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- ASX-listed gas player Strike Energy (STX) wins a $2 million grant as part of the WA Government’s Clean Energy Future Fund initiative
- Strike is using the money to drill Future State-1 which is a planned test of the geothermal potential of the Mid-West Geothermal Power project in the Perth Basin
- The Clean Energy Future Fund is designed to support innovative clean energy projects in WA
- STX shares are trading 3.17 per cent higher at 32.5 cents
ASX-listed gas player Strike Energy (STX) has won a $2 million grant from the WA Government.
The grant was awarded as part of the second round of the Clean Energy Future Fund which is aimed at supporting innovative clean energy projects in Western Australia.
Strike Energy will use the grant money to prepare and execute drilling of the Future State-1 well to test the geothermal potential of the Mid-West Geothermal Power project which lies within the Perth Basin.
Managing Director and CEO Stuart Nicholls said the Mid-West Geothermal Power project is an “excellent opportunity” for the company to drive renewable energy into its strategy.
“The Mid-West Geothermal Power Project is unique in that it may provide 24/7 dispatchable power which can drive lower carbon outcomes across Strike’s existing portfolio of projects and potentially more broadly across the State,” Mr Nicholls said.
“We thank the WA Government for this show of support and look forward to delivering further milestones at this unique and exciting project.”
STX shares were trading 3.17 per cent higher at 32.5 cents at 3:33 pm AEST.
