Australian industrial company CST Composites has announced a joint venture (JV) with US-based hydrogen storage tank manufacturer Optimum Composite Technologies in a move that positions the company as a leading player in the global green hydrogen supply chain.
According to CST’s announcement, the joint venture will see the company expand its core capabilities to support the growth of Optimum’s business in designing and producing composite pressure vessels (CPVs), which are used to store hydrogen and renewable natural gas (RNG) and have many other applications.
CST now operates two production sites in Australia, with plans to open Australia’s first hydrogen vessel manufacturing plant to meet rising and expanding demand from the defence (VTOL vehicles), space (rockets), transportation, and energy sectors.
This manufacturing facility will assist in the implementation of Australia’s National Hydrogen Strategy, which emphasizes the need of developing the country’s supply chain infrastructure, including hydrogen storage tanks.
Managing director, Clive Watts, said the joint venture would complement both companies’ manufacturing abilities, providing CST Composites with access to Optimum’s technical expertise and Intellectual Property (IP) in carbon fibre pressure vessels.
He said that by utilizing Optimum’s US facilities, customer base, and supply chain, CST Composites would also gain increased access to US markets for its high-quality, filament-wound composite tubing.
“High-pressure gas storage vessels is one of the biggest and fastest-growing markets globally for advanced composites, particularly for filament-wound carbon fibre composites,” Mr Watts added.
The Federal Government is investing $1.4 billion to position Australia as a major hydrogen player by 2030. CST Composites recently received financing from the Manufacturing Modernisation Fund’s Round 2, and plans to apply for additional funding going forward.
“We will be applying for the grants and financial support available to advance our projects, which focus on the innovative design and development of hydrogen and CPV products,” Mr Watts said.
“We are planning to make a significant investment to grow our new joint venture.”
CST Composites is a world leader in filament winding technology, with 90% of its goods going to Europe, the United States, China, and Asia.
All of the company’s profiles and tubes are currently fabricated in Sydney’s high-tech facilities.
