated
(01:00):
initiatives to replace fossilfuels in their power stations
with clean ammonia.
And secondly, shippingcompanies are ordering vessels
which will run on clean ammoniainstead of heavy fuel oil or
diesel again to reduceemissions.
So the project's due to produce650,000 tons of clean ammonia
in phase one, including uhincreasing to 1.3 million tons
(01:24):
in phase two.
Um, and we're targeting firstproduction in 2029.
Andrew Musgrave (01:29):
Okay, now looking at strategic
partnerships, you've just signeda major MOU with global
shipping leader Mitsui OSK Linesand Oceana Marine Energy.
So can you explain what thislandmark agreement aims to
achieve for clean ammoniabunkering in the Pilbara?
Charles Whitfield (01:44):
Sure.
So as I mentioned, thedecarbonisation of shipping is a
key focus for the company.
The International MaritimeOrganization has outlined a
framework for a carbon tax forship operators, which starts in
2028, which is accelerating theadoption of clean fuels by
shipping companies.
The Iron Corridor, which is theroute taking iron ore from the
(02:06):
Pilbara to Asia, is one of thebig busiest shipping routes by
tonnage in the world and isresponsible for over 2 million
tons of CO2 emissions per year.
Mitsui OSK are the globalleader in the transition to
clean fuels.
And so they're the idealpartner in helping to build out
an ammonia-powered fleet.
Andrew Musgrave (02:27):
Okay.
And in your announcement, youmentioned linking your ammonia
production with refuelingservices, port logistics, and
now a shipping fleet.
So how critical is buildingthis complete end-to-end value
chain to making the cleanshipping industry a reality for
Australia's iron ore exporters?
Charles Whitfield (02:45):
So our view has always been that we want to
make it as easy as possible foriron exporters to switch to
clean fuel.
So our strategy has been toassemble all the building blocks
necessary to create a one-stopshop solution for them.
So if you look at the series ofannouncements that NH3 has
(03:05):
made, first of all, we are theproducer of the clean fuel.
Then Oceania Marine are theoperators of the refueling
tanker.
And then in the jointdevelopment agreement, that
brings in Pilbara ports as thelast part of the puzzle to
provide a complete solution forammonia refueling in the
Pilbara.
(03:26):
Then, with this latestannouncement, adding in MOL,
they are one of the preeminentshipping lines on that route.
And so that gives the completepackage offering mining
companies a clean fuel-poweredtransport solution.
Andrew Musgrave (03:40):
Now the MOU targets an initial demand of
300,000 tons per annum, roughlyhalf of your planned phase one
production.
So how does securing thisfoundational offtake help
de-risk the WAH2 project as youprogress towards a final
investment decision in late2026?
Charles Whitfield (03:57):
As you say, the 300,000 tons is obviously a
great foundation as itunderwrites phase one of the
project.
But more importantly, I thinkthe main takeaway is that it
shows the scale of demand wheneach customer is trying to
secure a block of supply at thatkind of scale.
Andrew Musgrave (04:14):
Okay, now looking at infrastructure,
you've secured a commitmentagreement with Pilbara ports for
a key parcel of land, which youdescribed as extremely scarce.
So, first of all, why issecuring this specific 7.5
hectare site at the Port ofDampier so critical for the
project's future operations?
And how does establishing thisnear port storage and loading
(04:36):
infrastructure provide theoperational flexibility and
expansion capability needed toscale the business for both
export and marine refuelingmarkets?
Charles Whitfield (04:45):
So the production facility is in the
strategic industrial area atMaitland, and that's where all
the ammonia is produced.
What the land at the port givesus is additional flexibility
around our logistics forloading.
Essentially, it gives usstorage capacity that we'll
(05:06):
build there, which is abuffering uh to uh allow us to
more quickly and efficientlyload ships that gives us both
operational and expansionflexibility.
Andrew Musgrave (05:17):
Okay, now the Premier of Western Australia,
Roger Cook, hosted the MOUsigning and has spoken about his
government's priority todiversify the state's economy.
So, what role do you see theWAH2 project playing in
establishing WA as a globalrenewable energy powerhouse and
a leader in decarbonized trade?
Charles Whitfield (05:37):
Yes, Premier Cook has been extremely
supportive of the company, andthe project aligns very well
with his stated strategies.
I guess our view is thatyou've seen many renewable-based
ammonia projects fall awaybecause the technology, frankly,
is in its infancy and the andthe economics just don't work.
Nevertheless, we need solutionsto help cut emissions now. I
(06:02):
think the Premier has been verypragmatic in identifying energy
transition industries where WAhas a strategic advantage and
can make an immediate impact onreducing emissions.
Andrew Musgrave (06:13):
Okay, now, lastly, to wrap things up, with
the project's engineering anddesign phase now underway and
these key commercial agreementsfalling into place, what are the
most important milestones forinvestors to watch out for over
the next 12 months as you'readvanced towards a 2026 target
for the FID?
Charles Whitfield (06:30):
As you say, we're already undertaking feed,
which is the final stage priorto final investment decision.
So the work streams are reallyfirstly approvals, secondly,
detailed engineering, includingfinalizing agreements around
construction, commissioning, andoperation, and thirdly,
commercial agreements andfinancing.
(06:51):
For those last two items,there's sort of two routes that
we can go.
One is the conventional routeof financing, project financing,
and then retaining an EPCpartner.
But we're also looking into abuild, own operate
collaboration, which would helpto accelerate the pathway to
production and de-risk theproject.
Andrew Musgrave (07:13):
Okay, Charles.
Well, thanks for your timetoday.
It's been great to chat to getan update on where the company
is at, and we look forward tofurther updates from NH3 Clean
Energy in the upcoming months.
Charles Whitfield (07:22):
Fantastic.
Thanks so much, Andrew.
Andrew Musgrave (07:24):
That concludes this episode of ASX Brief.
Don't forget to subscribe, andwe look forward to catching you
on our next episode.
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